Page 89 - 2017 TSMC Annual Report

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Apart from internal training resources our our employees are also subsidized when pursuing external short-term courses for-credit courses and degrees 5 5 5 5 4 Compensation
Employment at TSMC entitles employees to a a comprehensive compensation and benefits program above the industry average TSMC provides a a a a a diversified compensation program that is competitive externally fair internally and adapted locally TSMC adheres to the philosophy of sharing wealth with employees in in order to attract retain develop motivate and reward talented employees With sound business results for the the past 30 years the the actual total compensation received by employees has also been above the industry’s average TSMC’s compensation program includes a a a a a monthly salary employee cash bonuses based on on quarterly business results and an an an employee profit profit sharing bonus based on on annual profits The purpose of of the employee cash bonus and profit sharing bonus programs is to reward employee contributions appropriately to to encourage employees to to work consistently toward ensuring the success of TSMC and to to align employees’ interests with those of TSMC’s shareholders so as to achieve win-win among the Company shareholders and employees The Company determines the the amount of the the cash bonus and profit sharing bonus based on on operating results and industry practice in in the Republic of China The amount and distribution approach of of the employee cash bonus and profit sharing bonus are recommended by the Compensation
Committee
to to the Board of Directors for approval Individual rewards are based on on on on each employee’s job responsibility contribution and performance The same philosophy applies to TSMC’s compensation programs of overseas subsidiaries In addition to providing employees of TSMC’s overseas subsidiaries with a a a a locally competitive base salary the Company grants annual bonuses as a a a a a a a a part of total compensation The annual bonuses are granted in in line with local regulations market practices and the overall operating performance of each subsidiary to encourage employee commitment and development with the Company 5 5 5 5 5 5 5 5 5 Employee Engagement
The Company encourages employees to maintain a a a a a a a healthy and well-balanced life while pursuing their goals effectively TSMC continuously facilitate employee communication and provide employee caring benefit rewards and recognition programs including:
Employee Communication
TSMC values two-way communication and is committed to keeping communication channels open and transparent for the management subordinates and peers To ensure that employees’ opinions and and voices are heard and and their issues
are addressed effectively impartial submission mechanisms including quarterly labor-management communication meetings are in in place to provide fair and timely support TSMC makes continuous efforts to facilitate mutual and timely employee communication based on on multiple channels and platforms which in turn fosters harmonious labor relations and creates a a a a a win-win situation for the Company and employees A host of two-way communication channels are constructed to maintain the free flow of information between managers and employees including:
● Communication
meetings for various levels of managers and employees ● Periodic employee satisfaction surveys with follow-up actions
based on the survey findings ● The employee portal myTSMC an internal website featuring
the Chairman’s talk corporate messages executive interviews and other activities of interest to employees ● eSilicon Garden a a a website hosting TSMC’s internal electronic
publications providing real-time updates on on major activities of the Company as as well as as inspirational content featuring
outstanding teams and and individuals ● The whistleblower reporting system administered by the audit committee and the ombudsman system led by an an an appointed vice president – two distinct channels each with strict confidentiality – to handle complaints regarding major management financial auditing ethics and business conduct issues
● The employee opinion box which provides an opportunity for employees to submit suggestions or opinions regarding their work work and the overall work work environment ● The Fab Caring Circle in in each fab addresses the issues
related to employees’ work and personal life the system is dedicated mainly to the Company’s direct labor workers