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Talent Recruitment and Employment
SKFH is proactively recruiting young generations to join in the team of digital transformation. In addition to our demands for the talents with a financial industry background, we also extended our recruitment to a diverse range of talents from digital information, digital marketing, digital products R&D, actuarial statistics, underwriting and claim settlement, financial engineering, and customer group analysis for them to join in our big family. In 2022, we recruited 925 office staff in total (including 12 foreigner employees), among which, female accounted for 52%, and managers accounted for 7.6%, with an average recruitment cost per person of about NT$18,330.
New Full-time Employees in 2022
| Category | Male | Female | Management level | Nationality | Workplace | Total | ||||||||||
| < 30 | 30 - 50 | > 50 | Subtotal | < 30 | 30 - 50 | > 50 | Subtotal | Junior | Middle | Senior | Taiwanese | Foreign national | Taiwan | Overseas | ||
| Number of new employees | 164 | 245 | 41 | 450 | 214 | 242 | 31 | 487 | 42 | 17 | 12 | 925 | 12 | 925 | 12 | 937 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| % of all new full-time employees | 17.5 | 26.1 | 4.4 | 48.0 | 22.8 | 25.8 | 3.3 | 52.0 | 4.5 | 1.8 | 1.3 | 98.7 | 1.3 | 98.7 | 1.3 | 100 |
| % of all full-time employees |
1.1 | 1.6 | 0.3 | 2.9 | 1.4 | 1.6 | 0.2 | 3.1 | 0.3 | 0.1 | 0.1 | 6.0 | 0.1 | 6.0 | 0.1 | 6.1 |
- Note 1: Due to the different nature of sales business, the above table does not include insurance agents.
- Note 2: If considering the personnel in Note 1, the total number of new employees is 2,548, and the ratio of new employees is 16.5%.
- Note 3: The number of new employees is based on the number of new full-time employees of SKFH and its subsidiaries in service at the end of 2022.
- Note 4: % of all full-time employees = the number of new employees in 2022 / the total number of full-time employees of SKFH and its subsidiaries.
Average Hiring Cost in the Past Four Years
| 2019 | 2020 | 2021 | 2022 | |
| Average hiring cost | NT$22,983 | NT$16,420 | NT$17,910 | NT$18,330 |
Talent Retention and Turnover Rate
In addition to recruiting outstanding talents actively, SKFH also pays attention to talent retention. We Reasonable Remuneration provide fair and competitive remuneration and benefits, implement performance management system, and formulate long-term incentive measures and reward plans to improve employee’s engagement and cohesion. Our goal is to maintain over 90% of retention rate of key talents by 2025, and we actually achieved 94.4% in 2022. In terms of the turn over rate, it was 11.6% in 2022
Total turnover rate
Voluntary turnover rate
Resigned Full-time Employees and Turnover Rate in 2022
| Category | Resigned Male | Resigned Female | Resigned Management | Nationality | Workplace | Disabilities | |||||||||
| <30 | 30-50 | >50 | <30 | 30-50 | >50 | Junior level | Middle level | Senior level | Turnover rate | Taiwanese | Foreign national | Taiwan | Overseas | ||
| Total | 123 | 255 | 86 | 148 | 273 | 101 | 14 | 28 | 55 | 1.1% | 975 | 11 | 975 | 11 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
- Note1: Due to the different nature of sales business, the above table does not include insurance agents.
- Note2: Total departures are defined as employees who left the organization voluntarily or due to dismissal, retirement, illness, or death in the line of duty, excluding secondments.
- Note3: Turnover Rate= Number of full-time employees left SKFH and its subsidiaries/total number of full-time employees of SKFH and its subsidiaries.
- Note4:Turnover Rate of Management= Number of management left SKFH and its subsidiaries/total number of full-time employees of SKFH and its subsidiaries.
- Note5: The foreign national resigned employee is the overseas employee of SKB.
Performance Management System
SKFH formulated the "Regulations Governing Performance Management and Development" to set goals, conduct performance reviews and performance evaluation every year. Performance management is not only aimed at checking that whether employees have achieved the goals set at the beginning, but the way they achieved the goals, so we include function evaluation in the performance evaluation to measure the behaviors of employees at work. And, in order to implement the policy of different rewards and remuneration for different talents, and to strive to maximize the benefits to be brought by administration of the company's overall human resources and development of resources utilization, we, after collecting performance evaluation results, displayed the annual performance of the employees at various "job levels" and ranked their contributions to the organization, and took annual performance evaluation results as the important basis for determination of key talents, adjustment to remuneration, distribution of performance awards and other HR-related decisions. In 2022, except for the persons taking extended leave, all employees of SKFH have accepted the performance reviews, with the view to continuously improve employees’ individual performance at work and the company’s overall business performance, so as to assist the employees and the company to grow together.
