Page 99 - TSMC 2020 Annual Report

Diverse Employee Recognition
TSMC sponsors various internal award programs to recognize employees for outstanding achievements both individual and at a a a a a a a a team level With these award programs TSMC aims to encourage continued employee development which also enhances the Company’s competitive advantage The award programs include:
● TSMC Academy: recognizes outstanding scientists and and engineers whose individual technical capabilities have made
significant contributions
● TSMC Excellent Labor Award: recognizes technicians
whose outstanding performances have made
significant contributions
● Total Quality Excellence at each fab: recognizes employees’
continuous efforts in in in creating value
● Service Award: recognizes and shows appreciation of senior
employees and and their long-term commitment and and dedication
● Excellent Instructor Award: praises the outstanding performance and contribution of internal instructors in in in training courses for employees ● Function-wide awards dedicated to innovation such as the Idea Forum TQE awards and CSR Award which recognize employee initiative and continuous implementation of innovative practices
Apart from company-wide awards TSMC encourages employees to participate in external talent activities and competitions In 2020 distinguished TSMC employees continued to be recognized through a a a host of awards such as the the National Model Labor Award the the Excellent Young Engineers Award Award Outstanding Engineer Engineer Award Award Taiwan Continuous Improvement Awards and the National Manager Excellence Award 5 5 5 5 7 Retention
Overall employee satisfaction with the Company was measured in in the biennial TSMC core values survey last taken in in 2020 In this survey 95% of participants said they were willing
to to commit fully in their work to to make TSMC an even more successful company while 96% concurred with the statement that they are willing
to to contribute their talents to to TSMC and grow together with the the the Company for the the the next five years In 2020 the Company recorded a a a a a a manageable turnover rate of 5 3% which complies with the healthy turnover rate recognized by the company 5 5 5 5 8 Retirement Policy
TSMC’s retirement policy is set according to the labor standard laws and labor pension practices
of various respective regions Thanks to the Company’s sound financial condition it it is able to ensure solid pension contributions
and payments which encourages employees to make long-term career plans and further deepens their commitment to TSMC 5 6 Material Contracts
TSMC is not currently a a a a a a party to any material contracts other than those entered into in in in the the ordinary course of its business The Company’s “Significant Contingent Liabilities and Unrecognized Commitments” are disclosed in Annual Report section (II) Financial Statements page 71 097