Here at Cathay, we value and cherish the unique value in each of our employees. We also firmly believe the foundation of our competitiveness lies within the differences between each individual employee. Cathay FHC compiled the "Cathay FHC Human Rights Policy" according to the UN's "International Covenant on Civil and Political Rights" and relevant initiatives to ensure that no individual is treated differently or discriminated against based on gender, sexual orientation, race, socioeconomic status, age, marriage and family status, language, religion, political affiliation, nationality, appearance, physical and mental disability, or other reasons. Cathay also recognizes the importance of genderfriendly mechanisms and has adopted measures and management mechanisms in excess of regulatory requirements to create a gender-friendly workplace.
Employee Composition and Diversity
Cathay FHC had 46,091 full-time employees and 369 part-time employees in 2022. Part-time employees account for 0.80% of all employees. We prioritize recruitment of local workforce and aim to recruit 85% local hires. A majority of our business locations are currently in Taiwan, where the local hiring rate is approximately 99%. We abide by labor regulations and have never engaged in child labor. Recruitment of foreign nationals complies with the Employment Service Act and Regulations on the Permission and Administration of the Employment of Foreign Workers. For the number of employees by region, gender, and age, please refer to Table 12 in the Appendix. In 2022, Cathay FHC, CUB, Cathay Century, Cathay Securities, Cathay SITE, and Cathay Futures had 36 non-binary employees who disclosed their sexual preferences voluntarily.
Cathay also supports indigenous peoples and persons with disabilities, as well as their right to employment, and continues to provide employment opportunities through multiple channels. Indigenous employees enjoy "indigenous holiday leave" which provides them with one additional day of leave in accordance with special holidays for the tribe to which they belong. Cathay also provides accessible facilities in the workplace, and promotes workplace tolerance and inclusivity of diverse cultures through newsletters, seminars, and other events. For the number and percentage of indigenous and disabled employees, please refer to Table 13-1 in the Appendix. Lastly, Cathay is also concerned with the diversity of our employees and aims to hire locals at our global locations. Our employees come from a total of 13 countries spanning Mainland China, South East Asia, North America, and Europe. For the actual number and percentage of foreign employees, please refer to the attachment, Employee Nationality and Distribution_Workforce Breakdown, listed below.
Employee Nationality and Distribution_Workforce Breakdown
Statistics of D&I Workplace
Southeast Asian Talent Development
Cathay is implementing various projects for talent internationalization and diversification. We are expanding into other countries, but also look forward to talent from different countries to become a part of Cathay, in order to achieve the goal of becoming the leading financial institution in the Asia Pacific. Cathay FHC's GMA (Global/Group Management Associate) project provides overseas job rotation opportunities. Among our two largest subsidiaries, Cathay Life implemented the VMMA Vietnam Office Reserve Talent Program and Vietnamese Actuarial MA Program, and CUB implemented the Southeast Asia Financial Market Pilot Program.
Building an Inclusive Workplace
Cathay's sustainability strategy blueprint focuses on diversity and inclusion, and deems a "workplace of diversity, equity & inclusion" as an important goal, so that diverse talents can unleash their potential and enhance our competitiveness. To support employee development at Cathay, we established the "Scrum Team," a diversity inclusion project. Through agile work methods, we conduct preliminary exploration and research for the project and consider internal and external trends and strategies from various angles. In the future, we shall continue with this framework and work with subsidiaries to meet demands and optimize the system. Through creating "a culture of diversity and tolerance," "a co-learning group for female empowerment," and "a flexibility program for employees to slow down but stay on board," Cathay constructs a diverse and inclusive workplace environment and atmosphere.
•Action Plan 1. Creating a Culture of Diversity and Tolerance
Cathay has a diverse workforce, so we continue to eliminate inequality through unconscious
biases to construct a culture of diversity and tolerance. Cathay supports a workplace of equality and inclusion. To prevent workplace discrimination
and harassment, we instituted the "Regulations for Establishing Measures of Prevention,
Correction, Complaint and Punishment of Sexual Harassment at Workplace" and set up a
dedicated sexual harassment mailbox and the Sexual Harassment Grievance and Investigation Committee to investigate reported instances of sexual harassment. If the report is deemed to be true, the accused will be subjected to disciplinary actions in accordance with company regulations, whilst the victim will receive all necessary care such as psychological counseling. Other colleagues will be asked to bolster their education and training on sexual harassment to prevent such incidents from occurring in the future. In 2022, Cathay handled 7 incidents of sexual harassment or gender equality violation, 2 of which were dismissed due to lack of evidence, and the remainder handled accordingly. Cathay FHC has been included within the 2023 Bloomberg Gender-Equality Index once again, earning near-perfect ratings in terms of equal pay & gender pay parity, inclusive culture, and anti-sexual harassment policies. We are especially supportive of gender pay parity, and we ensure equal remuneration standards for both genders in compliance with labor regulations. We believe in equal pay for equal work and strive to bridge the salary gap between men and women. For statistics on the number of women in management positions, as well as the gender pay gap, please refer to Table 16 and Table 17 in the Appendix.Cathay FHC values gender equality, and in terms of promotions, the Percentage of women total promotions in 2022 is 69%.
•Action Plan 2. Co-Learning Group for Female Empowerment
Cathay FHC values female empowerment in the workplace. Cathay is dedicated to cultivating female STEM talents by offering diverse educational resources, forging connections with external networks, and sponsoring the Society of Taiwan Women in Science and Technology (TWiST). For the ratio of women in STEM positions at Cathay, please refer to Table 16 in the Appendix.Percentage of women IT is 32% and percentage of women Engineering is 44%. In the future, Cathay will invite female role models to speak at internal seminars and share their career experiences, as well as their feminine resilience. We hope that this will help women in the workplace furnish bo th external network resources and connections.
•Action Plan 3. "Slow Down but Stay on Board" Family Support Measures
Cathay FHC has set up a "Slow Down but Stay on Board" task force to help employees come up with flexible work arrangements and support solutions to take care of their families. We hope that this means our employees can enjoy long-term career development and balance work and family obligations. For statistics on parental leave and family care, please refer to Tables 20 and 21 in the Appendix.