CDF adheres to the goal of becoming the employer of choice. We value and actively recruit talent, striving to create a diverse and inclusive workplace where individuals of different nationalities, ethnicities, social classes, genders, ages, and the disabled can all unleash their potential at CDF. We are headquartered in Taiwan with overseas operations across Greater China, Southeast Asia, and North America. As end of 2023, we have circa 25,000 people in our workforce, covering Taiwan and overseas, employees and non-employee workers, full-time, part-time and non-guaranteed-hour workers.
Driven by the vision of becoming a leading financial enterprise in Asia, we recruit professionals of different nationalities, ethnicities, and backgrounds at our domestic and overseas operations. We emphasize diversity in our talent pool to strengthen our competitive advantage. By the end of 2023, our employee nationalities span across 20 countries, and circa 90% of top-level management positions are filled by local residents. Additionally, we actively support the employment rights of individuals with disabilities and indigenous people, and hired a total of 164 employees with this background.
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Fair Treatment
CDF is committed to treating employees of different genders fairly, whether in recruitment, compensation and benefits, or talent development and promotion, with the goal of achieving gender equality. By the end of 2023, female employees represent 60% of total employee population, female managers account for nearly 50% of the management team, and female managers in sales functions make up 44%. The proportion of female employees in roles related to science, technology, engineering, and mathematics (STEM) is 43%. Through continuous efforts, most of the female indicators for 2023 have already met the 2027 targets.
CDF is committed to building a work environment of diversity, inclusion and equity. In 2023, we participated in the Bloomberg Gender Equality Index (GEI) for the first time. The GEI evaluates companies based on 70 indicators across five key dimensions related to diversity and gender equality policies. These dimensions include leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand. Participation in the Bloomberg Gender Equality Index demonstrates our determination to build a workplace that is diverse, inclusive, and equitable, as we strive toward our goal of becoming the employer of choice for talent sustainability.
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Human Rights
CDF adheres to the beliefs and values of human rights and complies with international human rights conventions, including the Universal Declaration of Human Rights, the Ten Principles of the UN Global Compact, the United Nations Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, and the International Labor Office Tripartite Declaration of Principles, etc., and observes the relevant laws and regulations for the protection of human rights in the locations where CDF operates. In 2023, the Board of Directors approved the upgrading of CDF Human Rights Commitment to the level of CDF Human Rights Policy, showing our commitment to human rights. The Policy covers the following human rights commitments: no discrimination, no bullying, no harassment; no forced labor; freedom of association and labor-management communication; workplace safety and health; work-life balance; information security and privacy protection.
In addition, a “Letter of Undertaking regarding Sustainability for Suppliers” is in place, and we also have a “CDF Sustainable Financial Commitment” for business partners. We require our suppliers and new business partners to adhere to the same standards and emphasize human rights risk management.
CDF aligns human rights issues with the commitment items outlined in the Human Rights Policy. Assessment is conducted every year covering all employees (including interns) to monitor the execution of human rights related issues and the associated risks to prevent any violations of human rights. Refer to the table below for detailed processes and the 2023 assessment results.
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CDF Learning & Development Academy
Talent development is the key to becoming the employer of choice. In 2023, the Company launched the “CDF Competency Framework” based on the four corporate values. The framework applies to all companies and positions within the Group. Each competency is further expanded to key actions for managers and team members, serving as the indicators and basis for the observation of competencies. The competency framework further applies to the selection, development, utilization, and retention of talents. Competency-based Interview was introduced to enhance the effectiveness of selection; learning and development infrastructure was revamped to tie in with corporate values and the competency framework, hence CDF Learning & Development Academy was established with coverage of 4 major learning programs (generic fundamentals, functional, competency-based, and leadership) and 4 major developments (employee, manager, talent, and successor).
Four Major Learning Programs
- The leadership program focuses on the development of managers at all levels – new managers, junior managers, mid-level managers, and senior managers. The program is based on manager’s developmental progress and needs at different stages of the development process, helping managers strengthen their leadership skills in a gradual manner.
- The competency-based program is developed according to CDF competency framework. The program includes a variety of courses such as communication and negotiation, project management, data capability, agile transformation, and problem analysis, etc. Colleagues and managers can choose the most suitable resources for individual development based on personal situation, strengths, development needs, and career direction.
- The functional program refers to professional curriculum based on job requirements, including training to meet internal and external regulations and licensing requirements, as well as important courses such as compliance, information security, integrity management, human rights policy and friendly workplace.
- The generic fundamentals program covers courses such as newcomer training and performance management.
Four Major Developments
- For employee development, we provide a variety of learning resources, performance management measures, two-way career talks, and an internal transfer system to cultivate employees' abilities and encourage them to proactively grasp development opportunities.
- For manager development, we offer progressive training starting with new managers, provide specialized leadership development resources, and conduct regular evaluations.
- For talent development, every year we conduct strategic talent review to select employees with high potential, and provide focused development resources. Management trainees are included in the regular review of the talent pool.
