Talent Development
Talent Recruitment and Retention
Talent Recruitment
Employees have always been the company's most valued and prized assets and are also the strongest support in promoting engineering services of CTCI internationally. With the culture of "Professionalism, Integrity, Teamwork and Innovation", CTCI is committed to providing talents with a friendly and healthy workplace where they can learn, grow, and build their dream career. CTCI has no gender bias in talent selection process. Academic capability, collaborative attitude, and suitability of the working culture are the three essential focuses in our recruitment procedure. With CTCI's growth in business, global talents have been recruited through diverse channels such as collaborations with industries and academia, overseas recruitment and recruitment websites (LinkedIn, etc.). In 2023, there were 857 new recruits, which accounted for 24.89 % of CTCI's total number of employees. Among the new employees, 51.93% were under the age of 30. CTCI has recruited a total of 2,262 new talents in the past four years and have been continuously contributing to the innovation and vitality of the Company.
The overall turnover rate in 2023 is 6.62 %. As the number of voluntary resignations decreased compared with the previous year and the total number of employees increased, the turnover rate also dropped significantly from the previous year's 9.75%. Among the employees who resigned, the engineer grade had the highest turnover rate. Meanwhile, it was found that 11.44 % of newly recruited employees in 2023 applied for a resignation within a year of employment. The resignation of contract and temporary employees was due to the manpower required according to the progress of the project, Manpower required for such operation process of the engineering services was unstable and unpredictable. For full-time employees, the human resources unit would look deeper into the reasons for their resignation by carrying out a resignation analysis report, conducting a survey on employee resignation, and face-to-face communications. In summary, it has been found that remuneration and benefits, career development, and job content are the main reasons for employees' resignation. In order to retain outstanding talents, in addition to the the four-year retention measure, we have further planned a restricted stock program, hoping to retain more talents, and through differentiated management and promotion measures, allow outstanding talents to learn quickly, pay differentially, rotation experience, domestic EMBA and foreign further study topics, etc. implement comprehensive training and talent retention measures. The performance appraisal system is divided into A (Potential correlated with annual salary adjustment) and B (Performance Evaluation correlated with year-end performance bonus), which can further distinguish the performance of colleagues. For the top 5 % employees, the salary of outstanding employees of each operating unit will be adjusted significantly in addition to the existing salary adjustments and bonuses. A "horizontal" evaluation meeting hosted by the chairman will also be held to discuss promotion, salary adjustment, and career planning for colleagues with outstanding performance of each operating unit, increase the centripetal force of outstanding colleagues and drive positive competition and influence among peers.
Employee Distribution
In regards to the industry demographics of engineering, the employees of CTCI are male-dominated. In 2023, the total number of employees were 3,444 people (excluding other related companies in the group), of which 2,458 were males and 986 were females. The ratio of female to male employees was 1: 2.49. The majority of the age group ranged from 30 to 50. More than half of the total employees (50.46 %) have worked at CTCI for more than five years. This is beneficial for the inheritance and expansion of engineering technology and business. In terms of their educational level, about half of the employees (42.86 %) have a Master's degree or above. Clearly, CTCI prioritizes employees' ability in being professional and knowledgeable in the industrial field, their ability to gradually inherit and pass on the industrial experience, and their ability to strive for sustainable development in the engineering industry. As our engineering projects spread all over the world, CTCI strives to create a diverse and inclusive workplace atmosphere. By hiring employees of different genders, religions, races, nationalities, ages and ethnic minorities, we bring diverse perspectives to the organization. Inclusive organization becomes a boost to support CTCI's continuous growth. at important global locations (Beijing, Shanghai, Vietnam, Thailand, India, and the United States) and project locations (such as Oman, Saudi Arabia, Malaysia, Singapore, the Philippines, and the United States), we also recruit local professionals to display our tolerance and commitment in management as demonstrated in multiculturalism and ethnicity. In 2023, In addition to our own nationalities, CTCI has employees from 12 different countries, which demonstrates that CTCI values talent, respects diversity, demonstrates tolerance, and co-creates a shared international outlook. Given that CTCI’s clients are spread across the globe, each of our overseas branches employs over 90% local staff. Furthermore, we are progressively cultivating local talent for key positions and aiming to nurture local senior management. This approach not only promotes local economic development and job creation but also plays a crucial role in expanding our overseas business and global footprint. As CTCI is operating mainly based in Taiwan, 96.88% of the high-ranking supervisors are Taiwan residents to demonstrate our strong presence in the domestic market and promote local economy. CTCI recruited 19 indigenous people and 37 people with disability in 2023. Among them, 54.05% of the colleagues with disability are entry-level employees or mid-level managers.
