- Competitive compensation
104 provides competitive compensation which is also internal equity:, thus we can attract, inspire and keep talented employees.
The adjustment of compensation and rewards is determined after referring to the external compensation level, the overall economic situation, and the price index and considering the company's operation, ability to pay, and the demand for incentives. In addition to compensation, additional rewards are offered based on the need and nature of duties and the special requirements, such as duty allowances, expatriation allowances, support bonuses, supervisor traffic allowances, transfer allowances, shift allowances, and other allowances.
- Rewards system
In order to encourage colleagues to enhance their job performance and to take on challenging tasks, we have the “compensation and benefits management regulations” based on the situation of the whole company, the employee’s department and employee’s personal annual achievement. We use a unified calculation to offer performance rewards which is a clear evaluation of and feedback on the employee’s devotion to the job. To praise outstanding employees and encourage them learning from each other between different departments, those employees with superior performance will be posted by their superiors at any time or regular intervals (each quarter).
In order to ensure that the objectives of the company, of the department and of our employees are connected, through communication between superiors and their team and through the process of evaluation, we can enhance our staff’s capacity and effectively implement the company’s operational strategy. The performance management regulations in 104 include everyone in the company. The president sets the strategic goal and evaluation indicators for the whole company/operational groups/departments, and superiors settle the annual objective and development plan with each employee which allow both parties to reach a consensus and to bring results.
The performance assessment system is applied at the end of the trial period for new employees. For other staff, also applied at end of year for all employees. Normally, at the beginning of the year, performance objectives and development plans are settled, and in the middle and at the end of the year, the superior and each employee meet to review the progress and to see if there is a difference between the achievement and the objective. There are rewards for those who have met their objectives. And the superior set a modified plan for those who fell behind the plan or were unable to attain their objective. The results of the performance assessment become the basis of promotions, position changes, compensation management or rewards.
Through regular performance assessment, we can assure our employees grow in their core skills and that we can maintain their objectives in accordance with the company’s objective, thus we all grow together.
104 creates a quality working environment and offers a variety of welfare policies to improve the productivity and morale of employees and further reduce overtime, allowing employees to maintain their quality of life and life-work balance.
We formulate “Retirement management regulations” and adhere to amended and promulgated Labor Pension Act (new system) of July 4, 2007. Employers shall on a monthly basis make labor pension contributions to the employee’s individual labor pension account managed by the Bureau of Labor Insurance. For employees who were on board before July 4, 2007, covered by the Labor Standards Act Pension System (old system), we set up a Supervisory Committee of Business Entities’ Labor Retirement Reserve which precisely calculates the appropriate labor retirement reserve fund each month for retirement payment with Central Trust of China. These plans would provide greater security in life after employees’ retirement.
In addition, 104 has the employee stock ownership trust program designed for full-time employees who have taken office for three months or more; eligible employees may choose to join the program.
- Employee Welfare Committee
104 set up the Employee Welfare Committee to plan, take care of and promote employee benefits. The Employee Welfare Committee has established the Club Establishment and Subsidization Regulations and the Emergency Condolence Regulations.
Club activities allow employees to cultivate interest and develop the interpersonal network that supports their work. The Employee Welfare Committee provides employees with channels to establish clubs and participate in club activities and offers subsidies to enrich the time at and after work. Currently, 104 has a lot of club, Volunteer Club, Bible Study Club, Badminton Club, Board Game Club, Stress Relief Club, Urban Small Farmer Club, and other club.