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SUSTAINABILITY
The company's governance and operational management policies are not only focused on achieving budget and operational results but are also closely integrated with management indicators to fulfill the mission of corporate social responsibility. Beyond achieving profitability, it is crucial to create a friendly workplace environment.
To adequately care for employees, ensure their living conditions, provide excellent working conditions, and meet their needs, we not only provide basic protection in accordance with the law but also establish a friendly workplace environment and organize various employee welfare activities and subsidies.
Our company's year-end bonus system is based on the status of the company's after-tax earnings per share. It considers financial indicators (revenue achievement rate, gross profit achievement rate, operating profit achievement rate, and after-tax net profit achievement rate), non-financial indicators (compliance with laws, major deficiencies in operational risks, and special contributions), and individual employee performance. This bonus is distributed to all colleagues to encourage everyone to strive towards the company's goals. For several consecutive years, the after-tax earnings per share have been above NT$5. The company also shares its profits through employee compensation, bonuses, year-end bonuses, and salary adjustments as a way to give back to all employees.
Employee remuneration is regulated by Article 24 of the company's articles of association. According to this regulation, the company allocates employee and director remuneration from the pre-tax profits after compensating for any losses. If there is any remaining balance, a minimum of 2% must be allocated for employee remuneration. This remuneration can be provided in the form of stock or cash, and the recipients can include employees of subsidiary companies who meet certain conditions.
1. Compliance with Labor Standards Act: Implement various regulations to protect employee rights.
2. Employee Welfare Committee: Organize annual travel activities, family day events, and provide birthday gifts for employees.
3. Education Subsidies: Provide scholarships for employees pursuing further education.
4. Educational Scholarships for Employees' Children: Offer financial support for the education of employees' children.
5. Bonus System: Include employee bonuses, project bonuses, and special contribution bonuses.
6. Stock Purchase Opportunities: Offer employees the chance to purchase company stocks.
7. Employee Cafeteria: Provide dining facilities for employees.
8. Partner Stores: Collaborate with stores to offer discounts to employees.
9. Employee Uniforms: Provide uniforms for employees.
10. Health Check-ups: Conduct regular health examinations.
11. Comprehensive Training: Offer thorough educational and training programs.
12. Insurance: Enroll employees in labor insurance, health insurance, and group insurance as required by law.
13. Year-End or Spring Banquets: Host annual year-end parties or spring banquets.
14. Event Allowances: Provide subsidies for employee weddings, funerals, and other significant events.
15. Gender Pay Equality: Ensure no wage disparity between genders.
16. Emergency Assistance: Offer aid for employees in urgent or difficult situations.
17. Employee Parking: Provide dedicated parking spaces for employees.
18. Nursing Room: Create a friendly workplace by setting up a nursing room.
1. Defined Benefit Retirement Plan: In accordance with the "Labor Standards Act," the company has established a defined benefit retirement plan. This plan applies to the service years of all official employees before the implementation of the "Labor Pension Act" on July 1, 2005, and to the subsequent service years of employees who chose to continue applying the Labor Standards Act after the implementation of the "Labor Pension Act." Employees who meet retirement conditions receive retirement payments based on their years of service and the average salary of the six months prior to retirement. For service years within 15 years (inclusive), two units are awarded for each full year of service. For service years exceeding 15 years, one unit is awarded for each full year, with a maximum accumulation of 45 units. The company contributes 2% of the total monthly salary to the retirement fund, which is deposited in a dedicated account under the name of the Labor Retirement Reserve Supervisory Committee at the Taiwan Bank Trust Department.
2. Manager Retirement Plan: The company has established a retirement plan for managers, contributing 4% of their total monthly salary to the retirement reserve. For the fiscal years 2023 and 2022, the net retirement cost recognized under this retirement plan was NT$31,000.
