Overview
After more than 60 years of practice, Taiwan Fu Hsing has built a leadership position and strong advantage in the industry. 98.34% of the Company's workforce are permanent employees, whereas the remaining 1.66% are contract workers. There are no non-employee workers. In addition to Taiwanese employees, the Company's workforce also comprises workers from The Philippines, Vietnam, Thailand, Indonesia, China, and India. All employees are entitled to the comprehensive benefits and competitive employment terms offered by the Company, and the harmonic relationship between local and foreign workers opens us to a stable supply of human resources.
Not only do we refrain from discriminating employees by nationality or ethnicity, we also value gender equality and have almost equal percentage of males and females in the workforce. In managerial roles, females accounted for 30.77% of total managers, which is a relatively gender-equal level in the mechanical manufacturing industry.
In terms of age distribution, more than 20% of the workforce is 30 and below, whose presence brings new energy to the conventional industry. Meanwhile, 60% of the workforce is between 31 and 49 years of age, whose experience combined with stamina is beneficial to the Company's long-term growth.
As for seniority, local permanent employees average 12.14 years of service, and nearly 40% of which have served for more than 10 years, indicating stability, high loyalty, and strong recognition for the Company's values. Meanwhile, a direct-to-indirect worker ratio of nearly 6:4 is indicative of our exceptional management efficiency and our relatively flat organization.
With regards to local employees, new recruitment rate and attrition rate were comparable between genders and no inequality was observed. Although there was a slight increase in the number of resignees in 2022, most were aged 50 and above rather than the newly recruited. The size of the workforce decreased by 15 overall, including 17 retirees that accounted for nearly 70% of resignees in this age group and 11.9% of resignees overall. Those who met the retirement criteria averaged 30 years of service, indicating high degree of loyalty among retirees. The percentage of retirement is deemed beneficial to long-term growth.
Talent Retention
Taiwan Fu Hsing makes use of a flexible and diverse range of recruitment channels to cope with social changes. The Company currently recruits talents through six main channels, including: digital platform, employment services, campus, multinational internship programs, underprivileged persons, and foreign workers. Furthermore, we encourage referrals from employees and direct recruitment focus to the local community and neighborhood. We evaluate talents solely for their skill sets, and ensure fairness and transparency in our recruitment and assignment practices. The headquarters and subsidiaries are required to comply strictly with the Company's social and environmental responsibility policies by prohibiting child labor (below age 16) and forced labor, and ensuring fair treatment of all personnel regardless of their origin, gender, religion, ethnicity, nationality, or political association.
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Recruitment
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Cultivation
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Development
Recruitment: 6 major sources
Sources of Talent Recruitment: We recruited through 6 major channels: online recruitment, local recruitment, campus recruitment, internship program, disadvantaged recruitment, and part-time program for employees’ minors. Through different recruitment channels, we have successfully enhanced employer branding in the employment market. Additionally, our hiring and recruitment channels are justifiable and transparent. In particular, both the headquarters and subsidiaries are required to strictly abide by the social & environmental responsibility. Hiring child labor under the age of 16 and forcing labor are prohibited. We provide applicants with equal job opportunities regardless of their district, gender, religion, ethnicity, nationality, and political party.
In 2021, there was a net increase of 71 local permanent employees, whereas the number of resignees decreased slightly. Increases in the demand for new talents were in line with production requirements. Resignees included retirees; those who were eligible to retire averaged 32 years of service, indicating high level of recognition for the Company's value among retirees. The percentage of retirement is deemed beneficial to long-term growth.
Cultivation: 3-stage training program
One of the key factors that allow Taiwan Fu Hsing to keep up-to-date over the decades is that we have a complete and effective talent nurturing program. Our talent nurturing program can be subdivided into 3 stages including "entry-level", "intermediate-level", and "advanced-level" with each level featuring its own distinctive training content, method, and purpose.
For the "entry-level", we focus on knowledge conveyance, assisting them to learn more about corporate culture, workplace environment, and job content. For the "intermediate-level", we focus on the enhancement of skills. For the "advanced-level", we focus on the tailored apprentice system and work shifts so these seniors are able to broaden job expertise and skills in response to their personal career development and external environmental changes.
Taiwan Fu Hsing implemented a "zero commission" policy in 2021, which forgoes collection of any charges related to the hiring of foreign workers out of protection and respect for foreign workers' rights throughout the recruitment process. After implementation of the policy, foreign workers no longer have to bear charges associated with their employment, including medical expense, training expense, and agency commission.
Retirement System and Planning
Taiwan Fu Hsing appreciates the desire of its employees to plan for life after retirement. All employees of R.O.C. nationality are entitled to the pension fund system stipulated by the Ministry of Labor, and adopt either the new scheme (under Labor Pension Act) or the old scheme (under Labor Standards Act) depending on their duty commencement date and personal preference. For effective supervision over pension fund contributions and withdrawals, we have assembled a "Labor Pension Fund Supervisory Committee" and elect management and labor representatives every four years to co-manage the pension fund.
Furthermore, the Company introduced a "Favorable Retirement Policy" in 2008 that was later reviewed and amended in 2017 to give employees of Taiwan Fu Hsing the option to request for "voluntary early retirement" if their years of service + age ≥70 despite not meeting the legal retirement criteria. Once approved, early retirees may start receiving pension benefits calculated based on years of service and the standards specified in the Labor Standards Act on an earlier date.
The Company reviewed a total of 17 retirement applications in 2022, including 16 retirement requests and 1 request to settle years of service. A sum of NT$22,068,088 was paid from the old pension scheme.
Occupational Safety & Health
Occupational Safety & Health Policy
Through educational training programs and safety culture, the unit managers and employees are able to work together with a view to achieving the ultimate objective of "zero accident, zero disaster, and zero occupational injuries".
Occupational Safety and Health Committee
We established an "Occupational Safety & Health Committee" to promote occupational safety, prevent accidents, improve the work environment, and protect employee health.
Occupational Safety and Health Education and Training
Perform detailed inspections on hazardous equipment to ensure safe equipment operation. Before use, the operator shall perform an automatic inspection, key inspection, and operation checkpoints before reporting to the labor inspection agency for regular inspections within the statutory period. Regularly conduct "equipment operation education training", "disaster emergency response" and "safety and health check system".
Taiwan Fu Hsing organizes a multitude of training courses each year to raise employees' risk identification capabilities as well as safety and health awareness. A persistent improvement system has also been implemented to improve safety and health performance over time. The Company had followed the "Occupational Safety and Health Act" and organized orientation plus advanced training aimed at new recruits as well as on-job training for existing employees in 2022. All new recruits are required to complete orientation on the day of duty commencement followed by advanced training two months after duty commencement. Furthermore, the Company uses Q&A to test whether employees possess adequate safety awareness, and would enhance training for those who fail the test. A total of 18 on-job training courses were organized for existing employees in 2022. 100% of employees had completed the required training.
