Cathay strictly abides by the local laws and regulations as well as local culture and customs of our business locations worldwide, and also comply with international conventions on human rights. We fully comply with our human rights policy and do not discriminate against race, class, language, ideology, religion, political party, nationality, place of birth, gender, sexual orientation, age, marital status, appearance, facial features, disabilities, or other factors. Furthermore, we are actively implementing various projects to achieve 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.

 

Creating a Workplace with Diversity and Inclusion

Cathay provides indigenous employees with indigenous holiday leave. Indigenous employees may choose to take leave during any day of their tribe's holiday. Cathay’s office buildings have barrier-free facilities to help employees with disabilities to adapt to the work environment. Finally, we encourage employees to participate in volunteer activities that serve new immigrants, indigenous people, and people with disabilities, and communicate ideas through e-newsletters or special topic lectures, in order to improve employees’ understanding and identification with a workplace culture of diversity and tolerance. 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.

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.

  

Gender Friendly

Cathay makes a commitment in its Human Rights Policy to not treat employees differently in promotions, salaries, and conduct due to gender or sexual orientation. We strive to provide equal opportunity and to level the playing field to bring out the full potential of our female employees. We provide many gender friendly measures that goes beyond the regulatory requirements to create a gender friendly workplace, and hope that all employees will make an active effort to achieve work-life balance without any constraints.

Cathay's Gender Friendly Measures that Goes beyond the Law

 

Comparison of Male and Female Managers' Annual Salaries (Male: Female)

Cathay encourages female executives to become role models and inspire female employees to utilize their abilities to become outstanding leaders. Accordingly, Cathay FHC's Chief Investment Officer Sophia Cheng was selected as one of Asia’s Top Sustainability.

Cathay FHC's Chief Investment Officer Sophia Cheng was selected as one of Asia’s Top Sustainability Superwomen.

 

Statistics of Female Managers

 


Milestones of External Recognition

Comprehensive Employee Benefits

Cathay FHC provides employee benefits in five aspects based on the concept of “Happy Tycoon”. Descriptions of important benefits and how to apply for them are available in a dedicated section of the employee website, so that employees can easily understand and enjoy the benefits.

Cathay Pregnancy Club

The Cathay Pregnancy Club has received good feedback. Besides giving gifts to pregnant employees, gifts for babies, and childbirth benefits, we also arranged a series of courses, family interactions, and professional consulting, and set up an exclusive website to provide employees with comprehensive care during pregnancy and after childbirth. Furthermore, Cathay not only provides male employees with 7 days of paternity leave, which is better than regulatory requirements, but also issued the Cathay Father-to-be Manual, encouraging couples to jointly take part in childcare. Fathers (-to-be) will be eligible for a gift if they complete designated childcare missions.

 

Long-term Incentives and Internal Job Rotation

All full-time office staff are reviewed annually for determining whether raises should be given; average raises over the last three years were about 3.32%. We encourage employees to have the Company's long-term interests in mind, and reward employees who have made contributions to the Company over a long period of time. In addition to the Guidelines on Incentives for Senior Employees, we issue service bonuses for senior employees and encourage employees to subscribe for shares during cash capital increase. We retained 10% of shares for employee subscription during each cash capital increase, including the issuance of preferred stock A for cash capital increase in 2016, issuance of preferred stock B for cash capital increase in 2018, and issuance of ordinary shares for cash capital increase in 2019. The number of shares subscribable is determined based on the employee’s position, performance over the last three years, and years of service.

 


Employee Engagement Survey

Cathay FHC conducts an Employee Engagement Survey every year, and formulates action plans based on data analysis and qualitative feedback and recommendations. Furthermore, we gain an in-depth understanding of employees’ needs through employee interviews and questionnaires, and hope to create a better work environment to improve employees’ experience. As such, we have achieved the goal of the three-year average engagement score reaching 4 points (5 points in total). Cathay's average engagement score of 4.17 points in 2017-2019 reached the goal we set.

 

Goal Achievement of Employee Engagement Survey

The 2019 survey covers Cathay FHC and all of its subsidiaries. The response rate reached 78% and overall employee satisfaction reached 4.14 points. Correlation analysis shows that work commitment had the highest correlation with employee’s overall satisfaction. Hence, action plans we formulated based on survey results include: hold supervisor communication meetings, conduct employee medical check-up surveys, and optimize the operating system, in order to raise employees’ work commitment. Furthermore, we plan to integrate gender analysis in 2020 employee experience survey to determine the cause of differences between genders, and then formulate action plans on this basis.


2019 Employee Engagement Survey Results

Employee Communication and Employee-employer Meetings

Cathay FHC has established a number of employee communication and reporting channels, including the employee forum, internal communication network, the chairperson's mailbox, reporting mailbox, newsletter for sharing business information, the Cathay Financial Monthly, and Cathay FHC town hall meetings, in order to protect employees' rights and interests, as well as facilitate labor-management communication. Furthermore, Cathay FHC and its subsidiaries implement employee-employer communication in accordance with the Guidelines for Implementing Employee-Employer Communication. Both sides elect representatives to report on, fully discuss, and propose resolutions to major employee-employer issues, which are carried out accordingly. A total of 28 employee-employer meetings were held in 2019.


We established the Safety and Health Work Guidelines, Occupational Safety and Health Management Plan, and Occupational Safety and Health Management Guidelines to ensure workplace safety and employee health. The implementation progress of related strategies and plans is reviewed at liaison meetings of the group-level Occupational Safety Task Force. In 2019, there were four meetings.

 

Responsible departments periodically give occupational accident statistical analysis reports at each subsidiary. If an employee undergoes surgery or becomes permanently disabled due to an occupational accident, medical personnel will follow up on the employee’s condition and evaluate if the employee is suitable for existing work. Lastly, we have an employee health risk management process in place to ensure the mental and physical health of our employees. The results of employee health exams are periodically analyzed and classified for health risk management. We compiled an employee health risk map on this basis. Accordingly, we implemented the Employee Assistance Program (EAP) and organized healthy promotion activities.


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