Labor-Management Relations and Communications


SinoPac Holdings encourages employees to communicate with the Company and established various internal communication and grievance channels while conducted employee engagement surveys regularly to understand their opinions and jointly improve the workplace.

● Collective Bargaining Agreements

In order to achieve smooth and effective communication between the Company and its employees, SinoPac Holdings and its subsidiaries established the SinoPac Holdings Labor Union, Bank SinoPac Labor Union, and SinoPac Securities Labor Union according to the Labor Union Act. Since 2011, SinoPac and labor unions renews the collective bargaining agreements every three years and communicate and negotiate with the unions on labor issues from time to time. Representatives of Bank SinoPac and SinoPac Securities renewed the collective bargaining agreements for the third time upon negotiations with the labor unions on April 24, 2018 and June 29, 2018 respectively. Representatives of SinoPac Holdings signed a collective bargaining agreement with the labor union for the first time on December 19, 2019, covering employees of SinoPac Holdings, Bank SinoPac, SinoPac Securities, SinoPac Futures, SinoPac Securities Investment Service, SinoPac Securities Venture Capital, SinoPac Venture Capital, SinoPac Leasing and SinoPac Securities Investment Trust.

Main Contents of the Collective Bargaining Agreements and Percentage of Employees' Participation in Unions

● Labor-Management Communication Achievements

According to the Labor Standards Act, Work Rules of SinoPac Holdings, and results of labor-management negotiations, if employees need to work overtime due to work requirements, the supervisors may, after obtaining the consent of the subordinates, allow employees to fill out "overtime work forms", sign them, and deliver them to employees to implement overtime work. Female employees may not work past 10 p.m. without the approval of the union. In addition, although labor unions of the subsidiaries agree that employees working hours may be extended on weekdays without the prior approval of the respective labor union, employees' attendance on holidays shall require the approval of the respective labor union. This measure is carried out to protect the rights of employees.
In response to the rise of new business models and increasingly complicated and diverse financial services, Bank SinoPac organized a labor management communication meeting in 2020 to explain the plans and adjustments for channel development in 2021. The Bank listened to the recommendations and feedback from employees' business operations, gradually optimized the system, and adjusted related measures. A link to the union website on the homepage of the internal website was set. In response to amendments of the "Labor Standards Act", related regulations and internal management, Bank SinoPac and the union reached a consensus on amendments of related wording in the "Work Rules" in the labor-management meeting.

● Employee Grievance Channels

SinoPac Holdings has interchangeably conducted the "Employee Engagement Survey" or " Organizational Climate Survey" every year since 2015 in order to listen to employees and adjust corresponding policy and the management system accordingly if needed so that the company can supply a friendly working environment for employees to create the long-term performance of the organization. In 2020, it expanded the scope of employee engagement survey from only SinoPac Holdings to SinoPac Holdings and its subsidiary and the result showed that the employee engagement rate was 88.4%. 

● Internal Communication Channels

Besides employee opinion surveys, SinoPac Holdings has also established multiple internal communication channels through which employees can voice their concerns in a timely manner and managers can have a deeper understanding of their thoughts. In doing so, SinoPac Holdings intensifies employee adhesiveness and stride hand in hand towards sustainable management. Internal communication channels comprise more than the existing Employee Service Specialist, SinoPac Academy Website, and iShare Website. SinoPac Newsletter, an internal publication and the seminar "Appointment with CEO" has been organized since 2019. "SinoPac Fun-Me" newsletters were first issued in 2020 while Bank SinoPac has also started the Voice of Employees (VOE) and Personeel Officers projects. Performance evaluation appeal channel is also provided for those employees who have objection to the result of assessment.