GOVERNANCE Corporate Governance
• Human Resources Policy
- We are committed to seeking partners who wish to grow together with us. The Tait Marketing and Distribution Co., Ltd. values the work enthusiasm and required competencies from our employees. Our employment policy remains unaffected by the influence of factors such as gender and age. We also create an equal and safe work place for our employees to dedicate themselves to the work and grow with the company.
- An Analysis of Tait Employees
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- Period of Financial Statements：2022
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•Number of full-time employees who are not in supervisory positions(annual average)：90(persons)
•Salary information for full-time employees who are not in supervisory positions：74,146(NT$ thousands)
•「Average Salary」 for the non-supervisory full-time employees：824 (NT$ thousands)
•「Median Salary」 for the non-supervisory full-time employees：729(NT$ thousands)
- Period of Financial Statements：2023
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•Number of full-time employees who are not in supervisory positions(annual average)：91(persons)
•Salary information for full-time employees who are not in supervisory positions：73,585(NT$ thousands)
•「Average Salary」 for the non-supervisory full-time employees：809 (NT$ thousands)
•「Median Salary」 for the non-supervisory full-time employees：705(NT$ thousands)
• Welfare matters
Tait review the salaries of personnel every year with reference to the company's operating performance and market salary levels to maintain the competitiveness of talents, and provide employees with various welfare measures.
Allowances∣Gifts∣Pensions∣Trips∣Club activities∣Education & Training
• Employee compensation
1. Article 31 of Articles of Incorporation of Tait Marketing & Distribution Co., Ltd.
If the Company makes a profit for the year, it shall contribute not less than 2% to the remuneration of its employees and 2% or less to the remuneration of its directors and supervisors. If the Company has accumulated losses, it should retain the amount to cover the losses in advance. The profit for the year referred to in the first paragraph means the profit for the year before taxation before deductions for distributions to employees' and directors' emoluments. Employee remuneration is payable to employees of the Company's subsidiaries who meet certain criteria.
2. Compensation policy
Tait adjusts salary according to market salary level, economic trend and personal performance. Based on the 22.7% increase in pre-tax net profit in 2021 compared to the previous year, and the salary adjustment level compared with the market (P50), the average annual salary increase in 2022, including executive and non-executive positions, is 2.5%.
Based on the 24.2% increase in pre-tax net profit in 2022 compared to the previous year, and the salary adjustment level compared with the market (P50), the average annual salary increase in 2023, including executive and non-executive positions, is 3.0%.
Based on the 5.2% decrease in pre-tax net profit in 2023 compared to the previous year, and the salary adjustment level compared with the market (P50), the average annual salary increase in 2024, including executive and non-executive positions, is 3.2%.
• Policy on linking senior managers’ compensation and ESG-related performance evaluations
1. The performance evaluation of the managers and the staffs can be divided into: ①financial indicators: achievement rate of operational targets and growth rate compared to last year's operational performance,accounts for 80% of the overall evaluation. ②non-financial indicators: project achievement status (new brand introduction / new product development / new channel development/Specific project execution performance...), accounts for 10% of the overall evaluation.③ESG indicators：ESG performance table of assessment and evaluation indicators for 7 types of risks, accounts for 10% of the overall evaluation. Calculate the remuneration for its operating performance, and review the remuneration system at any time based on the actual operating conditions and relevant laws.
2. In order to encourage senior managers, outstanding key professionals and all employees to pay attention to long-term comprehensive performance and achieve sustainable operations, the six sustainable development strategies and goals are communicated with the company's general managers, senior managers and business department heads. Short-term and long-term incentive compensation links.
