Key Issues: Employee Rights and Beneits, Employee Ethics/Integrity, Fair and Reasonable Pay, Labor-Management Relations, Talent Development and Cultivation Stakeholders: Regulatory Agencies, Employees, Unions, the Public
Fubon Financial Holdings does not discriminate on the basis of gender, age, ethnicity, religion or political beliefs. Any individual with the requisite ability and qualiications has an equal opportunity at being hired. We also show concern for the disadvantaged, having hired more people with disabilities than legally required in recent years. Employees’ legal rights are protected, and employment policies are non-discriminatory.
The Company’s talent development program relies on a learning platform tailored to business, functional and career development needs that offers employees diverse learning opportunities and resources.
Beyond specialized inancial training programs, Fubon Financial Holdings also offers continuing education subsidies to encourage employees to develop themselves further and stimulate learning and personal growth.
Employees are given the chance to gain experience in different types of jobs.
Internal “Regulations on Rotating and Transferring Personnel” encourage employees to use the inancial holding company platform to enhance their competitiveness.
The Company offers competitive compensation and beneits and has created a fair performance-based management system. Outstanding employees are rewarded and given opportunities for promotion to broaden their career horizons.
Fubon Financial Holdings has a well-rounded beneits system and puts a premium on fostering a healthy and friendly workplace. Several activities promoting a healthy workplace are organized to create different types of exercise experiences and truly care for the well-being of Fubon employees.
The Company fully respects employee rights and has established open channels of communication. An independent director’s mailbox and an employee grievance mailbox have been set up on Fubon’s internal and external websites to enable stakeholders and employees to report abuses and lodge complaints. (The employee “mailbox” includes a related telephone hotline and fax line and a dedicated employee grievance section.) “Town Hall”
meetings with Fubon’s chairman and vice chairman are held to strengthen employee identiication with Fubon and build consensus within the organization.
In 2015, Taipei Fubon Bank and Fubon Securities signed collective bargaining agreements with their unions, showing their commitment to their employees.
The deals represented a new milestone for labor-management relations and workers’ rights. The same year, an organization-wide employee engagement survey was conducted for the irst time to gather employee feedback and understand employees’ views on the Company’s strategic directions, core values and operations.
To encourage employees to volunteer and satisfy their pursuit of self-actualization, Fubon arranges volunteer service courses and has laid down “Guidelines on Implementing Volunteer Leave” to institute paid volunteerism. Social welfare activities, such as the “Fubon Social Welfare Ambassador” program, the
“Fubon Love · Action Fast Campaign” and Fubon Volunteers events, promote healthy attitudes toward social participation.
An App Fubon HR+ has been developed to create a 24/7 internal communication platform. Employees can stay on top of the latest news and activities, apply for leave, arrange a massage and check the latest partner merchant promotions no matter where they are at any time. The app can also be used to browse recommended articles or study a foreign language, making it an ideal mobile-age communication and learning vehicle.
Fubon’s art foundation helps employees develop an appreciation for art and aesthetics and supports art and cultural and creative businesses. It holds arts tours, concerts and seminars for Fubon employees during working hours in northern, central and southern Taiwan to foster an environment conducive to a healthier work-life balance.
In a “Fubon EDU” program developed with Fubon’s Cultural & Educational Foundation, people can plant crops, talk with farmers, watch educational videos and pick up knowledge (on such topics as food safety and green living). The program showcases Fubon’s concern for the environment and gives employees the chance to contribute to environmental protection.
Social Commitment
Employee Care a foreign national, the hiring is handled based ontwo statutes: the “Employment Services Act” and the “Regulations on the Permission and Administration of the Employment of Foreign
Workers.” Fubon also complies with Republic of China statutes and International Labor Organization directives that strictly prohibit all forms of forced labor, and we have never forced
or coerced individuals to perform tasks they were unwilling to do.
