Gemtek prioritizes employee welfare by providing favorable work entitlements, such as comprehensive bonus programs, a structured leave system, and access to recreational facilities. The company also organizes regular events and holiday gift activities.
In August 2023, the Taiwan headquarters issued "New Restricted Employee Shares" as part of a long-term incentive reward program. Eligibility for receiving these shares is based on factors such as seniority, job grade, work performance, etc. Employees must meet the Company’s performance goals and achieve favorable business outcomes to qualify for the shares. This initiative aims to promote mutual growth and prosperity between the company and its employees.
Employee Compensation
Gemtek is dedicated to implementing equal pay. All our manufacturing plants offer base salaries that exceed the statutory minimum wage in their respective regions, with no gender-based differences in pay for 2023.
2023 Comparison of Gemtek’s Base Salary
Gemtek Headquarters | Gemtek Kunshan | Gemtek Changshu | Gemtek Vietnam | |
---|---|---|---|---|
Direct Personnel | 1.1 | 1.1 | N/A | 1.1 |
Indirect Personnel | 1.6 | 1.8 | N/A | 2.1 |
2023 Gemtek’s Gender Wage Gap by Job Level
Job Level /Item/Region /Gender |
Gemtek Headquarters | Gemtek Kunshan | Gemtek Changshu | Gemtek Vietnam | |||||
---|---|---|---|---|---|---|---|---|---|
Female | Male | Female | Male | Female | Male | Female | Male | ||
Managerial |
Base Salary% | 1 | 1.28 | 1 | 1.09 | 1 | N/A | 1 | 1.25 |
Annual Compensation % | 1 | 1.42 | 1 | 1.23 | 1 | N/A | 1 | 1.26 | |
Non-managerial |
Base Salary% | 1 | 1.36 | 1 | 1.03 | 1 | N/A | 1 | 1.08 |
Annual Compensation % | 1 | 1.38 | 1 | 0.93 | 1 | N/A | 1 | 1.00 |
Parental Leave
Gemtek grants employees the legal right to apply for unpaid parental leave. Employees are entitled to two years of statutory parental leave until their youngest child reaches the age of three. The company conducts follow-up calls to confirm the employees' intention to return and to assist with their reinstatement. Both male and female employees are eligible to apply for this leave.
Number of Parental Leaves at Gemtek Headquarters in Recent Years
Year / Gender / Toal | 2021 | 2022 | 2023 | ||||||
---|---|---|---|---|---|---|---|---|---|
Male | Female | Total | Male | Female | Total | Male | Female | Total | |
Total number of employees eligible for parental leave A | 58 | 43 | 101 | 49 | 38 | 87 | 43 | 53 | 96 |
Actual number of parental leave applications submitted for the current year B | 1 | 9 | 10 | 2 | 6 | 8 | 1 | 14 | 15 |
Total number of employees to be reinstated after parental leave for the current year C | 2 | 3 | 5 | 3 | 7 | 10 | 0 | 9 | 9 |
Actual number of employees reinstated after parental leave for the current year D | 2 | 3 | 5 | 1 | 5 | 6 | 0 | 8 | 8 |
Actual number of employees reinstated after parental leave for the previous year E | 0 | 4 | 4 | 2 | 3 | 5 | 1 | 5 | 6 |
Number of employees who stayed on the job for more than a year after reinstatement for the previous year F | 0 | 2 | 2 | 2 | 1 | 3 | 1 | 5 | 6 |
Reinstatement for the current year % (D/C) | 100% | 100% | 100% | 33% | 71% | 60% | N/A | 89% | 89% |
Stay on job for the current year % (F/E) | N/A | 50% | 50% | 100% | 33% | 60% | 100% | 100% | 100% |
Parental Leave Benefit at Gemtek
Region | Parental Leave Benefit |
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Gemtek Headquarters |
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Mainland China |
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Gemtek Vietnam |
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Employee Insurance and Retirement Policies
Region | Description |
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Gemtek Headquarters |
In compliance with regulatory requirements, Gemtek employees are provided with labor insurance coverage, including benefits for injuries, sickness, disability, maternity, and survivorship, as well as national health insurance coverage, effective immediately upon onboarding. As per the Labor Standards Act, Article 55 Pension Payment Standard and Article 56 Labor Retirement Reserve, the Company either deposits 6% (under the new system) or 2% (under the old system) of the employee’s monthly salary, depending on whichever is applicable, into the employee’s labor pension reserve account at the Bank of Taiwan. And by the Labor Pension Act, after excluding student participants and foreign employees, the proportion of regular employees participating in the retirement plan is 100%, of which 3 employees are categorized under the old system. In addition to the legally required pension reserves, the Company also engages professional actuarial consultants to conduct annual pension fund valuations. Currently, the reserve amount stands at approximately 88 million, with sufficient allocations to ensure that employees' future pension claims ar e safeguarded. This ensur es that employees' retirement benefits are well-protected and their r etirement life is pr operly cared for.
Both regular and contract employees are entitled to group insurance plans (life insurance, accident insurance, hospitalization insurance, and cancer insurance) from the first day of employment, providing extra protection for employees and their families. Considering the increasing risk of cancer among the population, the Company also offers an optional "Critical Illness Insurance Policy" that employees can choose t o add (with 50% subsidiz ed by the Company), allowing employees to secure more extensive coverage and c are at a r educed premium rate. |
Gemtek Mainland China | All employees are required to contribute to the five insurance programs, which include: endowment, medical, unemployment, work injury, and maternity insurance. Male employees are eligible for retirement at the age of 60, while female employees can retire at the age of 50. They are entitled to a retirement pension under the social security system, equivalent to the full amount of their contributions to the five insurance programs. The Company contributes 16% of the endowment insurance, while employees contribute 8%. For medical insurance, the Company contributes 6%, while emplo yees contribute 2%. Full-time employees have a 100% p articipation rate in the r etirement pension plan. |
Gemtek Vietnam | In accordance with the Vietnam Social Insurance Law, Gemtek Vietnam is obligated to cover a portion of the social insurance for its employees. This includes 17.5% for social insurance, 3% for medical insurance, and 1% for unemployment insurance. Employees who have contributed to the social insurance for more than 20 years and are over 55 years and four months old can receive a lifelong retirement pension after retirement. For foreign executives, as per the Vietnam Social Insurance Law, a lump-sum retirement allowance can be claimed upon resignation. Full-time employees have a 100% p articipation rate in the r etirement pension plan. |
Note: The Mainland factories include Gemtek (Kunshan) and Gemtek (Changshu).