- For successor development, we regularly conduct succession inventory review for senior positions and continue to cultivate future senior leaders of the organization.
In 2023, CDF was honored with the “Talent Development Leadership Award”, an external recognition for the Company’s efforts in developing talent.
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Performance and Individual Development
The Company has established a “Guidelines for Employee Performance Management” with coverage of 100% regular employees excluding new employees hired in Q4. This serves as basis for employee development. The annual performance management cycle includes the following key components:
- Performance Management : goal setting, mid-year agile management / performance and development review, year-end evaluation and performance communication
- Team Evaluation
- Multi-dimensional Evaluation
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Internal Transfer and Promotion
To promote internal talent mobility and encourage diverse career development, we regularly review the internal talent pool. Additionally, every month, we issue internal announcements about job opportunities within the group, encouraging employees to stay informed about the latest job openings and proactively apply for job transfers. This includes opportunities for cross-departmental, cross-company, and international transfers. In 2023, a total of 377 employees applied for internal job openings and successfully transferred to new roles.
In addition to applying for internal job openings, the Company has established an internal transfer guideline, promotion criteria, as well as training and development plans. Under the principle of fair treatment, we provide employees with opportunities for internal growth within the group, aiming for sustainable talent development. In 2023, a total of 2,141 employees underwent internal transfers or promotions, accounting for 23% of the entire workforce. If adding the 377 employees who successfully transferred as the result of applying for internal openings, the overall transfer and promotion rate will increase to 27%.
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The Company’s compensation and bonuses are performance-oriented, taking market competitiveness into account. It links business results with individual performance, creating a win-win situation for employees, the Company, and shareholders. All employees’ salary conditions adhere to local labor laws, and initial salaries are determined based on their professional abilities and job roles. We follow equal employment regulations and provide competitive compensation, and we continue to be one of the constituents of the ‘High Salary 100 Index’ at Taiwan Stock Exchange.
The employee compensation structure includes base salary, allowances, and variable bonuses. Annual performance bonuses are distributed based on overall business performance and individual performance. The goal is to optimize resource allocation, ensuring that high-performing or exceptionally contributing employees receive corresponding rewards. This approach reflects the company’s profitability and strongly links individual performance with compensation. According to the employee survey results, majority of employees agree that they and their colleagues receive appropriate rewards for their contributions.
The Company participates in annual market compensation survey. Employee salaries are adjusted according to market salary levels, economic trends, and individual performance. Through a fair and comprehensive promotion mechanism, we promote outstanding talent, granting higher positions and better compensation.
We continue to review non-management employees’ salary, salary compensation to market, annual total compensation comparison, and the female and male salary comparison to ensure the rationality, fairness, and market competitiveness of our compensation.
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Benefits
Employee welling is an important source of employees’ happiness. All full-time employees of the Company are eligible to the following welfare measures.
- Flexible Working Program (Flexible working schedule also applies to some company’s dispatched staff.)
- Maternal and Childcare
- Group Insurance
- Staff Canteen
- Physical Health
- Mental Health (EAP service is also applicable to all non-employee workers)
- Financial Health
- Volunteer Leave
- Birthday Leave
CDF has long been committed to enhancing employee wellbeing and creating a high-quality workplace environment. Our efforts have been well recognized in 2023, i.e. both CDF and KGI Life Insurance received the “Gold Award for Happy Enterprise” organized by 1111 Job Bank., and KGI Securities was honored the “Silver Award for Happy Enterprise.” These achievements demonstrate CDF’s dedication to becoming an “employer of choice”.
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Retirement Plan
The Company's retirement policy has been established in accordance with the Labor Standards Act, which requires that the Company make monthly pension contributions into employees' personal accounts held under the Labor Pension Supervisory Committee. The Labor Pension Act went into effect beginning July 1, 2005 and prescribes the following rules:
A. Employees who have completed 10 or more years of service and are at least 55 years old
B. Employees who have completed 25 or more years of service.
(4)The calculation and payment of pension under Labor Standards Act (the old scheme):
A. Two bases are given for each full year of service rendered for the first 15 years. For the rest of the years over 15 years, one base is given for each full year of service rendered. The total number of bases shall be no more than 45. The length of service is calculated as half year when it is less than six months and as one year when it is more than six months.
B. As set forth in subparagraph 2 of paragraph 1 of article 5 of the Retirement Regulations, an additional 20% on top of the retirement amount shall be given to employees forced to retire due to disability incurred from the execution of their duties.
C. The pension shall be paid within 30 days from the day of retirement.
Employee engagement is a critical indicator to measure employee retention. Since 2020, CDF has conducted an annual group-wide employee opinion survey. The survey targets employees who have served for at least three months. By conducting regular surveys, CDF gains insights into employees’ perspectives across various aspects of the organization. Our engagement score rose by 20% in 4 years’ time which is attributed to the vast efforts invested to support our aspiration of becoming the employer of choice.
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