Remuneration Structure

WNC regularly adjusts employees’ salaries to ensure reasonable compensation for employees as well as to attract and retain talent. Taking into consideration other factors including stockholder rights and interests, employee quality of life, and sustainable development of WNC, employee wages are also regularly adjusted according to current price levels, market supply/demand, average salary levels in the industry, and local laws/regulations.

 

WNC stipulates various reward systems to encourage full-time employees and units with excellent performance, such as performance bonuses, project bonuses, restricted stock and other equity incentive plans, as well as annual long-term employee awards, outstanding team awards, outstanding employee awards and patent awards. WNC is committed to not discriminating against employees and providing differential treatment based on gender, age, race, nationality, religion, marital status, or political view.

 

An Employee Stock Ownership Trust (ESOT) program has been set up at WNC’s Taiwan sites as a way to encourage employees to save funds for obtaining and managing company stocks. To encourage more employees to participate in the shareholding trust, the Employee Shareholders Association Charter was revised in 2021 and 2023 to relax the qualifications for membership. As of the end of 2023, a total of 1,693 employees joined the employee shareholding trust, which was an increase of 22% compared to 2022. In China and Vietnam sites, unit managers evaluate the seniority and performance of employees, then submit a list of key employees to be retained. The aforementioned managers and employees will sign a retention agreement after terms and conditions are agreed to.

 

In 2023, Universal Scientific Industrial Co., Ltd. conducted a cash capital increase, reserving 12.5% of the total issuance of new shares, amounting to 5,000,000 shares, for employee subscription. The subscription price was set at NT$106 per share, and the employee subscription rate reached as high as 99%.

WNC Employee Retention Plans in 2023Note

Item Number of eligible candidates Actual participants Amount invested (Unit: million NT$)
Employee stock ownership trust 4,961 1,693 94
Employee retention plans 468 336 31.38
Total 5,616 2,079 125.38
  • Note: Only retention plans for employees at Taiwan, China and Vietnam sites are disclosed.

