Implement employee care

Happiness

Implement employee care

Compensation Management

The Company determines employee remuneration based on the characteristics of their work and academic and career background. In addition, we have set our starting wage at NTD 27,000 for entry level workers with no previous experience for both genders. Compared to the legally required minimum wage of NTD 23,800 pursuant to the Labor Standards Act as of the end of 2020, our wage is 1.13 times higher and we are planning to increase our starting wage once more to NTD 32,000 starting from 2021. The salary standard table is revised to ensure that the salary standard is competitive in the market, the average salary we offer for regular employees is at the market median (P50), while our key talent salary standard is ahead of the market (P75). Our margin for wage increase is set every year, with personal performance taken into account so that the better you perform, the more you receive. The system is designed to provide tangible incentives that will motivate employees to do their best. Our average wage adjustment had been around 3% in recent years, but in light of the COVID-19 pandemic, we had not adjusted our annual salary in 2020. We are planning to increase our minimum starting wage to NTD 32,000 in January 2021 before adopting a structural wage increase in the future. Using all employees’ basic monthly wage as the basis to calculate wage difference by gender, we took managers, specialists and direct employees as the cutoff for differentiation and our wage differences for different job tiers fell nicely within the 10% margin from one job tier to the next. In addition, for the retirement fund, the actuary assessment report each year is prepared according to international accounting principles. For employees choosing the old system, 2 to 15% of their monthly salaries would be set aside as the retirement fund to the exclusive account with the Bank of Taiwan. As of 2020, we had already set aside the sufficient contribution to be made to the retirement fund in full. For employees to whom the new system applies, on the other hand, 6% of their monthly salary will be set aside to their personal retirement fund account as required by law.

2020 Fixed Salary Ratios Ratio of Fixed Salary Plus Compensation
By job grade1 Female Male Female Male
Supervisor 0.81 1 0.72 1
Specialist 1.00 1 1.05 1
Direct employees 0.97 1 1.04 1

Note: Managers refer to section chief, head engineer/administrator, and sr. engineer/administrator and above; specialists include engineers/administrators of other grades; direct employees refer to production line workers. As the Company had only 2 female mid-level/senior managers. To prevent extreme statistical results caused by lack of samples, the analysis was performed on overall managers, which combines mid-level/senior managers with entry-level managers. In addition, we did not include the wage of new employees who have served at the Company for less than six months in the calculation of wage ratio as it would distort the accuracy of calculation.

Incentive system

Various goals and targets have been set with bonus payments to incentivize relevant employees in different ways, thereby facilitating inter-departmental cooperation and help employees reach their full potential.

Description Description
Year-end bonus Year-end bonuses are determined based on the annual revenue and target achievement level each year to motivate employees to grow.
Sales bonus The Sales Department sets specific sales targets and bonuses are awarded to employees who met their target.
Patent bonus The R&D Department sets specific goals for patent application and bonuses paid to employees when the patents in question have been awarded.
Recommendation bonus Bonuses are available for employee recommendations and self-recommendation by new employees.
Competition bonus When inter-departmental project teams achieve a specific given target, participants will receive bonus incentives (i.e. CIT bonus, TPM bonus)
Role model commendation Model Employee of the Year is publicly commended by the Company each year on Labor Day and the chosen employee will receive a medal along with the bonus
Seniority bonus At the end of each year, seniority bonus along with a gold token of appreciation is given to senior staffs who have worked at YOKE for more than five years

Welfare

In addition to the benefits provided through Employee Welfare Committee, YOKE has been offering perks that are superior to those offered by our competitors and fellow tenants at the industrial park. It is our hope to give every employee the opportunity to work in a comfortable, elegant and stress-free environment through our employee care. In addition, we also make it a point to invite retired employees to take part in our Year-end party each year to celebrate the occasion with incumbent employees. In light of YOKE’s 35th-anniversary celebration, we had organized a road run for employees to celebrate the Company’s anniversary through a fitness activity.

Employee satisfaction

Each year, we carry out the 5-point scale survey to learn about employees’ level of satisfaction with their work. By checking their level of satisfaction in three major areas of the actual work they perform, the compensation they receive and the work environment in general, the results would serve as a useful basis for subsequent improvements. Our overall employee satisfaction in 2020 came to 3.47. In our analysis of the aspects for employee satisfaction, the three were autonomy, teamwork and learning/development. while “compensation for work” scored the least, as employees awarded only 3.03 points to “salary.” but due to the decline in overall revenue for 2020, we had no plans for salary adjustment for the time being. For suggestions and inputs from employees, the responsible unit has already made relevant improvements, such as adjusting the starting salary for direction personnel to NTD 32,000; as for the cleanliness and sanitation of the old office environment, the Company had already arranged for janitors to maintain cleanliness at the premise.

We had continued to conduct employee satisfaction survey for foreign employees in 2020. The survey was split into two parts - satisfaction with the Company’s systems and mechanisms, satisfaction with the Company’s environment and their satisfaction with the intermediary software/hardware services. The overall satisfaction for foreign employees came to 3.46 and their satisfaction for the company was 3.39. They were mainly content with YOKE products' training and primarily least satisfied with the food available at the Company’s cafeteria. Consequently, we will be making relevant adjustments to the food prepared as dinner for foreign employees in 2021.  With regards to their satisfaction regarding the intermediary affairs, foreign employees were mostly satisfied with the assistance they received from the Company with various issues they encounter in Taiwan, the help they received from the Company with various applications of identification and arrangement for a health examination. In contrast, they were less satisfied with the facilities available at the dormitory. To address this issue, we will continue to arrange for supervisors to audit the dormitory on a monthly basis and meet with the agents to follow up on the improvement measures.

  • Food

    Free lunch (under the supervision of the Meal committee), and free dinner for those working overtime; cookies, drinks, candies, and chocolate in the pantry and conference rooms

  • Clothing

    Safety shoes, uniforms, summer POLO shirts, winter coats, and wool vest

  • Education

    Health workshops, arts and cultural workshops

  • Entertainment

    Family day (held once every five years), Mid-Autumn Festival party, year-end party, singing contests

  • Annual Leave

    Full-paid 5-day and 7-day maternity leave (not mandated by law)

  • Group Insurance

    Life insurance NTD 500,000, accident insurance NTD 2 million, accident health coverage NTD 20,000, and accident hospitalized daily reimbursement

  • Health Examination

    Annual health examination and additional advanced health examination for employees that have worked at the Company for 5 years or its multiples

  • Full-term Gifts

    For employees that have worked for the company for 5 years or its multiples, they will receive a gold ring or gold necklace, among other presents and gift money during the year-end party.

  • Subsidies From the Welfare Committee

    For three major festivals, weddings, childbirth, hospitalization, funerals, and intra-departmental parties

  • Travel Subsidies

    Employees who have completed one year of service at the Company shall receive a full subsidy for local travel and a subsidy of NTD 6000 for overseas travel.

  • Subsidies for Societies

    According to the number of members registered for the society

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core CSR value


39, 33rd Road, Taichung Industrial Park, Taichung 407, Taiwan

Einfo@mail.yoke.com 
T+886-4-2350-8088

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+886-4-2350-8088 

#39, 33rd Road,Taichung Industrial Park, Taichung 407, Taiwan