2-1. General Manager：performance indicators-Sustainable development performance(10%)｜Implementation modalities-Green product innovation(4%)、Low carbon manufacturing transformation(4%)、Occupational safety and health(2%)
2-2. Senior Managers：performance indicators-Sustainable development performance(10%)｜Implementation modalities-Green product innovation(2%)、Low carbon manufacturing transformation(2%)、Occupational safety and health(2%)、Sustainable Responsible Procurement(4%)
2-3. Business Department Manager：performance indicators-Sustainable development performance(10%)｜Implementation modalities-Green product innovation(2%)、Low carbon manufacturing transformation(2%)、Occupational safety and health(2%)、Circular economy(4%)
• The Company's retirement system
Tait Marketing & Distribution Co., Ltd. has established the "Employee Retirement Benefit Scheme". Employees who have (1) 15 or more years of service and are at least 55 years of age, (2) 25 or more years of service, and (3) 10 or more years of service and are at least 60 years of age may give the Company one month's notice of their intention to retire before their expected retirement date. Pensions are paid in accordance with the standards of the pension system applicable to officers.
- Tait Marketing & Distribution Co., Ltd. has established the "Employee Retirement Benefit Scheme". Employees who have (1) 15 or more years of service and are at least 55 years of age, (2) 25 or more years of service, and (3) 10 or more years of service and are at least 60 years of age may give the Company one month's notice of their intention to retire before their expected retirement date. Pensions are paid in accordance with the standards of the pension system applicable to officers.
- Old System Retirement System: Old System Retirement System: For employees who joined the Labor Retirement Fund before June 30, 2005 (inclusive), the retirement pension for those who choose the old system or those who choose the new system but have retained years of service in the old system can be calculated in accordance with Article 55 of the Labor Standards Act. Two months' average wage for each year of service under the old system. For each year of service exceeding 15 years, one month's average wage shall be paid. A maximum of 45 months' average salary is payable in total. The Company has established a "Labor Retirement Reserve Supervisory Committee", which meets regularly on a quarterly basis and makes a monthly contribution of 8% of the salaries of existing employees (1% of all employees) to the Labor Retirement Reserve Account. Starting from August 2022, the Bureau of Labor Affairs approved a one-year suspension of contributions to the pension fund for those who have already made full contributions to the pension fund for those who are estimated to have completed the old system. In July 2023, a reassessment will be conducted, and an application has been submitted for approved continued suspension of contributions until July 2024.Subsequent annual reviews will be conducted to ensure that the pension reserve is fully funded.
- New Retirement System: For employees who joined the Company before June 30, 2005 (inclusive), the Company will make monthly contributions of 6% to the individual accounts of the Labor Insurance Bureau in accordance with the Labor Pension Act for employees who joined the Company after July 1, 2005 (99% of all employees) based on their labor retirement contribution wages from the date they elected the new pension system.Assistance will also be provided to staff who apply for a 6% or less increase in their own contributions (approximately 13% of staff have applied for voluntary contributions in 2023). Upon retirement, employees will be able to apply for a personal pension from the Labour Insurance Bureau in accordance with the Labour Pension Act.
- Tait shall pay the retirement benefits to employees within thirty days from the date of retirement.
• Education & Training
Depending on the needs of our staff at different stages of their work, our education and training can be divided into: new recruits training, professional competency training and management competency training. In addition to in-house training and sharing, the Company also invites external professional lecturers or specialised staff to attend external public courses or seminars from time to time to enhance the working knowledge and competence of our staff.
The Company will arrange internal education and training for new staff. The course will cover the following topics: company rules and regulations, compliance with laws and regulations, code of conduct for honest management, procedures and conduct guidelines for honest management, prevention of insider trading, and promotion of the prohibition of insider trading. Through the courses, we will promote the ethical conduct of our employees as the primary requirement for our employees. We will also help our staff to quickly familiarise themselves with the organisational environment and basic regulations by providing an introduction to the operating system, brand introduction, product launch and logistics instructions.
People are the most important asset of a company. Therefore, during their employment, the Company will enhance their working knowledge through internal sharing in modules or cases. In order to develop the professional or management skills of our staff, we will assist in arranging appropriate external courses to enhance their working abilities. In addition, to encourage employees to develop a habit of reading and absorbing new knowledge, the Company subscribes to books, newspapers and magazines for loan to employees, and provides the “CommonWealth Magazine- Read All Online" program for mid-level executives and above. The total expenditure in 2022 is approximately $32,000.
