Employee Compensation and Benefits
SDGs:
-
GOOD HEALTH AND WELL-BEING
3
-
GENDER EQUALITY
5
-
DECENT WORK AND ECONOMIC GROWTH
8
-
RESPONSIBLE CONSUMPTION AND PRODUCTION
12
-
PARTNERSHIPS FOR THE GOALS
17
As we continue to expand our business, we offer competitive compensation and benefits to attract passionate and diverse talents in the retail sector. In addition, we seek to retain top talents by providing clear promotion paths and fair performance evaluation systems. In 2022, we gave pay raises to entry-level employees, increasing their compensation by an average of 6%. We also continued to promote active and open club activities as well as various welfare measures for employees. In 2022 we were able to successfully attract new talents to SKM. In 2023, the FTE recruitment rate was 25.96%, while the turnover rate was 28.55%, mainly due to the closure of the Taoyuan Dayou store.
Performance Evaluation System
In 2023, SKM conducted performance evaluations for 96.68% of employees; 99.54% of employees in managerial positions and 95.96% in other positions received performance evaluations and career assessments. The remaining 3.32% that did not receive performance evaluations were employees who did not meet the requirement of having consistent attendance for a minimum of three months or those who were not present during the evaluation period. SKM will continue to enforce our performance evaluation system to facilitate adaptive development in our employees and ensure that they build successful careers at SKM.
Percentage of Employees that Regularly Received Performance Evaluations and Career Assessments in 2021-2023
Management
Others
| 2021 | 2022 | 2023 | ||||||
|---|---|---|---|---|---|---|---|---|
| Male | Female | Average | Male | Female | Average | Male | Female | Average |
| 97.28% | 99.16% | 98.35% | 98.94% | 98.72% | 98.82% | 100.00% | 99.17% | 99.54% |
| 2021 | 2022 | 2023 | ||||||
|---|---|---|---|---|---|---|---|---|
| Male | Female | Average | Male | Female | Average | Male | Female | Average |
| 94.75% | 94.21% | 94.39% | 95.93% | 94.08% | 94.86% | 96.42% | 95.73% | 95.96% |
-
Note:
- Table details the percentage of employees who have regularly received performance evaluations or career assessments = employees that regularly receive performance evaluations or career assessments / total number of employees.
- Managerial positions include employees at the section leader level or above.
- Employees who did not receive performance evaluations were employees who did not meet the requirement of having consistent attendance for a minimum of three months or those who were not present during the evaluation period.
Diverse Welfare Packages for Employees
SKM offers employees a diverse welfare package of up to 18 programs, including subsidies for health checkups, parental leave, Personal Growth Plan, education, and childcare/preschool/senior support, all of which exceed regulatory requirements. During the pandemic, we also implemented additional measures such as paid leave for COVID-19 and COVID-19 care packages for home isolation to offer our employees peace of mind.
2021-2023 SKM Investments in Welfare Packages for Employees
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Total(NT$) | 27,644,922 | 25,675,284 | 24,762,284 |
- Note: Table covers SKM's investments in welfare packages for employees across all major SKM locations. Major SKM locations are defined as all SKM department stores in Taiwan.
Benefits
General benefits
Marriage bonus
Funeral/
hospitalization consolation money
Baby bonus
Child's school enrollment bonus
Major disaster consolation money
Optional benefits
Healthy life benefit plan
Childcare/
senior care allowance
Child education subsidy
Personal growth plan
Leisure and travel
Safeguarding Employee Health
To care for employee health and create a healthy workplace, we introduced "health promotion" to turn the passive disease prevention mentality into active maintenance of physical and mental health. This way, we can protect the precious human resources of the company and provide employees with a safe and healthy workplace.