Salaries and Benefits
The internal evaluation is conducted through assessment of job competency and positions, while the external evaluation is conducted through surveys of general wages in the current occupational market. A salary review and adjustment will be made through an assessment including job competency and performance of each employee. There is no gender distinction in salaries. Upon promotion, employees are immediately subject to a new salary level based on the new qualification and salary scale. In 2023, the minimum starting salary of male employees will be 1.09 times the basic salary, and the minimum starting salary of female employees will be 1.04 times the basic salary. Annual salary reviews and adjustments are conducted based on market salary surveys, individual competencies, and performance evaluations. CTCI's compensation structure consists of a fixed salary and a variable component. While the fixed salary is benchmarked against market rates, the variable component is linked to the performance of the individual's department, team, and personal achievements. To enhance employee retention, in addition to the existing "Four-Year Retention Program - A Program," CTCI launched a "Restricted Stock Plan" in 2021. Supported by the board of directors and shareholders, the first tranche of restricted stock has been successfully implemented under relevant regulatory guidelines. This restricted stock is categorized into two types: Class A for senior management and Class B for general employees. The issuance of restricted stock is contingent upon the fulfillment of specific requirements and conditions. For Class A, the criteria include achieving the company's operational objectives and the performance targets of the respective business unit in the most recent fiscal year. Class B requires the attainment of the company's operational objectives and an average performance rating of A or B for the individual in the most recent fiscal year.
The purpose of a living wage is to secure the basic livelihoods of employees so that they are able to pay for their basic living costs. In addition to complying with monthly minimum wage provision by law, CTCI takes care of colleagues and their families by providing food, clothing, housing, transportation, education, and insurance. It gives families more security so that their remuneration can stably meet the needs of family lives. Apart from considering factors such as income and expenditure, the possibility of savings needs to also be considered. Therefore, CTCI provides colleagues a shareholding trust plan. Depending on their own financial situation, colleagues can withdraw a portion from their salary every month (5 %, 10 %, or 15 %) while the Company will allocate 50 % to it. This is known as "shareholding trust account," where employees are encouraged to save and work together with the company and share the fruit of work as shareholders. Furthermore, based on the Company's performance appraisal policy, salary adjustments and bonuses are distributed according to colleagues' working performance to motivate their engagement at work. In order to encourage colleagues to integrate into the Company, four employee stock option certificates have been issued, targeting all employees, as well as measures planned such as increasing the shareholding percentage of specific managers each year. For 11 consecutive years, CTCI has been incorporated into "Taiwan HC100 Index," a salary and compensation index among Taiwanese companies. Each year, an external professional consultant, Wills Towers Watson, is entrusted to conduct a salary survey to understand relevant information on the external market in order to measure and maintain a certain competitive advantage in salary, which is quite helpful for the recruitment and retention of talented employees. The Economics Report serves as a reference of the annual cost of living at various countries/cities. Differences between work location such as urban or rural areas are taken into account to adjust the salary of colleagues around the world. This can maintain the necessary expenditure required of the local area among employees. The local "basic quality of living cost" and "workers' well-being" were analyzed based on the locations of employees at important operating locations, key first-tier suppliers, and contractors. They were measured in collaboration with the Center for Corporate Sustainability of Tunghai University in addition to the adoption of a proposed framework by Anker, (2011) and Anker and Anker, (2017). This helps us understand the basic needs of employees, suppliers and contractors in the cost of food, clothing, housing, education, social insurance, and others (such as unexpected incidents). After formulating a living wage, in line with the characteristics of the project engineering industry, the prevailing wage will be compared with the formulated living wage to understand whether the wage is sufficient to support the local standard of living, and if it can maintain the well-being of workers in the entire engineering industry chain.
