LITEON offers a comprehensive range of training courses and compensation and benefits to encourage employees pursue self-improvement and achieve career growth. Job descriptions given during interviews will remain consistent after recruits report for work. Managers and human resources officers will also try to reduce new hire turnover by interviewing new employees to find out how they are settling into their positions. New employees will be given assistance in the form of education and training to help them fit into the corporate environment.
When an employee submits a resignation, the human resources department will conduct an interview and analyze key factors in retention and resignation in
order to improve the retention rate.
In terms of compensation packages, LITEON has designed regular compensation reviews to ensure the company is able to retain talent while ensuring all employees receive above-average compensation. LITEON also encourages individual departments to implement reward programs to boost morale and improve business performance, effectively creating a win-win situation.
In terms of talent management strategies, LITEON has implemented a human resources management blueprint and an education and training system to provide courses on core management competencies and essential professional
skills. These programs are intended to broaden the horizon for employees, enhance management knowledge and skills for managers, develop a common
management language, create a healthy corporate culture, and lay the foundation for sustainable development.
LITEON, regardless of where it operates, offers competitive compensation packages and conducts salary surveys each year to align salary levels with the current market and with the various economic indicators used in the analysis. As a means of attracting top talents, LITEON offers some of the best starting salary packages for new hires.
The remuneration policy for managers follows the LITEON Guidelines for Appointment and Dismissal of Managers and Remuneration. Remuneration is based on the average level of pay offered by competition for the same position, the authority and responsibility of the position, and the contribution to the company's business targets. In terms of justifying CEO compensation, the average pay ratio of top manager(CEO) to other employees is 266.1% in 2021.
Regular employee remuneration is determined according to the Remuneration Management Guidelines by education, knowledge and skills, seniority, and individual performance. In no way does gender play a part in these decisions. New employees are not given different starting salaries on the basis of their race, religion, political views, gender, marital status, or union association. LITEON regularly has third-party consulting firms perform remuneration reviews in order to understand current market standards and trends. LITEON devises the remuneration policy based on the following rules:
LITEON is aware of and complies with relevant local laws and regulations, strives to establish harmonious employer-employee relations within the scope of the law, and thereby promotes sustainable management.
LITEON invests continuously in employee benefits to meet the needs of our workforce, including work-life balance, health, and safety. Apart from wages and salaries, our employees receive various non-work-related allowances and benefits for themselves and their families. By utilizing the Anker Methodology and Fair Wage Network database, we have been assessing whether our employees receive a living wage since 2022 and are in the process of expanding this assessment to include our suppliers and contractors. In 2022, all of our operations, except for non-disclosing sites for confidentiality and GDPR compliance reasons, implemented a living wage. LITEON remains committed to providing its employees with fair compensation and a living wage.
In order to maintain competitiveness in the employment market, pay is set and adjusted in reflection of manpower supply and demand and the profitability of product lines.
In order to incentivize employees, the company strives to pay appropriate salaries reflecting the market value of professional functions, the contributions of employee, and the results of the performance management system.
Starting salaries offered to direct labor not only have to comply with local regulations, but are also competitive when compared to industry peers. Currently, LITEON's starting salary for direct labor is approximately 1.05 times the minimum wage in Taiwan, 1.28 times in Mainland China, 1.36 times in Thailand, 1.13 times in Vietnam, and 1.18 times in India.
The worldwide base gender pay gaps ratio by pay grade are shown in the table below:
Compensation for overseas employees has been set at reasonable and competitive levels depending on local market conditions. Meanwhile, long-term and short-term bonuses are also offered as added incentives according to local regulations and industry practices. Overseas employees are covered by social insurance schemes as required by local regulations.
LITEON makes contributions to employees' pension funds according to local regulations, regardless
of where it operates in the world. Today, 100% of its employees have joined a pension plan. In Taiwan,
the pension policy complies with the Labor Standards Act where contributions are made regularly to
employees' pension accounts; Employees in Mainland China are insured according to local regulations
and the company makes full contributions to the pension plans in order to secure a comfortable
lifestyle for retired employees. For employees in Thailand, companies establish pension policies and
make employees' pension contributions in compliance with local regulations. The human resource
department regularly reviews the list of soon-to-be-retiring employees, and will inquire about their
plans for retirement and help them make career plans.
In Taiwan, employees' pension schemes are governed either by the Labor Standards Act (the old scheme) or the Labor Pension Act (the new scheme) of the Republic of China. Employees who came onboard on or before June 30, 2005, are entitled to carry forward their years of service from the old scheme to the new scheme. Under the old scheme, the company contributes 2% of employees' monthly salaries into a pension account held with the Central Trust of China. This reserve has accumulated to NTD1.05 billion to date, and is fully funded to provide for employees' retirement needs. Under the new scheme, the company contributes 6% of employees' monthly salaries into their personal pension accounts. In addition to the monthly 6% contributions made by the employer, employees may also choose to contribute another 0%~6% of their salaries into their pension accounts.
Diverse Welfare Systems
Employees are LITEON's best partners on the path to sustainability. LITEON continues to build a comprehensive employee welfare system that takes care of the physical and mental health of employees. LITEON also strengthens occupational health and safety management at the plants in order to create a "passionate, motivating, innovative, and growing" environment and give employees an enjoyable work experience at LITEON.
All benefits provided by LITEON around the world comply with or are better than the requirements of local regulations. Certain benefits are modified to suit individual plants.
Employee Assistance Programs (EAPs)
LITEON's all operational sites worldwide protect the rights and interest of the employees according to the local laws and regulations. Taking sites in Taiwan as an example, according to regulations in Taiwan, all employees need to be insured under the Labor Insurance and National Health Insurance schemes from their onboard date, and have contributions made to pension funds. In addition to mandatory coverage, the company provides group insurance policies that offer better medical protection and cover: life, accidental death, hospitalization, cancer, and emergency medical treatment. Employees may choose to include their spouse/children/parents in the coverage at additional cost. Furthermore, the company offers even broader group insurance coverage for out-stationed employees, giving them the peace of mind when working overseas.
Employee Turnover Rate
Analysis of 2020 Employees on child-care long-term leave (Taiwan)
LITEON oﬀers a variety of assistance to employees with childcare needs, such as the option to take extended leave, choose diﬀerent career paths, and receive subsidies. A total of 28 employees applied the childcare long-term leave, and 62% of those who did come back to job in 2021. It shows that LITEON provides a good employee care mechanism, so that employees with childcare needs can balance family and work.
Employee Care ▸