Overview
After more than 60 years of practice, Taiwan Fu Hsing has built a leadership position and strong advantage in the industry. Up to 96% of the company’s employees are full-time, while 4% are contract workers. No employees are non-employees. In addition to Taiwanese employees, the company also employs Filipinos, Vietnamese, Thais, Indonesians, Chinese, Malaysians, and others. All employees, regardless of nationality, enjoy comprehensive and competitive benefits, and domestic and foreign staff work together harmoniously, contributing to a stable and robust workforce.
The Company upholds the core principle of "fair treatment." In addition to not discriminating against employees based on nationality or race, we also actively promote gender equality and strive to create a diverse and inclusive workplace. The proportion of male to female employees is nearly equal. Among the management level, female supervisors account for 33.68%, which is a fairly gender-equal environment in the metal machinery manufacturing industry.
In terms of age distribution, nearly 20% are young people under the age of 30, injecting new vitality into traditional industries. 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.
In terms of seniority, the average tenure of the Company's domestic employees is 13.43 years, with over 50% having more than 10 years of service. This demonstrates the Company's stable operations and a high level of employee cohesion and sense of belonging, sufficient to support long-term stable organizational operations. The 6:4 direct to indirect employee ratio reflects good organizational operational efficiency and a relatively flat management structure.
With respect to full-time employees of local nationality, the gender distribution of new hires and resignations has been balanced in recent years, with no significant imbalance. Although the number of resignations increased slightly in 2024, further analysis by age group showed that more employees over the age of 50 resigned than new employees. Among those who resigned, 19 were retirees, accounting for nearly 80% of resignations among that age group and 13.57% of the total resignations. The average length of service of those who have reached retirement age is over 30 years, indicating that retirees have a high sense of identification with the Company. The moderate retirement ratio also reflects natural and healthy generational change in the organization, which is a positive human resources cycle.
Talent Retention
In response to social changes, Taiwan Fu Hsing has adopted flexible and diversified recruitment channels. Currently, there are six cross-border recruiting channels in stable operation, including digital recruiting, recruiting for various service systems, campus recruiting, multinational internship programs, the disadvantaged recruiting, and migrant workers recruiting. In addition, we actively develop local talent through employee referrals and recruiting in the rural areas (villages, neighborhoods, and communities). 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
Newcomer Assistance Program
In order to enable new employees to quickly adapt to the workplace environment, enhance their willingness to stay and reduce the turnover rate, the Company, since 2018, has developed different counseling assistance programs for new direct and indirect employees. The retention assistance for direct staff is primarily carried out through the interview stage, including workplace and job role orientations, as well as introductions to the work area, assignment of mentors, and new employee care initiatives. For indirect staff, the focus is on providing job descriptions and professional guides, enabling them to clearly understand the job responsibilities and the competency requirements emphasized by their job category. Additionally, through work reports, direct supervisors can gain insights into new employees' thoughts about their work, adaptation status, and provide timely feedback or suggestions for improvement. This process also helps to understand new employees' expectations and aspirations, facilitating longer-term career planning for them.
Care for Migrant Workers
There are currently nearly 160 foreign employees in Taiwan Fu Hsing. In addition to the relevant benefits that are comparable to those of local employees, for minimizing migrant worker’s cultural discomfort and language barrier, the company has a comprehensive management system and care programs, including open communication channels, a variety of bonuses and subsidies, diverse employee activities, and training programs (including Chinese language learning, financial management, physical fitness, etc.). In 2023, in line with the government's policy of retaining and utilizing migrant workers for a long period of time, the company introduced the very first mid- level migrant worker to take on the position of foreign technician, who is assigned the task of training foreign operators, so as to convey the idea to migrant workers that migrant worker can obtain long- term career development through their own efforts.
Retirement System and Planning
We are happy to see our employees start their second life after retirement. All of our local employees are subject to the labor pension system established by the Ministry of Labor and depending on the date of arrival and personal preference, employees are subject to either the new system (Labor Pension Act) or the old system (Labor Standards Act). In order to effectively supervise the contribution and utilization of the pension fund, we have set up the "Pension Fund Supervisory Committee", which elects representatives of both employers and employees every four years in accordance with the law to jointly manage the pension fund.
In addition, the Company has formulated the "Employee Preferential Retirement Plan" in 2008, which was revised after consideration in 2017, stipulating that employees of Taiwan Fu Hsing who have not yet reached the statutory retirement qualification but meet the requirements of seniority + age 70, he/she may submit an application for "Voluntary Early Retirement". Upon approval by the company, the employee may be granted an early retirement pension based on his/her seniority and the standard of pension calculation under the Labor Standards Act. This measure benefits many employees who have a certain number of years of service but are not yet eligible for retirement, so that they can retire in peace of mind in the event of a change in their families and will not suffer losses because they do not meet the statutory retirement eligibility requirements.
A total of 22 retirement applications were reviewed in 2024, and the total amount of pension funds disbursed for the old system was $33,184,696.
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
In 2023, the company organized the initial and advanced trainings for new employees and the annual educational trainings for current employees in accordance with the Occupational Safety and Health Act. Educational training for new recruits will be conducted on the day of reporting for duty, while advanced training will be conducted two months after arrival at the post. In addition, the Q&A method is used to test whether the staff's safety awareness is up to standard, and if it is not up to standard, the education and training will be strengthened.
In 2024, the Company will integrate existing course content, expand the scope and target audience of training, and enhance the diversity and practicality of training to further improve employees’ safety awareness and response capabilities. All courses had a 100% completion rate.