Fubon Financial Holdings has always supported human rights and respected the legal rights
As of the end of 2015
Fubon Financial
Holdings Taipei Fubon Bank Fubon Life (Ofice Staff)
Fubon Life
(Outside Agents) Fubon Insurance Fubon Securities Total
Taiwan 45 2,424 963 7,694 1,371 772 13,269
102 4,261 2,244 11,880 1,169 1,360 21,016
Overseas 0 42 8 0 41 2 93
0 12 12 0 6 0 30
Total 147 6,739 3,227 19,574 2,587 2,134 34,408
Note: The Taiwan workforce shown in this chart includes three foreign nationals.
Work Location
2015 Fubon Financial Holdings Taipei Fubon Bank Fubon Life (Ofice Staff) Fubon Insurance Fubon Securities Total
Taiwan
Under 30 2 206 41 103 40 392
30-49 5 303 67 45 64 484
50 and Over 2 16 4 0 5 27
Under 30 2 295 97 118 36 548
30-49 16 465 120 51 57 709
50 and Over 0 27 1 2 5 35
Overseas
Under 30 0 0 0 0 0 0
30-49 0 2 0 1 0 3
50 and Over 0 0 1 0 0 1
Under 30 0 0 0 0 0 0
30-49 0 0 5 0 0 5
50 and Over 0 0 0 0 0 0
Total New Employees in 2015 27 1,314 336 320 207 2,204
Total Employees at the End of 2015 147 6,739 3,227 2,587 2,134 14,834
New Employees as % of Total
Employees at End of 2015 18.37 19.50 10.41 12.37 9.70 14.86
Note: Fubon Life’s outside sales agents were not included in these igures because of the special nature of their jobs.
New Employees in 2015
2015 Fubon Financial Holdings Taipei Fubon Bank Fubon Life (Ofice Staff) Fubon Insurance Fubon Securities Total
Taiwan
Under 30 0 46 4 16 6 72
30-49 0 53 9 4 8 74
50 and Over 0 2 0 0 2 4
Under 30 1 60 13 19 7 100
30-49 1 71 11 6 4 93
50 and Over 0 7 0 0 1 8
Overseas
Under 30 0 0 0 0 0 0
30-49 0 0 0 0 0 0
50 and Over 0 0 0 0 0 0
Under 30 0 0 0 0 0 0
30-49 0 0 0 0 0 0
50 and Over 0 0 0 0 0 0
Number of New Employees Who
Left the Company (A) 2 239 37 45 28 351
Total Number of New Employees
in 2015 (B) 27 1,314 336 320 207 2,204
New Employee Turnover Rate
in 2015 (A/B) 7.41 18.19 11.01 14.06 13.53 15.93
Notes: 1. Fubon Life’s outside sales agents were not included in these igures because of the special nature of their jobs.
2.The average turnover rate for new employees across the organization was 15.93%, down from 18.93% in 2014. By type of job, new salespeople had the highest turnover rate at 52.41%. They quit mainly because they were not up to their jobs, had trouble getting acclimated to the workplace environment or were not interested in the inancial sector. The Company has taken steps to deal with the situation by strengthening the professional skills and product knowledge of its salespeople. It is also working more closely with universities to better align what students study with job requirements and to gain more recognition for the Fubon name among college students.
New Employee Attrition and Turnover Rate
As of the end of 2015 Fubon Financial Holdings
Taipei Fubon Bank
Fubon Life (Ofice Staff)
Fubon Insurance
Fubon
Securities Total
No. of People with Disabilities Employed 2 88 278 37 29 434
Legally Mandated No. of Employees with Disabilities 1 68 226 20 21 336
No. of Employees with Disabilities Beyond Legal Requirement 1 20 52 17 8 98
Note: The number of employees with disabilities is based on a weighted calculation (any individual certiied as having “moderate” disabilities counts as two people employed).
No. of People with Disabilities Employed as of the End of 2015
2015 Fubon Financial
Holdings
Taipei Fubon Bank
Fubon Life (Ofice Staff)
Fubon Life (Outside Agents)
Fubon Insurance
Fubon
Securities Total
Managers/Supervisors
Under 30 0 0 0 692 0 0 692
30-49 11 202 103 1,311 164 74 1,865
50 and Over 8 89 88 369 138 54 746
Total 19 291 191 2,372 302 128 3,303
Under 30 0 0 0 447 0 0 447
30-49 10 232 178 1,960 46 42 2,468
50 and Over 11 65 36 1,004 11 14 1,141
Total 21 297 214 3,411 57 56 4,056
Employee Type/Age/Gender Distribution
Note: The managers and supervisors counted in the above chart are section managers and above.
