Employee Benefits
The Company has always treated employees with integrity and maintained smooth channels of communication between management and labor. In addition, the Company also respects and upholds the rights and privileges that employees are entitled to, with all regulations established strictly in accordance with the Labor Standards Act and other pertinent regulations to safeguard employee rights.
(i). Employee Benefit Measures:
Ever since the Company’s initiation, Nantex has adhered to its management philosophy of sustainable operation and fulfillment of corporate social responsibilities by focusing primarily on the wellbeing of our employees and the development of the Company as our mission. The fact that our employees are willing to put in effort and diligence in their work is closely related to the lengths at which the Company has gone to protect and uphold their benefits and welfare in different areas. Concrete measures we have implemented include:
- Holistic Systems and Schemes:All systems and schemes adopted by the Company that relate to employees, such as remuneration, promotion, benefits, merits and punishments, leave, retirement, pension, and so forth are fully compliant with the stipulations of the Labor Standards Act to safeguard employees’ rights.
- Comprehensive Benefit Measures:
- Pursuant to the Employee Welfare Fund Act, the Company appropriates 15% of its operating revenue towards the employee welfare fund, which is managed by the Employee Welfare Committee for disbursement of cash gifts on occasions such as employee birthdays, childbirth, illness/injury benefits, travel, subsidies for club activities, wedding/bereavement cash gifts, benefits for the three major holidays, retirement benefits, scholarships for dependents, emergency relief, and so forth.
- The Company will disburse holiday bonuses to employees on the Dragon-Boat Festival, Mid-Autumn Festival, and Chinese New Year in accordance with the Procedure Governing the Disbursement of Year-end and Holiday Bonuses.
- Starting from 1996, the Company has been purchasing group insurance coverage for employees, including an insured amount of NT$ 1 million for life insurance for regular employees, NT$ 1 million of accident insurance, NT$ 1 million of life insurance, and NT$ 10 million for accident insurance for sales personnel; NT$ 5 million for life insurance and NT$ 10 million for accident insurance for employees stationed overseas to provide additional protection and benefits for employees.
(ii). Planning and Implementation of Employee Training:
- Our Philosophy in Employee Training
To help all employees gain more knowledge, skills, competence, and a better attitude for work to improve their individual and team performance which will ultimately lead to the Company’s goal of sustainable operation, the Company provides training programs tailored for departments and individuals by focusing on three aspects of professional training, education, and development. Such training shall be designed by considering factors such as Company development, annual planning, and compliance with pertinent regulations. - Here at Nantex, we believe training to be the fundamental basis for safety and as such, our training is developed to help operators acquire relevant awareness and knowledge of safety so that they can be protected from mistakes and accidents that might be caused by ignorance.
The types and durations of training we organized for 2017 are shown as follows:Internal Training Number of Training Hours Number of Trainees External Training Number of Training Hours Number of Trainees Training Cost (in NT$ 1,000) 3,242 653 1,713 114 517
(iii.) Retirement Scheme:
- Pursuant to the stipulations of the Labor Standards Act, the Company has established its procedure governing employee retirement that is applicable to service seniority of all full-time employees prior to the enactment of the Labor Pension Act on July 1, 2005, while accounting for the subsequent service seniority for employees opting to stick with the Labor Standards Act after the Labor Pension Act took effect. For employees meeting the requirements for retirement, the severance pay shall be calculated based on their service seniority and the average wages of the last six months of service rendered. For employees with 15 years (including) of seniority or less, for each year of service they provided, they will be awarded 2 radixes and for those whose seniority exceeds 15 years, for each year of service they provided, they will be awarded 1 radix and they may receive no more than 45 radixes in total. For employees on forced retirement due to disability caused by occupational injury, they may receive an additional 20% for the severance pay.
- Effective from July 1 2005, the Company has established its employee retirement scheme with contribution pursuant to the Labor Pension Act, and the scheme is applicable to employees of Taiwanese nationality. Employees are able to choose the labor pension scheme as described in the Labor Pension Act and have no less than 6% of their monthly wage appropriated towards their pension in their personal account managed by the Bureau of Labor Insurance. The disbursement of employee pension can be made by either monthly payments or a lump-sum pension payment from employees’ personal pension account and its accrued earnings.
- In addition, the Company has also established its “Employee Retirement Management Procedure”, which, in addition to the requirements of retirement as stated in the Labor Standards Act, allows employees over the age of 55 who have served the Company for more than 15 years, employees whose added total of their age and service seniority at the Company exceeds 60, and employees who have served the Company for 15 consecutive years to voluntarily apply for early retirement.
- For employees applying for early retirement, the Company will contribute 15% of their monthly salary towards their pension to be deposited in a designated account under the name of the Supervisory Committee of Labor Retirement Reserve with the Bank of Taiwan. In 2017, there were five employees who were eligible for retirement, and their total pension amounted to NT$ 14.09 million.
Please don’t hesitate to contact us should you have any inquiries or are interested in our products.
Product, Service, and Technical Inquiries
In order to boost the supervisory functions of corporate governance, the Company has established its Employee Ethics Service Window as a channel for the grievances of stakeholders wishing to lodge a complaint regarding any incident of rights infringement. This is meant as a measure to facilitate adequate communication between the Company and its employees, customers, suppliers, and investors on issues that relate to stakes.
All complaints and grievances lodged shall be processed and handled as a specific case, with relevant actions taken by the management to ensure that due rectification is implemented by the department(s) involved while protecting the privacy of the individuals involved.
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Relevant Information on Investor Conferences
Please go to the Market Observation Post System website and in the field for Company Code, enter Nantex’s code: 2108 for the results.