| Type of Performance Evaluation | Applicability | Frequency | Content | Results |
| The Balanced Score Card, BSC | Senior executives | Monthly | Conduct reviews and assessments based on key performance indicators of each subsidiary, which include both financial and non-financial aspects | Serve as the basis for determining performance rankings, salary adjustments, and the distribution of performance bonuses (including long-term incentives) at the end of the year |
| Management by Objective, MBO | Department supervisors and below(exclude sales personnel) | The beginning, middle, and end of each year | The annual performance evaluation results serve as important criteria in human resource decision-making for talent identification, salary adjustments, and the distribution of performance bonuses | If an employee's performance consistently falls below expectations, the supervisor may implement a Performance Improvement Plan (PIP), and collaboratively establish a short-term goal improvement plan with the employee and actively support the employee in making improvements |
| Multidimensional performance appraisal | Life insurance office supervisors | Ongoing | Evaluation includes aspects such as supervisor, subordinate, peer, and self-assessment to evaluate employee performance and leadership potential | Serve as a reference for employees' improvement direction and career development |
| Team-based performance appraisal | Securities business departments | End of every year | According to the "Assessment Management Regulations" of subsidiary MLS, the departments that are linked to the company's management performance will be evaluated on both individual performance and departmental operational performance, which include indicators such as profitability, business capability, and management capability | At the end of each year, the President reviews the department's performance for the year and approves the "Department Assessment Level Result Sheet," which will serve as one of the bases for bonus distribution |
| Agile conversation | Life insurance sales personnel | Ongoing (Every two to three months) | In order to achieve annual business goals, performance evaluations based on performance targets are conducted every 2-3 months for sales personnel in the business units. Daily morning meetings are held to share product updates, sales techniques, and professional knowledge. Supervisors also provide feedback to individual employees based on their specific circumstances to enhance their business capabilities | If an sales personnel fails to meet the performance targets, their job position will be downgraded to the corresponding target level; if they fail to meet the minimum performance target for their job level, their employment will be terminated |
- Note: The Company's executives' compensation also aligns with performance, which includes financial and relative financial metrics. For the compensation structure of executives, please see here.
Long-term Incentive Measures
In order to motivate employees and improve their cohesion, we have formulated a plan of cash capital increase for acquisition by employees to allow participating employees to share the company's operating performance results. And, we incorporate sustainable performance indicators in the company's operating KPIs and track them regularly. We hope to improve the performance of corporate governance, talent retention, environmental management, and social participation, through the process of motivating employees to achieve KPIs, to further improve the evaluation on the company by external stakeholders. In addition, we kept provide employee stock ownership trust in 2022, in order to improve employees’ benefits and corporate sustainable business, help employees to save and accumulate wealth to ensure a stable life, and keep employee’s cohesion to improve comprehensive operating efficiency and enhance shareholder’s rights and interests. The company encourages employees to invest fixed amount in the company's stocks on a regular basis for long term, through 100% relative allocation, to share operating results and value growth.
Employee Engagement Survey
To fully understand each employee's views on the company and work-related matters, SKFH commissioned third party to conduct employee engagement survey since 2016 to understand employees’ recognition of the company and their suggestions. The survey was conducted anonymously, in order to improve employee’s willingness to complete the survey and ensure that employees can express their opinions faithfully. We complete the engagement survey of all employees every two years. 2021-2022, we completed an engagement survey of all employees at SKFH and its subsidiaries, the response rate of the survey during the period is 95%, and the overall engagement is 73%. And meetings were held subsequently to develop improvement plans for the management team to use as the basis for continuous improvement and to maintain the sense of cohesion and recognition among employees for the company.
Note: Engagement Survey is five-point scale, answering “agree” and “tend to agree” are defined as positive review. The score of engagement is equal to the percentage of positive review.
| Company | Overall Engagement | Gender | Age | Level of Management | |||||
| Male | Female | <30 | 30-50 | >50 | Jumior-level | Mid-level | Senior-level | ||
| Employee Engagement | 73% | 75% | 71% | 69% | 71% | 78% | 77% | 75% | 79% |
|---|---|---|---|---|---|---|---|---|---|
| Category | Question of the survey |
| Job satisfaction | I would recommend this organization as a good place to work. My Job brings me sense of achievement. |
| Purpose | I work beyond what is required to help this organization succeed. |
| Happiness | I am able to sustain the level of energy I need throughout the work day |
| Stress | There are no substantial obstacles at work to doing my job well. |
| Resources | I have the equipment/ tools/ resources I need to do my job effectively. |