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  • China Life has devoted to creating sense of belonging for employees. New and senior staff members are both regarded as part of the China Life family. Multiple benefits and diverse protection plans are provided to ensure sufficient care for each employee. The benefit items including paid leaves, volunteer leaves, education subsidies for employees’ children and health checkup services provided by China Life are more competitive than those required by relevant regulations.

    Employee compensation and benefits

    Benefits by Full-Time Office Staff for 2020
    Benefits Description
    Vacation and Leave New employees who sign full-time contracts with the Company receive annual leave as soon as they go on-board.
    Volunteer Leave To encourage employees to give back to society by joining public welfare activities, we offer one day volunteer leave/per employee each year.
    Employee Insurance We offer labor insurance, national health insurance, and group insurance (including life insurance, accident insurance, family/hospital medical insurance, and accident medical insurance).
    Employee Loans
    (Home and Scooter Purchases)
    Offer favorable employee interest rate discounts for housing and scooter loans.
    Employee Clubs We subsidize the establishment of staff clubs that enhance work-life balance.
    Holiday Bonuses and Year-End Party Aside from Dragon Boat Festival, Mid-Autumn Festival, and birthday benefits, we organize annual parties and lucky draws to celebrate the Lunar New Year.
    Scholarships for Employees’ Children To encourage our employees’ children to pursue academic excellence, we provide educational scholarships.
    Childbirth Subsidies In order to encourage employees to have children and promote employee benefits, the Company provides childbirth subsidy for each child.
    Health Examinations We offer comprehensive health examinations in looking after our employees’ physical health.
    Other Items We offer wedding and funeral gifts, hospitalization payments, and childcare incentives. To further help employees maintain a healthy mind and body we installed a coffee machine, sky garden, employee lounge, fitness room, and nursing room.

    Retirement Benefits

    China Life places great importance on the retirement life of our employees. We formulate worker retirement regulations and established the “Labor Retirement Reserve Supervisory Committee.” For employees using the old pension system, a certain percentage of their gross monthly salary is reserved as their retirement fund with the Bank of Taiwan. We evaluate whether the balance of this fund is sufficient to meet the retirement needs of employees who will retire the following year. If more funding is needed, the company will fill the gap into the fund by the end of the following March. For employees using the new pension system, 6% of their monthly salary is deposited into a retirement fund account at the Bureau of Labor Insurance. To show appreciation to our retired workers for their years of service, we have also provided a glass plaque and free health check to all retiring employees since 2018. In 2020, a total of seven employees used these benefits.

    Salary Structure

    China Life believes that developing a fair and competitive salary system is the key to attracting and retaining talents. To ensure that our bonuses and salaries are competitive, we adopted a performance-oriented pay policy for sales agents and office staff. The salaries we offer are higher than the minimum wage standards stipulated by the government. Key factors for determining salary include academic achievements, work experience, position, performance, without gender wage gap. We adhere to "equal pay for equal work value“ in realizing gender equality.

    Average Wages and Median Wages of Full-Time Non-managerial Employees and Comparison with the Previous Yea
    Item 2020 2019
    Total Wages of Full-Time Non-managerial Employees (NT$) 2,436,118,877 2,048,812,502
    Full-Time Non-managerial Employees (People) 2,225 2,077
    Average Wage of Full-Time Non-managerial Employees (NT$) 1,094,885 986,429
    Median Wage of Full-Time Non-managerial Employees (NT$) 933,990 833,572

    Note 1:Full-time employees are employees whose work hours meet the Company’s standards for regular full-time work or legal standards for full-time work (generally those employees who work an average of 35 hours or more per week). In accordance with regulations, employees who have worked and received wages for fewer than six months are not included in the calculation.

    Note 2:Average wages and total wages are affected by monthly changes in the number of employees receiving a wage. Therefore, the number of full-time employees is a weighted average, in accordance with relevant regulations.

    Unpaid Parental Leave

    Good family relationships are key to social stability. To help employees meet both their personal and family care needs, China Life provides full parental leave support by preserving parents’ right to return to work. In 2020, the Company had 25 office staff and 62 sales agents apply for unpaid parental leave. Among office staff, the return to work rate was 85.71% and the retention rate was 93.33%, and among sales agents the return to work rate was 83% and the retention rate was 94%. These numbers show how China Life promotes a work-life balance and empathizes with employees who need to care for their children.

    Open Communication Channels

    In order to promote positive interaction between labor and management, China Life convenes quarterly labor-management meetings to discuss key issues. The Company held four such meetings in 2020 to report on and discuss employee actions, business updates, and labor-related issues.

