Innovation and Diversity
Women Empowerment is one of Cathay’s four focus areas for achieving sustainability. We strive to provide equal opportunity and to level the playing field to bring out the full potential of our female employees. During the 2018 cross-company corporate sustainability committee meeting, which was attended by an independent director, the president of each company, and numerous executive vice presidents, we invited Wei-Shien Chang, co-founder of Womany, to give a speech on Women Empowerment. During the event, numerous senior executives and the independent director responded to the UN's #HeForShe initiative, advocating that “Gender equality is not just a women's issue; it's a human rights issue that benefits us all”. Moreover, we decided to go beyond what the law requires by providing female employees with more paid miscarriage leave, and giving male employees more days of paternity leave in 2018.
At present, Cathay has 223 employees of indigenous descent. We offer “indigenous holiday leave” to employees of indigenous descent, who may choose to take one day off during an indigenous festival. For the disabled employees, our office buildings have barrier-free facilities to help them adjusting to the working environment. Moreover, CUB co-organized 22 recruitment orientations and group interviews for people with disabilities together with charity foundations and schools in 2018 and we hiring excessively disabled employees. Besides, Cathay encourages employees to participate in public welfare activities that serve new immigrants, indigenous peoples, and people with disabilities. We also advocate for diversity and inclusion through e-newsletters sent to employees for the establishment of equal and friendly workplace.
Southeast Asia Talent Program
Corresponding to Cathay’s expanding into other Asian markets, we aim to fulfill talent internationalization and help international talent assimilate into local society. We hope that this will expand our talent pool and assist the operation and development of overseas businesses. Cathay FHC offers employees the opportunity to rotate to overseas positions through the Group/Global Management Associate (GMA) Program. Efforts made by our two largest subsidies to recruit and develop Southeast Asian talent include the VMMA Vietnam Office Reserve Talent Program of Cathay Life and the Southeast Asia Financial Market Pilot Program of CUB. As of 2018, we have hired employees from a total of 14 different countries, and we will continue to implement the strategy of developing overseas markets using local talent with the goal of recruiting 85% of all overseas employees from local communities.
Cathay Life's VMMA Vietnam Office Reserve Talent Program and Vietnamese Actuarial MA Program
The VMMA Vietnam Office Reserve Talent Program recruits Vietnamese students who graduate in Taiwan, provides them with practical training in Taiwan and Vietnam, and hires them as sales supervisors in Vietnam. Through the training program, 12 graduates were selected to join the ranks of MAs; 3 have completed training and were appointed as sales supervisors in Vietnam as of the end of 2018.
The Vietnamese Actuarial MA Program was implemented in 2018 to help subsidiaries in Vietnam cultivate actuarial talent. Cathay Life recruited local students from Vietnam to study at Feng Chia University's Graduate Institute of Statistics and Actuarial Science, and also serve internships at the actuarial department of Cathay Life. Cathay Life also signed an MOU with Takming University of Science and Technology in 2018, and offered suggestions for courses and internship opportunities for students in the Vietnam program of the university's Department of Insurance & Financial Management with the aim to train more insurance professionals for the Vietnamese market.
CUB's Southeast Asia Financial Market Pilot Program
CUB is actively expanding its sources of overseas talent to meet the human resource demands of its branches in Southeast Asia and to develop overseas junior management talent. CUB thus implemented the Southeast Asia Financial Market Pilot Program to provide training to outstanding Southeast Asian financial experts who are familiar with local markets. The program makes CUB the first financial institution in Taiwan to coordinate with the government’s New Southbound Policy, integrating industry, government, and academic resources for the development of financial experts.
Through the program, students in Southeast Asia will be recruited to study in Taiwan. Solutions for pain points in the five aspects that students are most concerned about, specifically living, language, internship, further education, and employment have also been devised, including subsidizing tuition and miscellaneous fees, providing a living allowance, advanced placement language courses, internships in enterprises, and employment opportunities when students return to their native countries. Program participants will become seeds sowed by Cathay overseas and become a stable talent pool fueling the company's future development in Southeast Asia. In 2018, the program was recognized with the Best Talent Development Award of the Banking and Finance Best Practice Awards, which is known as the Oscars of the financial sector in Taiwan.