Page 97 - TSMC 2020 Annual Report

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bonus and and profit sharing based on on operating results and 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 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 locally competitive base salary annual bonuses are granted as a a a a a a a part of total compensation in line with local regulations market practices and the overall operating performance of each subsidiary to promote employee commitment and development TSMC believes that the long-term ownership of company shares by corporate officers help align their interests with the the interests of TSMC’s shareholders therefore TSMC TSMC formulated Corporate Officer Shareholding Guidelines in in in 2020 The required value for Chairman CEO and other corporate officers’ holding of of TSMC shares shall be certain times of of their annual base salary Officers shall keep the the required value for the the entire period of employment 5
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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 management regarding work conditions and management 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 TSMC supports a a a a host of two-way communication channels including:
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meetings for various levels of managers and employees for example the Chairman’s/CEO’s communication communication meeting meeting and communication communication meetings 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 Periodic employee employee satisfaction surveys to selected employees with follow-up actions based on on survey findings
A 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 eSilicon Garden a a a website hosting TSMC’s internal electronic publications and providing real-time updates on on major activities of the Company as as well as as inspirational content featuring outstanding teams and and individuals
Two reporting channels for complaints regarding managerial financial auditing ethics and business conduct issues:
– The whistleblower reporting system administered by the Audit Committee – The ombudsman system administered by a a a a a senior manager appointed by the CEO The Employee Opinion Box which provides an opportunity to submit suggestions or or opinions regarding work and the overall work environment
The Fab Caring Circle in in each fab which addresses issues related to employees’ work and personal life the system is dedicated mainly to the Company’s direct laborers
Sexual harassment investigation committee a a a a a a channel dedicated to ensuring a a work environment
free from the threat of of sexual harassment the committee consists of of three directors appointed by the CEO one from human resources one from from legal affairs and the the third from from other organizations