Compensation design

Outstanding talents are the key to success for an IC design company. Novatek regards professional expertise as the Company’s most important resource. Hence, we have always been committed to providing our employees with the most competitive compensation and benefits in order to attract and retain outstanding talents. Novatek has been included in the Taiwan HC 100 Index of constituent stocks published by the Taiwan Stock Exchange (TWSE). These constituent stocks take employee compensation as their main screening criteria. Weighting is determined by fundamental factors such as “total employee compensation”, “average employee salary growth rate” and “net profit”, allowing the index to maintain a balance between corporate social responsibility and investment efficiency.

 

Salary that outperforms the average in the peer groups

In 2023, TWSE announced the “2022 Average Salary and Median Salary of Non-Supervisor Full-Time Employees"; the average and median salary of Novatek was NT$ 3.959 million and NT$ 3.222 million, respectively, and the average monthly income was 8.4 times the basic salary in Taiwan. The overall salary of employees ranked first in the IC design industry.

Various employee benefits

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Maternal care and childcare measures

To provide employees with more support for childbearing and childcare, starting from 2022, Novatek has implemented "childcare allowance and work from home for parenting". If an employee has a child under the age of six, the Company will provide a subsidy of NT$ 5,000 per child per month. In addition, a flexible working system will be implemented, allowing parents to work from home for up to 15 days per year, giving both parents the opportunity to share the economic and child-rearing responsibilities.

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Quality breastfeeding room certificate

Novatek passed the certification of the breast-feeding room of the Hsinchu City Health Bureau in 2019 and obtained the "Excellence Label". The validity period is from August 2020 to August 2023.

7 days of flexible paid leave

Providing 7 days of flexible paid leave, which exceeds the requirements of the Labor Standards Act. Taking 2022 as an example, 2 days will be used to adjust the holidays for make-up days. Employees are not required to attend work and their salaries will be paid normally. The remaining 5 days will be used by employees to ask for leave according to their individual needs.

Highest Travel subsidies in the industry

Novatek and its Employee Welfare Committee provide significant travel subsidies for the employees every year. In 2022 each employee enjoyed a travel subsidy of NT$ 66,000. There were 2,790 employees (5,402 trips) who used the Company’s travel subsidies to undertake travel voluntarily (or with family members), accounting for 97.6% of the Company’s total employees. For those employees who are serving in the Company for their 10th and 20th year, additional travel subsidy of NT$ 100,000, and commemorative gold coin will be provided in that year. Furthermore, 5 days official leave is also provided for the senior employees to appreciate their dedication over the years and encouraging them to make travel arrangements.

Diverse social club activities

To improve the physical and mental health of employees, promote legitimate entertainment, enrich leisure activities, and enhance the friendship between employees, Novatek has formulated the “Social Club Organization Regulations” to encourage employees to establish social clubs voluntarily. There were 19 social clubs in 2022, with 483 employees participated in the club activities, accounting for 17.5% of the Company’s total employees. Novatek encourages its employees to actively participate in social clubs. Each club not only carries out regular weekly group training, but also actively organizes or participates in various external competitions. The Company offers unlimited “official leave” for employees to participate in competitions.fficial leave” for employees to participate in competitions.

Compensation and Benefits Spotlight
Compensation and Benefits Spotlight

Salary that outperforms the average in the peer groups

Novatek uses academic qualifications and job content as the criteria for determining starting salaries, and then approves salaries (fixed salaries) based on differences in individual experience. After completion of one full year of employment, salary adjustments are made based on market conditions, operating conditions of the Company, and individual work performance, without discrimination on gender or work location. In 2023, TWSE announced the “2022 Average Salary and Median Salary of Non-Supervisor Full-Time Employees"; the average and median salary of Novatek was NT$ 3.959 million and NT$ 3.222 million, respectively, and the average monthly income was 8.4 times the basic salary in Taiwan. The overall salary of employees ranked first in the IC design industry.