Talent Attraction and Retention
▌Our Commitments and Policies
The Company has set up specific departments and units to create various methods of recruitment to attract the talents that the Company requires. Additionally, the Company continuously monitors the compensation levels in the industry and develops a comprehensive salary policy that is both competitive and compliant with retirement benefit regulations. The Company also offers a range of benefits, implements different subsidy programs, and organizes annual health check-ups to establish a strong and supportive work environment that promotes sustainable development.
▌Our Goals
| Short-term | ◢ Establish diverse and innovative recruitment channels to attract talents. |
| Mid- and longterm | ◢ Consistently provide comprehensive performance-based rewards that are
competitive in the market.
◢ Create an environment that motivates employees to unlock their full potential. ◢ Continue caring for employees’ mental and physical health and providing a wholistic workplace. |
▌Achievements
| Competitive salary and benefits | ◢ In 2023, "the average cost of employee remuneration, average salary and "the median salary" of full-time nonmanagerial employees" for 2022 were reported to the Taiwan Stock Exchange. The amounts were 4.992 million, 4.867 million and 3.747 million, respectively. (in NTD.) |
| Talent recruitment, employment and retention | ◢ Application rate Note = 16 times
Percentage of recruits reporting to work Note = 85%
Retention rate = 92% new recruits retained for within 3 years; 98% new recruits
retained for within 2 years
Employee turnover rate = 6.3%, group-wide; 5% in Taiwan
[Note] Employment rate = Number of applicants/Number of employment [Note] On-boarding rate = Number of reporting to work/ number of issued Employment contracts |
| Fringe benefits for employees and dependents | ◢ Flexible fringe benefits: Rate of reimbursement application reached 97% in 2022.
◢ Medical check-up: In 2022, the application of medical checkup subsidy amounted to 94%. ◢ Corporate well-being events: In 2022, the headquarters in Taiwan and overseas sites had held 36 health promotion activities. The activities garnered 6,437 participants. |
▌Recruitment and Retention
MediaTek, a leading fabless semiconductor company, recognizes the significance of talents in driving sustainable growth and innovation. To attract key talents from various sectors such as industry, academia, and R&D institutions globally, MediaTek employs diverse recruitment and external communication strategies. Additionally, the company focuses on cultivating talents and staying updated with the latest trends by establishing a professional competence development mechanism. This proactive approach enables MediaTek to retain its valuable talents effectively.
In 2022, the Company had recruited 3,098 individuals globally, of which, 69% of them were under 30 years old. This led the Company maintain a relatively younger human resource structure, which is beneficial for promoting diversity and innovation aspect of the products. Also, in 2022, the turnover rate group-wide amounted to 6.3%, whilst in Taiwan, it amounted to 5.0%. Both of these rates were significantly lower than the average global turnover rate and average resignation rate of Taiwan high-tech industry of 12.9%, and 13.7% respectively
● Talent Hiring and Reporting to Work
In 2022, MediaTek recruited 3,302 individuals globally, receiving 49,896 resumes, which is estimated to be 16 times the number of new recruits. The Company's competitive package, diverse learning environment, and job scope attract outstanding talents globally, with approximately 85% of recruits reporting to work, demonstrating the Company's reputation as an attractive employer.
● Retention of New Recruits and Caring System
The Company has implemented a system to support new recruits in adjusting to their work and living environment. This system involves assigning senior employees as "buddies" to new recruits to provide timely assistance. Additionally, the Company conducts surveys on new recruits within 90 days of their start date to assess their adaptation progress. If necessary, professional counselors are available to provide support. In Taiwan, the fill-in rate for the survey was 99.9% in 2022. The Company has achieved a three-year retention rate of approximately 92% and a two-year retention rate of 98% for new recruits
▌Diverse Recruitment Channels
MediaTek has a comprehensive talent management system that guides its human resource planning. The company is committed to expanding its recruitment methods and has developed a user-friendly and thoughtful interface on its official website to increase the efficiency and convenience of the application process. In addition to this, MediaTek recruits talents through job banks, large-scale recruitment drives, and employee recommendations. The company also proactively collaborates with major universities and undertakes industry-academia cooperation, with an investment of NTD121.3 billion. In 2022, the company produced several recruitment video clips that reached millions of clicks, inviting employees to introduce IC design positions and internship programs.
For detailed measures and results, please refer to section 3.2.2 "Diverse Recruitment Channels" in MediaTek's 2022 ESG Report.
▌Compensation Competitiveness
MediaTek aims to attract exceptional global talent and retain existing employees by offering reasonable andcompetitive compensation. The company conducts annual evaluations of the local market's compensation levels to ensure the overall reward competitiveness. In Taiwan, MediaTek's average and median salaries for non-executive full-time employees in 2022 were among the leading group in the industry, as compared to the average employee salary expense and regulations set by the Taiwan Stock Exchange.
For detailed information, please refer to section 3.2.3 "Compensation Competitiveness" in MediaTek's 2022 ESG Report.
▌Retirement Planning
MediaTek has established retirement plans for its employees in compliance with the labor laws and regulations of the countries where it operates. In Taiwan, the company has established both a defined benefit plan and a defined contribution plan in accordance with the Labor Standards Act and the Labor Pension Act. As of 2022, the defined contribution plan was applicable to 99.2% of the employees, while the defined benefit plan was applicable to only 0.8% of the employees.The Company follows the Labor Standards Act to calculate the pension payment for employees based on their years of service and average salary for the six months prior to retirement.
The Company contributes 2% of the monthly salary to the Supervisory Committee of Labor Retirement Reserve account in Bank of Taiwan. Additionally, the Company pays no less than 6% of employees' salary to their individual accounts at Bureau of Labor Insurance every
month. In 2022, the pension funds of the defined contribution plan amounted to NTD2.481 billion. The Company not only appropriates the retirement reserve fund as per the law and regulations but also hires qualified actuaries each year to perform actuarial computation of the retirement reserve fund. This is done to make provisions and recognize pension liability, ensuring that employees' interests are protected in their pension withdrawal in the future. This approach encourages employees to plan for their long-term career and investment.
For more information, please refer to the Talent section of MediaTek's 2022 ESG Report.