Page 86 - TSMC 2019 Annual Report

Direct labor – for production-line employees to acquire the knowledge skills and approaches they need to perform their jobs well and to pass certification for operating equipment Includes direct labor skill training technician “Train the Trainer” training training and manufacturing leadership training training Customized – programs tailored to to the the needs of the the organization and/or the employee’s development plan In 2019 TSMC conducted 1 1 1 1 115 internal training sessions and provided over 740 thousand hours of of training and and a a a a a total of of more than 700 thousand attendees participated On average each employee attended over 14 hours of training and TSMC spent over NT$59 million on on on the education and development of employees Apart from internal training resources TSMC employees are also subsidized when pursuing external short-term courses for-credit classes and degrees 5 5 5 5 5 5 5 5 5 Compensation
TSMC employees are entitled to a a a comprehensive compensation and benefits program above the industry average TSMC provides 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 performing employees Thanks to solid business results over the the past 30 years the the actual total compensation received by employees has 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 employee profit profit sharing bonus based on on annual profits The purpose of o 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 TSMC success and to to align employees’ interests with those of TSMC’s shareholders so as to achieve wins for the Company Company shareholders and employees The Company Company determines the the amount of o the the cash bonus bonus and profit sharing bonus bonus based on operating results and industry practice in in in the Republic of China The amount and distribution of the employee bonuses are recommended by the the Compensation
Committee to the the Board
of Directors for approval Individual rewards are based on each employee’s job responsibility contribution and performance The same philosophy applies to TSMC’s compensation programs in in overseas subsidiaries In addition to providing employees with a a a a a a a a a locally competitive base salary the Company grants annual bonuses bonuses as a a a a a a a part of total compensation The annual bonuses bonuses are granted in in line with local regulations market practices and the overall operating performance of each subsidiary to promote employee commitment and development 5 5 5 5 6 Employee Engagement
The Company encourages employees to maintain a a a a a a a healthy and well-balanced life while pursuing their career goals effectively TSMC continuously facilitates employee communication and provides employee caring benefit rewards and recognition programs Employee Communication
TSMC values two-way communication and is committed
to keeping communication channels open and transparent
for management subordinates and peers The Company is committed
to to ensuring that employees are able to to communicate openly and and share ideas and and concerns with management regarding work conditions and management practices without fear of discrimination reprisal intimidation or harassment TSMC makes continuous efforts to to listen to to the voice of employees and and to facilitate mutual and and timely employee employee communication based on on multiple channels and platforms which in turn fosters harmonious labor relations and creates a a a a a a win-win situation for the Company and employees The Company supports a a a a host of two-way communication channels including:
• • • • • • • Communication
meetings for various levels of managers and employees for example the Chairman’s/CEO’s communication meeting meeting and communication meetings in in in in individual functions/ divisions Quarterly labor-management meetings to provide business updates and and invite employees to discuss labor conditions and and welfare activities Aperiodic employee employee satisfaction surveys to selected employees with follow-up actions based on on survey findings The Core Value survey taken biennially to understand the Company’s implementation of core values and employees’ commitment and engagement myTSMC employee portal an internal website featuring the Founder’s Chairman’s and CEO’s talks corporate messages executive interviews and other activities of interest to employees 84