Talent Retention
Welfare Measures
The welfare system established by Formosa Laboratories for full-time employees not only covers basic rights guaranteed by laws and regulations, such as labor and health insurance, special leave, maternity leave, and parental leave, but also includes the provision of life insurance, medical insurance, disability insurance, pensions, wedding and childbirth gifts, funeral subsidies, employee dormitories, and free meals. Please refer to the table below for more details on Formosa Laboratories' welfare measures. Additionally, foreign employees are entitled to various bonuses and benefits provided to local employees. Formosa Laboratories also supports promotion and continuing education opportunities for migrant workers while respecting their multicultural needs.
The Company provides comprehensive benefit measures for full-time employees to safeguard the rights and interests of employees and enhance company cohesion. In addition to the basic rights guaranteed by law, such as labor and health insurance, special leave, maternity leave, and parental leave, we also offer a wide range of employee benefits, including holidays, life insurance, medical insurance, disability insurance, retirement benefits, marriage and childbirth bonuses, funeral subsidies, employee dormitories, and free meals. We strive to improve employee well-being and create a happy workplace environment.
Scholarships for Employees' Children
Scholarships are awarded to employees' children at the annual year-end dinner to motivate them to excel academically and pursue their dreams. Specifically, Formosa Laboratories provides NT$5,000 for each university student, NT$3,000 for each high school or vocational student, NT$2,000 for each middle school student, and NT$1,000 for each elementary school student. In 2024, 45 employees applied for scholarships, and 54 children received awards. Additionally, two special awards were given to children who participated in national or international competitions in sports, music, arts, or related fields and earned top honors. A total of NT$82,000 was awarded.
▼Welfare measures for full-time employees
▼Continuing education and training and welfare system for migrant workers
| Welfare measure | Specific implementation details |
|---|---|
| Continuing education and promotion |
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| Compensation and benefits |
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| Culture and living |
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Foreign Migrant Workers Continuing Education and Welfare System
To promote employee equality, foreign migrant employees also enjoy the same bonuses and benefits system as local employees. We ensure smooth channels for the promotion and further education and training of foreign migrant workers, and through various policies and measures, we guarantee and respect their diverse cultures.
Internal forklift certification training section for foreign employee
Incentive Rewards
Formosa Laboratories adopts a career development approach by designing a job grade structure based on job responsibilities, offering employees diverse opportunities for growth, promotion, and job rotation. Additionally, the company aligns this structure with the market's fixed salary system and provides a 'Diverse Salary Scale.' Salaries are adjusted according to an employee's responsibilities, expertise, and individual performance, while also considering the latest salary trends in the industry. Information about the salaries of full-time employees who are not in managerial positions is available through the Employee Benefits and Salary Statistics section of the Public Information Observation Station (MOPS).
To boost employee morale, Formosa Laboratories offers various bonuses, such as performance bonuses and project achievement bonuses. Additionally, it has established the Employee Share Ownership Committee, which encourages employees to contribute 3% of their salary monthly to the employee share ownership trust, allowing them to share in the benefits of share price appreciation.
▼Comparison between standard entry-level wages and employee compensation levels at Formosa
Note：
- Frontline employees: In 2022 and 2023, this category included technicians, skilled workers and dispatched operators of the Company at job grades 1-3; in 2024, this category included direct personnel at job grades 5~7. (Currently, the minimum job grade is grade 5 due to the adjustment of the classification of employees' job grades in 2024.)
- The standard salary includes the base salary, perfect attendance bonus, job allowance, certificate allowance, and other regular compensation.
- The minimum wages in Taiwan from 2022 to 2024 were NT$25,250, NT$26,400, and NT$27,470, respectively.
- The calculation of annual compensation includes base salary, overtime pay, various bonuses, meal allowances, job or transportation allowances, and employee remuneration for the current year.
- Ratio of percent change in total compensation: Percent change in the total compensation of the highest paid employees/Percent change in the median of the total compensation of the remaining employees, as compared to the total compensation in the previous year.