3. Defined Contribution Retirement Plan: Effective July 1, 2005, the company implemented a defined contribution retirement plan according to the "Labor Pension Act," applicable to Taiwanese employees. For employees who choose the retirement system under the "Labor Pension Act," the company contributes 6% of their monthly salary to the employees' individual accounts at the Bureau of Labor Insurance. Retirement payments are made based on the balance and accumulated earnings in the employees' individual retirement accounts, either as monthly retirement payments or as a lump-sum payment. For the fiscal years 2023 and 2022, the company recognized retirement costs of NT$2,059,000 and NT$2,180,000, respectively, under this retirement plan.
As a manufacturing plant that prioritizes quality, we employ the following strategies to ensure high standards: (1) Conduct quality tracking in weekly meetings with executives. (2) Hold monthly meetings to review and discuss quality issues. (3) Organize irregular quality meetings as needed. (4) Conduct mid-year and year-end strategy workshops for all employees, including direct production staff, to build consensus. Through a comprehensive process of education, review, and re-education, we maintain a high level of quality, ensuring that customers can purchase our products with confidence and assurance.
The key difference between a group and a team is that a group is merely a collection of individuals, whereas a team is a unified body of individuals with aligned hearts and minds. We foster unity among employees through leadership and communication based on shared values and ideals, rather than authoritarianism.
At HYC, we place great emphasis on creating a learning environment, developing a friendly culture, and participating in social welfare. The primary focus is on transforming human resources to establish a learning organization, motivate employees, and facilitate rapid learning to adapt to the fast-changing market. As a traditional industry, we have evolved over decades from a small and medium-sized enterprise, seeking market niches and continuously learning and growing. This approach has enabled us to become a high-value, highly profitable "technology star company" within the traditional industry, serving as a model for Taiwanese SMEs. We aim to replicate this success in new business divisions.
Our company is committed to providing a dignified and safe work environment for employees. We ensure diversity in employment, fair remuneration, and promotion opportunities, protecting employees from discrimination, harassment, or unfair treatment based on race, gender, religion, age, political beliefs, or any other status protected by applicable laws.
1. Equal Compensation: We have established a "Compensation Committee" to provide employees with competitive salaries through transparent and equitable compensation policies. Bonuses are distributed based on company performance. Entry-level employees in the same position receive equal treatment, and compensation for those with relevant expertise and experience is determined based on qualifications, skills, and certifications without gender or ethnic differences. The principle is internal fairness and external competitiveness.
2. Gender-Friendly Environment Initiatives:
(1) Childcare-Friendly Measures:
- Partner with daycare centers to offer exclusive discounts for employees' children.
- Provide scholarships for employees' children, up to NT$20,000 per semester for higher education.
- Set up nursing rooms.
- Provide designated parking spaces for women and children.
(2) Workplace Health Promotion:
- Offer health check-ups exceeding legal requirements, organize smoking cessation classes, health consultations, and seminars to promote workplace health.
- Implement an "Employee Assistance Program" offering comprehensive physical and mental health support and psychological consultation services.
- Employ company doctors and nurses to regularly monitor and assist with employees' health.
- Received the Health Promotion Certification from the Ministry of Health and Welfare.
(3) Other Workplace-Friendly Measures:
- Organize several family day events and employee travel subsidies annually.
- Participate in "Family and Business Alliance Program" for work-life balance.
- Implement employee stock options for outstanding employees, with trading allowed in 2026 to retain top talent and share operational success.
3. Respect for Individual Differences: Provide a professional and dignified workplace ensuring employees are free from discrimination or harassment:
(1) Zero tolerance for discriminatory behavior based on gender, sexual orientation, gender identity, gender expression, or gender characteristics.
(2) Equal pay for equal work.
(3) Recruitment and promotions are based on merit, regardless of gender.
(4) Set up a sexual harassment hotline.
(5) Create a friendly work environment considering gender needs, allowing family caregivers to transfer to non-shift units.