• Safty working environment
The safety of our staff is our top priority. Dangerous equipment should be avoided in the workplace. Fire-fighting equipment is regularly inspected by the Building Management Committee. Access to the office building is managed by security personnel. Surveillance equipment is provided in common areas so that security staff can monitor abnormal conditions at all times. The office entrance is also controlled by an access control system during non-working hours and entry is by means of an identification card. From time to time, mailings are sent out to promote and remind staff of disaster and work safety concepts and measures to enhance their safety. In the event of a natural disaster (e.g. typhoon), the Human Resources Department will, in the first instance, refer to the announcement of the municipal government of the prefecture where the employee works, resides or has access to, and will still pay the employee as normal, so as to reduce the chance of the employee risking his or her attendance at work. No work-related injuries have occurred in the workplace in the past three years. In case of epidemic diseases or disasters, such as influenza, earthquake, etc., the Company will from time to time promote prevention or precautionary measures to enhance employees' knowledge of epidemic and disaster prevention. The Company also makes use of the Group's or external resources (e.g. government agencies, disaster prevention associations) to arrange 1-2 hours of safety or health talks within the Company from time to time. However, from 2020 onwards, in response to the COVID-19 global epidemic, we will suspend the arrangement of external lecturers and instead provide in-house occupational safety and health education and training to ensure that our staff are aware of work safety and disaster prevention and are familiar with various first aid SOPs. In 2023, we completed occupational safety and health education and training for all employees, and arranged a second session of fire prevention self-defense firefighting drill courses.
From 2023 onwards, in response to the COVID-19 epidemic, all department heads are invited to hold regular COVID-19 epidemic prevention meetings under the chairmanship of the General Manager. In order to maintain a safe working environment and the health of our staff, in addition to communicating the latest epidemic situation, various epidemic prevention measures are discussed and decided upon to minimise the impact of the epidemic on our operations. The Human Resources and General Affairs Department is responsible for coordinating the planning of all epidemic prevention measures, announcing the epidemic prevention measures and acting as the window for abnormal reports.
• Diversity and Gender Equality：
1. Tait has a 'Human Rights Policy' in place, committed to providing a friendly and safe working environment where employment, promotions, and compensation are not influenced by factors such as race, gender, religious beliefs, age, and more. The compensation for new employees is determined based on the job responsibilities, educational background, expertise, or certifications of the individuals hired. For existing employees, adjustments to salaries or bonuses are made based on job performance, and there is no inequality based on gender or other unrelated factors.
We have also established the 'Sexual Harassment Prevention Measures, Complaints, and Disciplinary Procedures.' Through orientation and periodic awareness training for new employees, we remind personnel to respect each other and avoid situations of sexual harassment or gender discrimination. There were no cases of sexual harassment or gender discrimination reported in 2022 and 2023.
2. Diversity Metrics
2-1) Y2022
2-1-1) Gender
2-1-2) Age
2-1-3) Others
Tait has employed 1 person with disabilities, accounting for approximately 1% of the total workforce.
2-2) Y2023
2-2-1) Gender
2-2-2) Age
2-2-3) Others
Tait has employed 2 person with disabilities, accounting for approximately 2% of the total workforce. T's employees are all Chinese nationals, and there are no foreign nationals or aboriginals.
2-3) Gender and age summary table
2-3-1) As of December 31, 2021, Tait had a total of 103 full-time employees (including 1 part-time employee) and no temporary employees; the proportion of men and women among all employees was 41%: 59%, and the proportion of men and women in supervisory positions was 57%: 43%.
2-3-2) As of December 31, 2022, Tait had a total of 109 full-time employees (including 1 part-time employee) and no temporary employees; the proportion of men and women among all employees was 39%: 61%, and the proportion of men and women in supervisory positions was 56%: 44%.
2-3-3) As of December 31, 2023, Tait had a total of 113 full-time employees (including 1 part-time employee) and no temporary employees; the proportion of men and women among all employees was 37%: 63%, and the proportion of men and women in supervisory positions was 54%: 46%.
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