    China Life also established worker claims channels and publishes relevant information on the Company’s intranet. Confidentiality and appropriate procedures are carried out in accordance with standards set by the competent authority. Employees use the channels to report work-related problems they encounter to supervisors of any level or the HR department, who abide by confidentiality requirements.

    In 2020, employees did not make any such claims. After observing employees’ work habits, actions, and social trends, China Life combined technology with innovative thinking to launch two new internal communications channels: the China Life e-Family and i-Talk Line@ accounts.

    Occupational health and safety

    In order to strengthen workplace safety and health, the Company established the Occupational Safety and Health Committee, the Occupational Safety and Health Management Unit, and the Workplace Violence Prevention and Management Group. The units are convened by occupational safety and health affair managers, occupational safety and health management personnel, doctors, nurses, and emergency response personnel. These groups are responsible for identifying, planning, overseeing, executing, assessing, and improving all health and safety issues.

    Occupational Safety and Health Committee

    The Occupational Safety and Health Committee is a standing committee that includes one director and seven regular members, including four labor representatives who make up 50% of its members. In 2020, the committee convened twice to review safety and health policies then make recommendations and proposals. The Occupational Safety and Health Management Unit formulates, plans, oversees, and promotes safety and health management items while guiding relevant departments on implementation. In 2020, we also formulated the Occupational Safety and Health Management Plan to ensure proper implementation of employee safety and health measures.

    Occupational safety and environmental monitoring are vital to our business. In 2020, we regularly conducted workplace fire safety equipment inspections and repairs as well as building safety inspections and notification to appropriate authorities. We continued to implement automatic safety and health inspections of workplace facilities. Biannual environmental monitoring (for carbon dioxide concentration and workplace illumination) ensured that our workplace environment is favorable for business operations. Moreover, we made the necessary arrangements in preparation for earthquakes, fires, and emergency medical situations. Besides establishing an autonomous fire safety group in the workplace, we participated in joint fire safety lectures and emergency evacuation drills run by building management to raise our emergency response capabilities. At the Company’s Dunbei Building headquarters, we established a joint defense team that can provide disaster prevention and rescue during normal times and offer extensive support when disasters do occur.

    2020 Occupational Safety Performance
    Item Male Female Total
    Injury Rate 0.00051% 0.00085% 0.00137%
    Absence Rate 0.05212% 0.31314% 0.36526%
    Lost Day Rate 0.00145% 0.00419% 0.00564%

    Note 1:2020 In 2020, China Life had zero incidents regarding occupational death, serious injury, or serious disease among employees or non-employee personnel.

    Note 2: In 2020, the primary cause of work-related injury was traffic accidents occurring on the way to/from work or during work-related trips

    Note 3: Injury Rate = Total number of accidents/(total number of work days * total number of people) * 100%

    Note 4:Absence rate = (Work injury leave + sick leave + menstruation leave)/(total number of work days * total number of people) * 100%

    Note 5:Lost day rate = Work injury leave/(total number of work days * total number of people) * 100%

     

    On-Site Healthcare

    As part of our effort to provide a comfortable, safe and healthy working environment, free blood pressure monitoring devices are available at the Company’s major service counters across Taiwan. AED equipment is available at Company headquarters and the customer service centers in Taoyuan-Hsinchu, Taichung, Chiayi, Tainan, and Kaohsiung, and each location continues to undergo AED safe location certification. In 2020, the Company had a total of 144 staff members who underwent external training and obtained certificates. These certified staff members are spread across our various offices. We even have first aid drugs and medical devices stored at each of our workplaces.

    Furthermore, we employ seven nurses who offer health advice, workplace illness and injury prevention information, first aid, and emergency responses. They provide additional information on communicable disease prevention and health maintenance using the Company’s internal mail network. In 2020, we continued to contract certified doctors from Chang Gung Memorial Hospital Linkou Branch, Tungs’ Taichung Metro Harbor Hospital, Tainan Municipal Hospital, and Chang Gung Memorial Hospital Kaohsiung Branch to offer health services on a quarterly basis at our offices with over 300 personnel in Taipei, Taichung, Tainan, and Kaohsiung (over 26 walk-in clinics).

    Indoor Air Quality Management

    With office staff spending between 80% and 90% of their time indoors, indoor air quality has a direct impact on work quality and efficiency. Even though the insurance industry has yet to be enforced to comply with the “Indoor Air Quality Management Act,” for three consecutive years, China Life has designated 10 personnel to attend external training and acquire certifications for indoor air quality management in efforts to minimize air pollution impact on the health of our employees. Our certified personnel are responsible for assessments and actions needed to effectively manage our indoor air quality, so staff can work in a healthy environment.