Salary / Bonus System
- The company conducts regular reviews of industry-related salary levels and determines annual salary adjustment rates based on economic trends. Adjustments are made considering individual job responsibilities and personal performance. The company complies with relevant labor laws, such as the "Employee Salary Payment Act," "Employee Retirement Act," "Employee Work Rules," and "Employee Code of Conduct." Policies are implemented with transparency to ensure proper management, recruitment, retention, and motivation of employees, achieving performance management goals.
- Salary adjustments are aligned with the company's overall operational goals and departmental objectives. In addition to achieving profitability targets, the company establishes annual management objectives, maintains safety and health systems, manages financial stability, and fulfills corporate social responsibility. Salary increments are based on business performance results and employees' individual contributions. Clear guidelines are provided to enable employees to understand their performance evaluation and reward system, facilitating effective talent management.
- The company shares profits with employees to enhance operational efficiency. After annual tax settlements, a certain percentage of pre-tax profits is allocated to employee bonus funds or performance bonuses. These bonuses are distributed to employees based on their annual contributions, with the total bonus amount not exceeding a fixed percentage of pre-tax profits and at least one-third reserved for employee salaries.
Insurance System
- Upon the first day of employment, employees are enrolled in multiple insurance plans, providing comprehensive coverage for peace of mind.
- Enjoy Labor Insurance and National Health Insurance.
- Provide comprehensive employee group insurance (including life insurance, accident insurance, medical insurance, and cancer insurance) as well as group insurance for dependents.
- Overseas safety insurance: The company provides overseas safety insurance for employees traveling abroad on business.
Welfare System
- Organizes an annual year-end banquet with a lottery and occasionally arranges domestic and overseas trips as well as team-building activities for employees.
- Offers allowances and vacation days for domestic and international travel.
- Provides subsidies for foreign language courses and certification fees.
- Ensures comfortable and safe dormitory accommodations for employees from other regions.
- Partners with a diverse range of stores to offer discounts and promotions, enhancing employees' quality of life.
- Conducts annual medical check-ups to help employees understand and manage their health in a timely manner.
- Provides a variety of benefits for employees, such as wedding allowances, maternity allowances, funeral allowances, and emergency relief assistance.
Pension Reserve Fund Policy
- Legal Compliance: Novatech allocates pension reserves for regular employees under the old or new systems as required by law.
- Old System: Contributes 2% of total monthly salaries, with regular reviews for compliance.
- New System: Deposits 6% of monthly salaries into individual pension accounts. Employees can voluntarily add up to 6% more.This policy ensures employee rights and supports long-term financial security.
Pension under the old system Applicable law:Labor Standards Act
Pension reserves are contributed monthly as required by the Labor Standards Act. A Supervisory Committee, established in compliance with the "Rules Governing the Organization of Supervisory Committees for Business Entities’ Labor Retirement Reserves," convenes regularly to oversee and report on fund management.
Pension under the new system Applicable law:Labor Pension Act
Employees hired after July 1, 2005, or those who opted for the new system, contribute 6% of their monthly salary to individual pension accounts at the Bureau of Labor Insurance or to insurance plans that comply with relevant laws.
Progress
The retirement system operates effectively. All Novatech employees have transitioned to the new system, except for 28 employees who remain in the old system. The company ensures all contributions and disbursements comply with legal standards, securing employees’ retirement benefits.
Employee Stock Trust
To strengthen employee benefits, attract and retain key talent, and improve employee retention stability, the "Pengyi Co., Ltd. Employee Welfare Savings Association" was established in 113th year (2024). This program encourages full-time employees of the company and its subsidiaries, which hold more than 80% of shares in Taiwan, to contribute a portion of their salary to a savings plan after one year of service. Additionally, the company matches the contribution with a 1:1 reward bonus to purchase company stock. This initiative not only helps employees build a more comprehensive retirement plan but also provides a diversified profit-sharing mechanism to motivate employees to grow alongside the company.
Novatech Life
Novatech organizes annual mid-year banquets and year-end parties to reward employees for their hard work, allowing them to balance work and life enjoyment. To strengthen the sense of unity among all employees, the company also holds internal activities from time to time, such as domestic and international trips, department meals, etc. These activities provide employees with opportunities to relieve stress and refresh their minds, maintaining a good balance between work and family.
