Remuneration Payment Policy
The remuneration policy of the Company is applied with all employees to ensure that the Company can attract, develop the potential, and retain its employees who have high performance, and the Company has a working incentive in the competitive market. The employees shall be offered for the appropriate remuneration in accordance with the market guideline as the core remuneration mix. The acquired result is the employee’s working morale for creating the sustainable outcome and continuous growth of the Company. Remuneration Mix
During the performance evaluation of each employee, the superior shall evaluate the employee’s performance in previous year and set the new target. An increase in the employee’s salary is decided by referring to the following evaluation result.
Remuneration mix consists of:
- Annual performance-based bonus;
- Fringe benefits;
- Compensation in case of dismissal (in accordance with the Labor Protection Act)
It is determined by referring to role and position of each employee, including professional experience, responsibility, job complexity, and market situation in the country. Annual performance-based bonus:
It is the motivation and reward provided to an employee whose work achieves a setting target. The evaluation is classified into KPI (Key Performance Indicator) Evaluation for the employees and PMS (Performance Management System) Evaluation for the employees in the supervisory level and higher, subject to the Company’s target, the division’s target, and personal target.
An evaluation of the Company’s overall operation that reflects the performance of division and of each employee, is referred in annual performance-based bonus. For instance, PMS includes the following matters.
- Work Process
- Individual Efficiency
In addition, both monetary and non-monetary factors used in consideration of annual bonus of each person include working under the guideline and internal process of the Company, employee capacity and competency, employee achievement, working dedication, and others. Fringe benefits:
The regulations of the Company and employment contract of each employee, market practice of the country, and/or role and position of the employee, are referred. Compensation in case of dismissal:
It shall be paid in accordance with the Labor Protection Act.