2015 Fubon Financial
Holdings
Taipei Fubon
Bank Fubon Life
(Ofice Staff) Fubon Life (Outside Agents)
Fubon Insurance
Fubon
Securities Total
Business, General Administration and Other
Under 30 1 338 97 2,849 205 59 3,549
30-49 22 1,551 603 1,998 778 454 5,416
50 and Over 3 286 80 475 117 133 1,094
Total 26 2,175 780 5,322 1,110 646 10,059
Under 30 6 715 216 2,299 277 76 3,589
30-49 72 3,063 1,738 4,654 789 922 11,238
50 and Over 3 198 88 1,516 52 306 2,163
Total 81 3,976 2,042 8,469 1,118 1,304 16,990
2015 Fubon Financial
Holdings
Taipei Fubon Bank
Fubon Life (Ofice Staff)
Fubon Insurance
Fubon
Securities Total
No. of Employees In Taiwan Who Left
Under 30 0 118 12 42 18 190
30-49 2 265 61 50 39 417
50 and Over 1 29 7 20 13 70
Under 30 3 176 30 40 18 267
30-49 5 355 92 54 55 561
50 and Over 0 26 8 10 12 56
No. of Overseas Employees Who Left
Under 30 0 0 0 0 0 0
30-49 0 3 0 0 0 3
50 and Over 0 1 0 1 0 2
Under 30 0 0 0 0 0 0
30-49 0 2 0 0 0 2
50 and Over 0 0 0 0 0 0
Total No. of People Who Left 11 975 210 217 155 1,568
Total No. of Employees at end of 2015 147 6,739 3,227 2,587 2,134 14,834
2015 Turnover Rate (%) 7.48 14.47 6.51 8.39 7.26 10.57
Employee Turnover Rate
Social Commitment
Employee Care created to further enhance functional developmentand expose managers to the latest management techniques and knowledge through experiential learning, role playing, interactive video classes and other methods that make the process more effective. A total of 80 management classes attended by 3,764 people were held in 2015, and the average satisfaction level was 4.50 on a scale of 5. Based on observations and feedback from these managerial-level courses, Fubon has improved the learning experience with hands-on and digital methods to cater to the developmental needs of employees at different stages of their careers.
Management trainees are an important part of Fubon’s talent cultivation process. Senior executives select individuals with development potential who, after passing an evaluation, enter the Fubon talent pool and eventually emerge as the top choices for future promotion. The program incorporates such themes as management thinking, problem solving, and quality management. A total of 473 management trainees were certiied as qualiied from 2009 to 2015, and more than 40% of them have already been promoted to managerial positions.
Fubon Financial Holdings also continues to cultivate managers with an international perspective. Every year, it recommends outstanding employees to take one-year advanced management courses at MIT’s Sloan School of Management. During their year abroad, participants not only continue to collect their salary, but their tuition and miscellaneous expenses are fully paid for by the Company and they also receive a living and transportation allowance. Expectations are that this exposure to highly talented people from different countries and industries will stimulate new ways of thinking that can be injected into the organization and used to enhance business development and the cultivation of talent.
The Company continues to nurture a strong pool of inancial experts and management talent through its management associate program. The two-year talent development system imparts a broad array of professional knowledge and skills, and it quickly familiarizes candidates with different types of inancial services and operating procedures. Each individual’s core competitiveness is reinforced with hands-on participation, and overseas learning opportunities are arranged to get them up to speed on international practices.
The program also features a mentoring mechanism that gives the associates the chance to learn up
close how top executives think and strategize and to build contacts, accelerating their development into inancial managers. From 2005 to 2015, the management associate program admitted 180 people, and more than 60% were retained, with several of them having already been promoted to managerial positions. This approach should continue to generate a deep pool of talent for the future.