Employee Welfare Plan

Employee Welfare Plan

One of the primary things that CWTC takes into consideration is the treatment and welfare of employees. To comply with the laws and regulations, the salary of each employee will not be different due to gender. Our employees' benefits include salary, allowances, bonuses, retirement funds, and insurance. Besides that, we create a standard of salary to satisfy the local price level according to the academic qualifications, experience, and the comparison with market salary survey results. 

The company’s overall operations, personal performance, consumer price index and government policies are the criteria that we take into consideration for salary transformation. 

The performance appraisal is conducted twice a year. CWTC will use the results as a guideline to affirm, reward and motivate the outstanding performance of employees. Under a fair salary and performance appraisal system, our employees are able to maximize their work potential. 

In 2020, employee benefit expenses are TWD 1,305, 307 thousand dollars which is an increase of 3% over the previous year.

Comparison of the number of full-time employees who are not in supervisory positions and their average salary in 2020 with the previous year.
 

Item/Year 2020 2019 Compared
Number of employees 159 175 -9%
Average salary 568 thousand dollars 565 thousand dollars 1%
Median salary 503 thousand dollars 484 thousand dollars 4%

Note :The number of employees in this table does not include company managers. The definition of manager is based on the applicable scope of "manager" stipulated by the competent authority's 3/27/2004 Taiwan Caizheng Sanzi Letter No. 920001301. It is consistent with the scope of managers disclosed in the company's annual report.

 

In addition, special leaves, half-paid sick leave, personal leave, marriage leaves, injury leave and family care leave are provided in accordance with the law. In a harmonious and fair working environment, females are entitled to menstrual leave, maternity leave and childbirth leave, and colleagues with spouses are entitled to paternity leave. If colleagues have family needs, they can also apply for parental leave and leave without pay and apply for reinstatement after the period expires. 

The company has established labor-management meetings in accordance with the law, and meetings are held regularly at least quarterly. The association is also appointed representatives of both parties apto solicit employee proposals except the labor-management matters submitting for the plans by various units in accordance with the law. Through this meeting, the opinions of both parties were fully communicated and negotiated. In 2020, there was no labor dispute.

CWTC establishes an employee welfare committee in accordance with local laws and regulations, and provides welfare funds in accordance with relevant laws and regulations. Each factory also instructs relevant units to plan and implement the following welfare policies:
 

ITEM CONTENT
Employee Insurance In addition to complying with local laws and regulations, employees enjoy labor, health insurance and retirement pension insurance; they also enjoy group insurance.
Employee bonuses According to the company's articles of association, the company distributes employee dividends at 1% of the current year's profit.
Employee compensation plan With the company planning, employees enjoy a cash capital increase subscribed to retain employees, the transfer of treasury shares employees, employee stock options and restricted stock of equity.
In 2020, employees handling the transfer of treasury shares totaled 1,341,000 shares.
Employee Benefit Plans In order to enhance internal welfare, reward employees for their financial planning, and increase employees' sense of participation in the company, and to achieve win-win benefits for both employers and employees, the company started the employee stock ownership trust business in 2020.
The Company contributes 100% of the company's public funds based on the employees' contributions; the employees can receive annual dividends and all the shares after five years.
Group activities Regular staff trips, departmental dinners, fun competitions and other activities, and funding to encourage employees to participate.
Gifts Such as birthday gifts, bonuses for the three festivals, etc. We also provide subsidies to our employees for weddings, funerals, etc.
Employee health check Regular physical health checkups for employees are held every year.