Case study: How Compeq attracts and retains talented professionals
As a global leader in technology research and development and as the first specialized printed-circuit board (PCB) manufacturing company in Taiwan to support the government in developing the high-tech industry, with approximately 18,000 employees worldwide, attracting and retaining top talent is a key priority for Compeq Tweet This!.
This case study is based on the 2016 Corporate Social Responsibility Report by Compeq published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
Abstract
Employees are Compeq’s most valuable asset and a key to building the company’s competitive advantage. In order to attract and retain talented professionals Compeq took action to:
- promote diversity and equal opportunity
- guarantee fair and competitive wages
- offer employee benefits
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With this case study you will see:
- Which are the most important impacts (material issues) Compeq has identified;
- How Compeq proceeded with stakeholder engagement, and
- What actions were taken by Compeq to attract and retain talented professionals
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What are the material issues the company has identified?
In its 2016 Corporate Social Responsibility Report Compeq identified a range of material issues, such as economic performance, effluents and waste, occupational health and safety, market presence, environmental compliance. Among these, attracting and retaining talented professionals stands out as a key material issue for Compeq.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups Compeq engages with:
| Stakeholder Group | Method of engagement |
| Employees
| · Employee conference · Communication hotline, suggestion box, and email · Intranet and extranet · Memo/weekly assembly announcements · Corporate Social Responsibility Questionnaire |
| Union
| · Union Directors and Supervisors · Labor Union Congress · Employer-Employee Meeting · Corporate Social Responsibility Questionnaire |
| Customer
| · Email · Extranet · Customer Satisfaction Questionnaire · Client Audit · Corporate Social Responsibility Questionnaire |
| Supplier
| · Email · Supplier Monthly Review Meeting · Supplier annual audit and review · Corporate Social Responsibility Questionnaire |
| Investor (Shareholder)
| General shareholders: · Shareholders Meeting · Annual Report · Information Publication · Website · Corporate Social Responsibility Questionnaire Institutional investors: · Company Visit · Seminar · Corporate Social Responsibility Questionnaire |
| Government authorities | · Correspondence of official documents · On-site interview and inspection by competent authority · Corporate Social Responsibility Questionnaire |
| Media | · Press conference · Press release · Corporate Social Responsibility Questionnaire |
| Local communities | · Local community organization · School · Corporate Social Responsibility Questionnaire |
How stakeholder engagement was made to identify material issues
To identify and prioritize material topics Compeq distributed a questionnaire to the company’s eight stakeholder groups. Out of a total of 485 copies of the questionnaire distributed, 256 were collected – a response rate of 53%.
What actions were taken by Compeq to attract and retain talented professionals?
In its 2016 Corporate Social Responsibility Report Compeq reports that it took the following actions for attracting and retaining talented professionals:
- Promoting diversity and equal opportunity
- Compeq recruits eligible talents through fair and impartial recruitment procedures, without discrimination. In addition, in the company’s Taiwan plants, besides hiring people with disabilities at a proportion that follows the government’s incentive requirements, Compeq employs indigenous peoples. In China, Compeq hires minority groups, such as Tujia, Zhuang, Miao, Yi and other minority ethnic groups.
- Guaranteeing fair and competitive wages
- Compeq’s salary system is characterized by external competitiveness and internal fairness. The start pay is determined by educational attainment and work experience, regardless of race, ethnicity or social background, protected genetic information, religion, disability, gender, sexual orientation, marital status, union membership, political affiliation or age. Additionally, through a fair and reasonable promotion and transfer system, Compeq minimizes employee turnover and has also established a competitive wage system in the market to retain talents.
- Offering employee benefits
- Compeq provides employees with various benefits covering food, clothing, housing, transportation, education and entertainment. All plants provide free meals and air‐conditioned dormitories with sports and recreational spaces, with facilities that include a pool ball, table tennis and fitness equipment. In addition, Compeq has established the Employee Welfare Committee (EWC) to arrange picnics, employee club subsidization, local and overseas tour subsidization and subsidization for wedding, funeral and childbirth.
Which GRI indicators/Standards have been addressed?
The GRI indicators/Standards addressed in this case are:
1) G4-EC3: Coverage of the organization’s defined benefit plan obligations – the updated GRI Standard is: Disclosure 201-3 Defined benefit plan obligations and other retirement plans
2) G4-EC5: Ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation – the updated GRI Standard is: Disclosure 202-1 Ratios of standard entry level wage by gender compared to local minimum wage
3) G4-LA2: Benefits provided to full-time employees that are not provided to temporary or part-time employees, by significant locations of operation – the updated GRI Standard is: Disclosure 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees
4) G4-LA3: Return to work and retention rates after parental leave, by gender – the updated GRI Standard is: Disclosure 401-3 Parental leave
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References:
1) This case study is based on published information by Compeq, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:
http://database.globalreporting.org/
2) http://www.fbrh.co.uk/en/global-reporting-initiative-gri-g4-guidelines-download-page
3) https://g4.globalreporting.org/Pages/default.aspx
4) https://www.globalreporting.org/standards/gri-standards-download-center/
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