Remuneration policies
Yulon Motor does not compensate our employees differently as a result of their gender, race or other personal traits. Instead, we determine employees’ salary level based on their education, working experience, professional knowledge and skillsets, seniority and personal performance. On top of the basic salary that is 1.4 times the minimum legal wage and the bonus for three major holidays, we also flexibly remunerate our employees according to the Company’s annual business performance, e.g. performance bonus, employee bonus, additional annual bonus, to incentivize employees and retain talents.
The ratio of the minimum legal wage to the standard wage of an entry-level employee in 2022
Note: The ratio is calculated using“ the minimum wage required by local laws: standard wage of an entry-level employee” where the minimum wage in Taiwan announced in January 2022 was NT$25,250.
Note 1: The value of females is set as 1 in the ratio.
Note 2: The bonuses include performance bonus and annual bonus.
Note 3: Part-time workers are not included.
Information on employee compensation for the most recent 3 years
Annual total compensation ratio
Note: The table above covers only full-time employees and is not applicable to other workers such as part-time employees.
Employees evaluated in 2022
Note: New employees who were within their first three months at the Company were not included in the annual performance evaluation.
Note: rounded to 2 decimal places.
Maternal care and support
Echoing the Act of Gender Equality in Employment, we offer care and support better than those required by laws, e.g. during an employee’s term of pregnancy, the Company grants seven days of leave for pregnancy checkups and the pregnancy checkup leave may be granted in halfhour units with regular pay; for pregnancy checkups, pregnancy checkup accompaniment and paternity leaves, employees may take 7 days of leave during a 15-day window before and after the gestation period and the day their spouses are in labor, and regular wages shall be paid. We implement wraparound birth and parenting care, and provide attentive care at each stage (pregnancy → delivery → parenting), such as producing a care handbook for pregnant mothers, subsidizing self-funded checkups, holding birth and parenting seminars, handing out newborn congratulation gifts by the general manager, and holding“ Baby Day” sharing activities.
Unpaid Parental Leave in 2022
Note: rounded to 2 decimal places
A company with happy employees can lead to a spontaneous corporate culture
Former Chairman Kenneth Yen once said that“ happy employees lead the corporate to a selfmotivated corporate culture,” so Yulon Motor hopes to build a happy company that invests tremendous resources into the provision of welfare and care services every year in addition the competitive compensation. Thus, we address the demands of employees at various life stages and ensure they work at a quality and happy place and develop a happy and stable career and life. We offers a wide range of welfare covering food, clothing, shelter, transportation, education, entertainment, maternal and parental care and bonuses and subsidies, and the total expenses amounted to nearly NT$70 million in 2022. Yulon Motor also pays attention to the balanced development of the employees’ work, life and family. Therefore, we organize a series of activities, including Family Day, summer camps, group festival activities, domestic and international trips, volunteer club charity events, and friendly contests between clubs. Exchange and sharing in these activities can facilitate the interaction between employees from different units, improve the team atmosphere and relationship, and allow employees to take care of their health and family besides busy days of work. To give employees who are single more opportunities to step outdoors and meet new friends, we not only reimburse the employees who participate in the Ministry of Internal Affairs’ matchmaking event for the registration fee, but also provide free movie tickets in support of the event encouraging single employees to sign up for the event, as well as their happiness. Furthermore, welcome activities, management consensus camps, and retirement events are organized for employees at different ages and levels to enable employees’ communication with the management in these activities at the beginning of their career in the Company and give them a clear grasp of their future career development and post-retirement planning.
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“Starlight Stage” welcome activity in 2022
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Free Chinese medical consultations and acupuncture treatment at the Sanyi Plant
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The Volunteer Club supported the adult/elderly health check-up event in April
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Organized the beach cleanup event “Love Sea and Reduce Plastics, Good to Have you” in October
Retirement system
Yulon Motor contributes to the labor pension fund and handles employee retirement in accordance with the provisions regarding both the old pension system and new pension system. In 2022, the contributions amounted to NT$62,924,916 for the old pension system and NT$27,892,761 for the new pension system. Besides compliance with basic laws and regulations, we also encourage employees to seek opportunities for self-development, so we introduce and announce preferential retirement plan depending on circumstances every year, and qualified employees may apply for this plan. Upon approval, an additional 7 bases (the unit used for calculating seniority stated in the Labor Standards Act) will be given to the applicants.
Highlighted cases column: Happiness points
Since 2022, we have adopted the employee reward mechanism,“ Happiness Points” to enhance employee cohesiveness, company recognition and culture and create a happy corporate. There are nine ways to receive the happiness points, including“ learning and growth,”“ patent development,”“ being an officer,”“ rewards for marriage and pregnancy,”“ presentation of new hires and interns,”“ promotion,”“ mentorship,”“ car purchase” and“ company activities.” Employees who meet the set standards in each category can receive “Happiness Points,” which can be used in exchange for over 400 products such as automotive accessories, life accessories, cultural and creative products, gift vouchers and movie tickets. The remaining points at the end of the year can be exchanged for cash. In 2022, points equivalent to NT$387,250 was cashed in total.
Care of overseas expatriates
Yulon Motor’s expatriates may face various challenges, and we will do our best to support them to adapt to local life and new work environment by the following means:
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POINT01
Arrangement before departure:
- 1.Workshops before departure and accommodation arrangement: workshops are held in Taiwan to explain things to notice before departure, and accommodation is arranged by local employees beforehand.
- 2.Business introduction: Before departure, an employee take business trips to the location to be relocated and take over business from a local expatriate. The local expatriate would also lead and accompany the employee to adjust to local culture and life.
- 3.Survey of whether to relocate with family: We ask employees whether they would like to relocate with their family, and if the answer is yes, we help them to book flight tickets.
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POINT02
Healthcare:
- 1.Health checkup: One advanced full-body health checkup every year.
- 2.Insurance: In addition to employee group insurance, overseas business travel insurance and medical protection for hospitalization are also provided.
- 3.Care: Birthday gift vouchers for family members, new year gifts and gift vouchers (for employees unable to reunion with family in Taiwan due to the pandemic)
- 4.Others: Yulon Motor provides subsidies for quarantine expenses during the pandemic and encourages employees to work from home or remotely to ensure the health of employees overseas. In order to make employees feel safe about working abroad, we provide thoughtful employee support scheme and keep in close contact with them during their expatriation to keep them abreast of the Company’s status and eliminate their sense of unfamiliarity when returning.
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POINT03
Career development:
The knowledge of expatriates is the intangible intellectual property for the organization, so Yulon Motor especially pays attention to knowledge transfer of these expatriates and the arrangement of job position when they return. We regularly review the requests for return and expatriation, and if there is any management vacancy, employees abroad are first considered for promotion to such a position when they return, or they will be allocated to suitable unit responsible for passing on their overseas experience. Thus, employees abroad do not have to worry about job openings after their return.