Promoting five health actions
| Work items | Content |
|---|---|
| Health examination | We arrange employee health examinations every year, which is better than the regulatory requirements (one examination every three years for those under 45, one examination every two years for those over 45). We provide different frequencies and health examination programs according to age and job content for employees to choose from, safeguarding employee health. |
| Health management | Maternal health protection measures in the workplace: Those who need the protection (pregnancy and postpartum) can express their needs. The nursing staff will then conduct a preliminary risk assessment for the person. On-site doctors should carry out hazard control and recommend improvements according to the assessment results. |
| Preventive measures for abnormal workload: The nursing staff and occupational safety and health personnel will conduct an abnormal workload risk assessment for employees. According to the potential risk groups categorized by the company, the on-site doctor and nursing staff will screen and classify the high-risk groups of diseases caused by abnormal workload. Lastly, the on-site doctor will decide if the employee requires overload consultation. | |
| Preventive measures for ergonomic hazards (musculoskeletal disorders): The nursing staff will conduct musculoskeletal disorder investigations. The occupational safety and health personnel will conduct assessments based on the investigation results to identify the main hazards, make improvement plans based on the assessment results, and implement improvement measures. | |
| Workplace violence prevention measures: The occupational safety and health personnel will conduct workplace violence risk assessments. The nursing staff will hold relevant education and training for the needs assessed. | |
| Mental health care measures: To promote mental health care, we provide a wide range of lectures, de-stressing activities, and courses so employees know how to look for resources and deal with stress. | |
| On-site health services | Health consultation clinic: On-site contractual occupational medicine doctors provide consultation services. |
| Health care | First-aid personnel should be allocated according to the total number of people in each store. The first-aid personnel must have the "Safety and Health Education and Training of First-Aid Personnel" certificate. |
| Safe Place Certification (AED + CPR): The labor safety and health unit regularly offers AED and CPR training courses. Dedicated AED personnel regularly check AED equipment. | |
| Epidemic prevention and control measures: For the peak period of infectious diseases every year, we conduct health management and tracking of employees and strengthen the sanitation of the department store to provide customers with a safe and comfortable shopping environment. | |
| Health promotion activities | Health requirements survey: The occupational safety and health personnel surveys, evaluates, formulates, and carries out appropriate occupational health activities and handles employee health management matters. |
| Carrying out health activities: Provide health promotion information (carry out health promotion activities such as fat-burning and muscle aerobics, yoga stretches, massages, 10,000-step walks, etc.) to create a healthy occupational atmosphere. | |
| Self-certification plan: Regularly offer the healthy workplace "health promotion badge" certification and reward the stores that meet the "health promotion badge" certification. |
Personal growth plan
SKM encourages employees to study and advance their work skills after hours. We provide employees with subsidies for language learning, computer training, driving lessons, advancement courses, and other educational expenses.
Leisure and travel
SKM expects employees to achieve a work-life balance, so we encourage employees to travel and relax. We provide domestic and foreign travel subsidies, including expenses for public transportation, gas for road trips, car rental, site attraction tickets, parking, etc..
Childcare/senior care allowance and child education subsidy
SKM values the family management of employees. We provide comprehensive family care and education allowances, including afterschool care fees and talent class tuition for pre-school children ages 0-6; tuition, counseling fees, talent class tuition, and after-school care fees for children in elementary school and above; nursing home fees and caregiver fees for the parents, grandparents, or great-grandparents of the employee and their spouse. We wish to reduce the burden of child and senior care so employees can work without worries.
Give vaccination leaves so employees can rest happily
As a member of the high-risk service sector with a high contact rate, SKM fully cooperates with the government's COVID-19 anti-pandemic promotion and encourages employees to be vaccinated. We provide a full vaccination subsidy and vaccine insurance for employees who receive two doses of vaccines within four months. In addition, two days of leave were given for both doses, one of which is a paid leave. The leaves do not affect the perfect attendance bonus and other bonuses, in hopes that employees to rest without worries.
Pension system
According to the "Labor Standards Act" and "Labor Pension Act," for employees eligible for the old pension benefits, the company allocates 2% of their salary to the retirement reserve fund, which is managed by the supervisory committee of the labor retirement reserve fund. The committee deposits the money into the account in its name. For employees eligible for the new pension allocation, the company contributes 6% of the monthly insured amount to the individual labor pension account of the Bureau of Labor Insurance every month. Also, the company appoints a consulting company to make the actuarial calculation of the old retirement reserve fund to ensure pension rights for all employees.