Sustainability
Sustainability
Occupational Safety and Health
Employee Health and Benefits
The well-being and overall health of employees are crucial aspects of the company’s sustainable operation. By offering comprehensive benefit plans, flexible policies, and a range of health promotion initiatives, TSC is able to attract and retain exceptional talent. This not only increases employee satisfaction and work efficiency, but also ensures the company’s stable growth and longterm competitiveness.
Retirement Plan
TSC has implemented a retirement pension system to ensure the well-being of employees after they retire. This system is designed in accordance with the law, including the retirement procedures outlined in the Labor Standards Act and the defined contribution plan specified by the Labor Pension Act. Additionally, the Labor Retirement Reserve Supervisory Committee has been established.
Since July 1, 2005, TSC has been allocating 6% of the retirement pension to employees’ Individual Labor Pension Accounts monthly, as regulations require. If employees choose to make voluntary contributions to their retirement pension, the contribution will be deducted from their monthly salary and transferred to their Individual Labor Pension Accounts at the Bureau of Labor Insurance, based on the voluntary contribution rate. Employees can select either the relevant pension provisions of the previous or new retirement system, while maintaining their work seniority before implementing these regulations. For the fiscal year 2023, TSC has fully allocated retirement pension expenses of NT$20,172 thousand to the Bureau of Labor Insurance, in accordance with the retirement pension allocation method. For overseas subsidiaries, retirement provisions are determined based on local legal requirements. The retirement benefit expense recognized for the year 2023 amounted to NT$58,180 thousand.
TSC’s benefit plan is in accordance with the Labor Standards Act. The retirement pension for employees is determined by their years of service and the average salary in the six months prior to retirement. Qualified actuaries annually calculate and allocate funds to the Workers’ Retirement Reserve Funds Account at the Bank of Taiwan to ensure employee retirement benefits. As of the end of 2023, the balance in the Workers’ Retirement Reserve Funds Account at Bank of Taiwan is NT$39,945 thousand. The retirement fund, as stipulated by the Labor Standards Act, is managed by the Bureau of Labor Funds, Ministry of Labor, and its utilization is governed by the Regulations for Revenues, Expenditures, Safeguard, and Utilization of the Labor Retirement Fund. The minimum annual return on the settlement and distribution of the fund must not be lower than the return based on the interest rate of a two-year fixed deposit in a local bank.
Incentive System and Employee Benefits
To foster a positive learning culture, TSC publicly recognizes leaders, exemplary employees and individuals from various regions. These awards recognize employees for their contributions, service and exceptional performance, making them role models for their peers to emulate.
All employees in various regions of Taiwan receive welfare bonuses for festivals such as the Mid-Autumn Festival, Labor Day and the Dragon Boat Festival. In addition, Employee Benefit Committee and unions in each region organize various benefits each year, including maternity gifts, scholarships for employees’ children’s education, wedding gifts, birthday gifts, condolence gifts for illness or death, and other subsidies. These initiatives are designed to make colleagues feel cared for and supported. We express our gratitude for everyone’s hard work and create cherished memories through festive activities and year-end banquets.
Promotion of Physical and Mental Health and Work-life Balance
TSC collaborates with professional medical teams to conduct regular health checks for employees according to local regulations. In Taiwan, we provide health checks that exceed legal requirements in terms of frequency and surrounding resources, ensuring continuous care for employee health management.
Management and Promotion of Human Rights Policy
Establishing Corporate Social Responsibility Management System
To ensure the implementation of labor rights, environmental protection, occupational health and safety, and ethical practices, and to fulfill our corporate social responsibility, TSC complies to international labor and human rights standards. These standards include the UN Guiding Principles on Business and Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, and the UN Universal Declaration of Human Rights. Additionally, TSC complies with local regulations and follows the Responsible Business Alliance (RBA) Code of Conduct. The RBA Social Responsibility Management Manual, which has been approved by the Chairman, is publicly available. TSC actively establishes a corporate social responsibility management system and conducts human rights risk assessments. We conduct self checks, customer audits, and third-party verifications to address any identified human rights issues. Based on the results of these assessments and reviews, TSC continuously strives for improvement to achieve our risk management objectives and implement relevant practices. In November 2023, we will undergo a third-party audit.
Establishing a Consensus on Corporate Social Responsibility
To ensure all colleagues understand the corporate social responsibility (CSR) policies and commitments, and to establish consensus, TSC conducted CSR education and training sessions at its two Taiwan factories throughout 2023, with a participation rate of 100%. Through universal participation and educational training, this initiative strengthened colleagues’ awareness of CSR and collectively reinforced the commitment to CSR implementation.
Implementation of Corporate Social Responsibility Practices
To align with the establishment of the corporate social responsibility management system, TSC has undertaken a comprehensive review and revision of internal management policies, operating procedures and other documents. The goal is to ensure consistency in communication, writing, and actions to implement corporate social responsibility policies and commitments, as well as the Company’s strategies, operating policies, and procedures. By 2023, all internal management regulations and operating procedures will be either newly issued or revised. In addition, the development and distribution of forms will facilitate the effective execution of relevant operations. Externally, TSC requires all suppliers to adhere to the Responsible Business Alliance (RBA) Code of Conduct and sign the RBA Vendor Code of Conduct. Going forward, TSC will continue to “RBA Social Responsibility strengthen its commitment to human rights within the organization.
Communication and Grievance Channels
We value employee relations by establishing diverse, two-way, and open channels of communication and encouraging employees to courageously report unlawful conduct or file complaints when their rights are violated. In addition, we encourage employees to proactively suggest beneficial improvements for the company. We also have an employee survey mechanism to understand the living conditions of colleagues and ensure their awareness of the Company’s various communication and complaint channels. TSC clearly defines and implements work rules and related complaint procedures, and posts information on the company intranet to ensure the smooth operation of communication channels so that colleagues’ voices can be effectively conveyed and addressed. In 2023, there were no complaints from colleagues, and we tracked and responded to their suggestions accordingly.
Workplace Safety Management
TSC recognizes that providing a safe and healthy work environment is critical to sustainable operations. To effectively improve the management of the workplace environment, TSC has implemented a comprehensive company-wide environmental, health and safety policy. This policy focuses on six key areas: regulatory compliance, accident prevention, waste reduction, pollution prevention, energy conservation and green design. In addition, TSC has developed occupational health and safety operating procedures in accordance with relevant laws and regulations. The company is committed to maintaining occupational safety and health standards to ensure the wellbeing of its employees. Of note, as of 2023, TSC has not received any penalties for occupational safety violations across its entire network of facilities.
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