(6) Support the employment of married women or those re-entering the workforce.
4. Implementation of Government Gender Equality Policies, actively support diverse gender identities beyond just complying with laws and non-discrimination:
(1) No discrimination during recruitment based on diverse gender identities.
(2) Equal treatment at work.
(3) Respect for employees'gender choices.
(4) Respect for gender privacy and inclusion.
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In 2021, to help "Nantou City residents/Caotun Township residents/Mingjian Township residents" who faced hardships during COVID-19, our company, upon approval by the board of directors, allocated funds to provide immediate care and emergency assistance to those in need.
From 2005 to 2023, our company has been providing long-term support to 10 underprivileged families by covering school fees for their children. We also regularly organize seminars and gatherings to monitor and support the children’s living and learning conditions.
1. Sponsorship of Xin Feng Elementary School Baseball Team (2011-2023): Annually sponsor approximately NT$60,000 for uniforms and equipment for the Xin Feng Elementary School baseball team in Nantou County. This support enables underprivileged students to stay at school for training and completing their homework after school. It helps them develop good character, cultivate an interest in sports, strengthen their physical health, and boost their confidence and future competitiveness. Additionally, scholarships are awarded to players when they win competitions.
2. Sponsorship of Nantou County Police Friendship Association (1991-2023): Provide long-term financial support to the Nantou County Police Friendship Association.
3. Sponsorship of Nantou County Volunteer Police and Fire Brigade (1991-2024): Offer continuous financial support to the Nantou County Volunteer Fire Brigade.
4. Sponsorship of Family Support Center Winter Charity Carnival (2000-2024): Annually donate NT$30,000 to sponsor the Winter Charity Carnival organized by the Family Support Center, helping many struggling families face the challenges of winter. This support has been uninterrupted, earning us the "National Model for Child Welfare" honor in 2020.
5. Sponsorship of Nantou Lantern Festival: Sponsor the Nantou Lantern Festival to promote tourism and prosperity in Nantou.
6. Sponsorship of Military Support Activities (2022): Sponsor the Military Friends Association, providing subsidies for Spring Festival military visits, condolence payments for air accidents (Air Force in Chiayi), and joint military training accidents (Army in Pingtung), as well as additional funds for Military Day celebrations.
7. Promoting Green Technology and Circular Economy: Host visits from social groups to promote the concepts of greening and green energy technology in a circular economy.
8. Lectures at Chaoyang University of Technology (2008-2023): Provide lectures at Chaoyang University of Technology to educate students about company operations.
9. Donation for Military Condolences (2023): Donate funds as emergency condolence payments to the families of deceased military personnel (Navy submarine officers in Kaohsiung).
In response to the 2011 Great East Japan Earthquake, HYC donated a generator capable of supplying emergency power to a hospital. The Human Resources Department coordinated with the Japan-Taiwan Exchange Association, becoming the first entity approved by the Japanese government to deliver relief supplies into Japan.
In the spirit of "businesses should give back to society", we actively engage in practical industry-academia exchanges. By offering company tours and practical experience, we fulfill our social responsibility to assist in education. We have long-term partnerships with Hsiuping University of Science and Technology and Nan Kai University of Technology, providing internships for students in mechanical-related departments. In 2021, we hosted 4 interns, and in 2022, we hosted 3 interns.
1. Provide a Safe and Healthy Work Environment: Ensure that all employees work in conditions that prioritize their safety and health.
2. Eliminate Unlawful Discrimination: Guarantee equal employment opportunities by preventing any form of illegal discrimination.
3. Prohibit Child Labor: Enforce strict measures to prevent the employment of child labor.
4. Prohibit Forced Labor: Ensure that all employment is voluntary and free from coercion.
5. Support Employee Well-being: Help employees maintain their physical and mental health, and achieve a balance between work and personal life.
6. Support Legal Labor Rights: Uphold and support employees in exercising their labor rights according to the law.
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