Employee Retention Plan

Sites Reward plan Overview Rewards 2023 Results
Taiwan Cash bonus plan Employees who are working at WNC during the calculation period of the cash bonus and the payment date of the bonus. WNC will allocate a certain percentage of revenue for the distribution of performance bonuses, employee remuneration and project bonuses based on its business performance in the current year, and the amount of remuneration/bonuses each employee receives is based on their performance. Amounts of cash bonuses are confidential; and the number of employees entitled to cash bonuses is subject to change due to personnel movements, so this data is not disclosed.
Stock reward plan Employee Stock Ownership Trust: Full-time employees who have worked at WNC for at least six months may participate. For employees whose performance is rated B or below, the Company has the right to suspend the employer contribution for the following six months. Employees’ that are ESOT members contribute a fixed amount from their monthly salary in accordance with their job grade into the ESOT account, and WNC will match the contribution, which will also be deposited into the account and be used to purchase company shares. After three years of membership, employees are eligible to receive 50% of the shares purchased with WNC’s contribution. After four and five years the percentage goes to 70% and 100%, respectively. The ESOT helps WNC retain talent, helping to ensure that employees are able to share in the success of the company and create further value together with WNC. By the end of 2023, there were 4,961 qualified employees, of whom 1,693 employees were participating in this plan, a participation rate of 34%, and more than NT$94 million had been withdrawn from the Company’s fund.
Restricted Stock: Mid- to upper-level employees who have made significant contributions to WNC’s business performance. WNC gives restricted stock to employees over a period of three years, and employees obtain these stocks if business performance targets and personal performance targets for the current year are achieved. A total of 102 employees received the reward with the total bonus amount of over NT$220 million.
Outstanding Patent Awards WNC units submit patents they have obtained to the Patent Selection Committee for review, then WNC’s President & CEO selects the winners. The winning teams of the Outstanding Patent Awards will receive medals and prize money. Those who win a Platinum Award will receive NT$100,000 per patent, those who win a Gold Award will receive NT$60,000 per patent, and those who win a Silver Award will receive NT$30,000 per patent based on the contribution. The winners will also get an extra ticket for the lucky draw at the year-end party. Five employees received bonuses, with a total amount of NT$180,000.
CIP projects Project teams submit CIP projects that were completed in the past two years to an evaluation committee composed of personnel from the DMIS Division and the Finance Division for review. The committee will select projects that have shown to bring significant financial benefits to WNC, and the selected projects will be presented to the President & CEO, who will select the winners. The winning teams will receive medals and prize money. Teams who win the Gold Award will receive NT$50,000, and teams who win the Silver Award will receive NT$20,000. Winning teams will also get extra tickets for the lucky draw at the year-end party. Two employees received bonuses, with a total amount of NT$50,000.
Outstanding employees The nominees are evaluated by a committee, and then the President & CEO selects the winners. Outstanding employees will receive a commemorative plaque and NT$5,000 in prize money as well as an extra ticket for the lucky draw at the year-end party. A total of 70 employees received bonuses, with a total amount of NT$350,000.
Outstanding teams Outstanding team winners receive prize money. Teams who win a Gold Award receive NT$20,000, teams who win a Silver Award receive NT$15,000 and teams who win an Outstanding Team Award receive NT$10,000. Winning teams will also get extra tickets for the lucky draw at the year-end party. Leaders and MVPs of outstanding teams also receive a commemorative plaque. A total of 76 employees received the bonuses, with a total amount of NT$300,000.
Employees with seniority Employees that have worked at WNC for 5, 10, 15, 20 and 25 years. Employees with seniority are commended at the year-end party, and each receive a commemorative plaque and an extra ticket for the lucky draw at the year-end party. A total of 449 employees were commended.
China Employee retention plans Unit managers will evaluate the seniority and performance of employees, and then submit a list of key employees to be retained. The aforementioned managers and employees will sign a retention agreement after terms and conditions are agreed to. The time period for the plan is two years. If an employee’s performance meets the requirements in these two years, the retention bonus is given in batches. If the employee resigns within two years, they must give back retention bonuses that they’ve already received. The Kunshan site distributed employee retention bonuses to 250 employees with an amount of about RMB4.34 million; the Nanjing site distributed retention bonuses to 86 employees with an amount of about RMB2.78 million.
Vietnam The time period for the plan is three years. The bonus is 40% of the salary amount given to social security and is paid monthly. Prior to bonus payment, the most recent performance rating is taken into account. If the rating is A or higher, the employee is entitled to payment of the full bonus amount; if the rating is A-, 50% of the bonus amount is paid; if the rating is below B, the employee’s retention contract is deemed to be terminated. However, the employee is not required to return the bonuses they’ve already received. The Vietnam site has distributed talent retention bonuses to 50 employees with the total amount of approximately VND400 million.

Employee Support Program

To help employees maintain a work/life balance, in addition to providing diverse work modes, all WNC sites have leave regulations and relevant management measures, such as maternal and child support leave, for full-time employees and contract personnel that are superior to the requirements stipulated in local laws and regulations.

 

Taiwan Sites

China Sites

Vietnam Sites

Green Marketplace

At the end of 2013, WNC launched a clean food movement, becoming the 1st large-scale enterprise in Hsinchu Science Park to use 100% organic vegetables in its employee cafeterias. Caterers also reduce excessive processing and over-seasoning. This helps provide employees with healthier lunch and dinner options. Special activities such as healthy meals and green diet are occasionally held. These activities have been continuously organized for the last 10 years. In 2022, cafeterias for WNC employees were transformed and positioned as Green Marketplaces, with four major initiatives: regular safety and health inspections, selecting of certified high-quality products, promoting green consumption and practicing environmental sustainability.

 

In December 2022, WNC became the first large-scale enterprise to provide guidance for the use of green foods as part of the “Green Foods Promotion”; In 2023, we applied for tier 1 restaurant certification, and will continue to develop policies related to the use of healthy ingredients and green foods.

Good Food Movement

Social

Share healthy diet tips with employees. Cooperate with other social enterprises to promote good food.
Mutual Prosperity and Growth

Economic

Organic foods from independent farmers Cooperate with other social enterprises to promote good food.
Green Economy

Environmental

Share healthy diet tips with all employees. Organic foods from independent farmers.