WT values the welfare and rights of its employees and actively promotes harmonious relations between management and labors. Work rules and various management regulations have been formulated in accordance with the Labor Standards Act and relevant laws and regulations, and the Code of Practice for Sustainable Development has also been formulated to specify the rights and obligations of both employers and employees in management matters, so that employees can fully understand, comply with, and protect their legitimate rights and interests. In the case of any major changes in the operating conditions that may affect employees’ rights and interests or work environment, WT informs employees within the statutory minimum notification period in order to protect employees’ rights and interests.
Implementing human rights risk assessment to create a suitable workplace
WT formulated, in accordance with international human rights conventions and initiatives, a Social Policy and Code of Conduct, which was signed by the Chairman and published on the Company’s official website as a standard for all employees, customers, suppliers and other stakeholders to follow.
In 2023, a human rights risk assessment covering 13 items in five categories was carried out at WT headquarters in Taiwan and found no high-risk employees. Furthermore, since the evaluation results did not indicate any high-risk situations, no improvement measures were planned. Additionally, there were no complaints received or any human rights violations detected. Therefore, no compensation measures for human rights violations were required in 2023. In addition, WT continues to raise the awareness of human rights issues for all employees through various education and training mechanisms, including education in pre-employment orientation for new employees, and through the WT e-Learning Academy, where employees can browse relevant online courses at any time. In 2023, 91 new hires were required to attend the human rights training, with a completion rate of 100%.
In addition, to ensure a discrimination-free and harassment-free workplace, WT trains all employees of the Group on human rights issues in the four major aspects of the Social Policy and Code of Conduct, which are labor rights, health and safety, ethics, and management systems. In 2023, a total of 2,790 current employees have received the human rights training, including 224 new hires at operating bases in Taiwan and China and 2,566 others who required regular refresher training (100% pass rate).
Offering multiple channels for smooth communication
WT provides a good platform for communication so that all relevant parties can access the stakeholders’ section on the Company’s official website. Employees may express their opinions to HR via email, telephone calls or in writing to communicate with the Company in two-way with regard to problems or concerns they encounter in work systems and environments. Each responsible unit will properly handle and provide feedback or improvement solutions to achieve effective communication. In 2023, one such input was received through the Company website, and none through internal channels. See “3-7 Ethical Corporate Management ” for details.
In addition, regular executive and departmental meetings are held, and employees kept informed of operational changes that may have a significant impact on them by means of announcements. As of now, employees’ rights and interests are well protected and there have been no major employer-employee disputes or negotiations. With good communication and interaction between the two parties, it is believed that a harmonious labor relations in the future will be sustained.
An incentive scheme more generous than legally required to maximize values for both parties
WT respects gender fairness and equality in pay. Nevertheless, an analysis of the existing employee makeup found that male employees are mostly in sales positions, which have a reward system for performance bonuses, or in application engineering related positions, which also have a higher pay due to the external salary benchmark; while female employees are mostly in logistics positions providing support for operations. The gender pay gap is mainly caused thus by different remuneration structures for different functions. WT will continue to improve the gender ratio of STEM (technology, engineering and other occupations) and optimize the gender makeup of all functions to close the gender pay gap.
Variable performance bonuses are distributed to share surplus results with employees
In the five major regions where it operates, WT’s standard entry-level pays are 1.03 to 2.16 times the local legal minimum wages. There is no gender difference in standard entry-level pays at WT. In addition, as required by SASB Standards, the entry-level basic pays at WT’s five logistics centers are 1.12 to 2.16 times the local legal minimum.
In addition to providing employees with market-competitive fixed salaries, WT designs quarterly (or annual) variable performance bonuses based on the overall operation profile, the achievement of departmental goals, individual performance and the nature of duties, so as to share operational achievements with employees and motivate them. WT also offers long-term incentives, with deferred compensation linked to the company’s long-term performance, to senior
managers and key personnel. The average salary was NT$1,392,000 in 2023, 2.32% lower relative to 2022, because the proportion of bonuses has been slightly reduced due to the decline in the overall international economic situation and market situations. The median salary was NT$1,117,000 in 2023, 1.92% higher relative to 2022. It has increased for five consecutive years, an increase of 11.59% from 2019.
Employee Stock Ownership Trust is established with 100% Company Incentive
In September 2020, WT Taiwan headquarters established an Employee Stock Ownership Trust, with employees (members) jointly organizing the Employee Stock Ownership Trust Management Committee. Employees with one year of experience are free to participate. As of the end of 2023, 90% of eligible employees are participants. Employees contribute a fixed amount from their monthly salaries, while the Company also contributes 100% of the incentive money to the Trust’s dedicated account. By allowing employees to share in operational growth, the Trust not only retain talents as intended, but also help employees to accumulate wealth through small savings and secure their pensions in the future.
Full contribution is made to the pension fund to protect employees’ retirement life
People-oriented WT not only values benefits for its employees during their employment but also actively takes care of their lives after retirement. The Supervisory Committee of Employee Retirement Reserve Fund was established for employees of WT individual companies who choose to stay in the pension scheme of the Labor Standards Act. The Committee is composed
of nine members, of whom three represent the employers and six represent the employees, and is re-elected once every four years. The Committee reviews and approves the amount of the employee pension fund and its deposits and payments to ensure labor rights and interests. The pension reserve is set aside at 2% of monthly wages and deposited in a special account in the Bank of Taiwan. An actuary was commissioned to issue an actuarial report on the employees’ pension fund for 2023, which shows that the present value of the defined benefit obligation is NT$223,995,000 and the fair value of plan assets is NT$165,099,000, which met the requirements of a full provision by government decree. In addition, for employees who opted for the labor pension plan under the Labor Pension Act, a monthly contribution of not less than 6% of pay is made to the employees’ personal accounts at the Bureau of Labor Insurance.
WT believes that only by providing employees with a secure work environment and a fair welfare system can employees fully contribute their talents without any worries and thus create maximum value. The benefits provided to the entire Group’s full-time employees in 2023 included group insurance, wedding gift money, maternity allowance, consolation money, health checkups, holiday gifts, company outings, departmental and club activities, seminars, and welfare items. The spend on employee benefits, including overseas regions, was approximately NT$91.67 million.
