| Compensation PhilosophyAs a leading semiconductor company in China, we believe our company’s future excellence relies on our talented and hard-working employees. We strive for a performance - oriented culture and apply this philosophy to our total compensation program, which is designed to strengthen our competitiveness.
To attract and retain key talent, we provide salaries that are competitive in the semiconductor industry. We have good incentives designed to provide tangible rewards to outstanding performers. These include:
Job responsibilities and employee performance are the basis for deciding salary. Each employee’s salary is reviewed on a regular basis to ensure we keep salaries competitive with other companies in our industry. At SMIC, every employee’s effort and performance will be recognized and reflected in his or her salary.
Certain employees are provided with categorized allowances, e.g. Shift Allowance, Special Duty Allowance, and Team Leader Allowance, to reflect the unique character of the semiconductor industry and the demanding nature of certain positions.
Our incentive plans cover all employees, including manufacturing workers, sales staff and others. Incentive programs are designed to reward achievements in productivity and business performance and are determined by individual performance. SMIC strives to establish a positive cycle of strong performance rewarded by strong incentives.
Our employee stock program allows employees to share in the company’s overall business goals and provides an opportunity to benefit from the company’s success.
Benefits In addition to statutory benefits, such as statutory leave, social welfare insurance and social funds, supplementary benefits are offered to give our employees peace of mind and healthy work-life balance.
Besides statutory medical insurance, the additional private medical insurance that SMIC provides helps local employees to receive better treatment with a reduced financial burden. Meanwhile, our global medical insurance plan ensures good medical care for our foreign employees. The professionals in our on-site Health Center provide care for employees 24 hours a day, as well as periodic physical exams.
Our continuing education programs provide a platform for our employees to advance their education and gain up-to-date knowledge relevant to our industry. For more information, see Career Development.
The SMIC Private School
All employees’ children can study at the SMIC Private School, which provides high-quality bilingual education at subsidized tuition rates. Many SMIC Private School graduates are accepted at top universities in the US and other countries. For more information, please visit www.smic-school.cn .
In addition to the statutory leave, SMIC provides annual leave. After one year of service, every employee will receive a minimum of 10 days of annual leave.
Employees enjoy free meals during work hours at our company cafeterias, which serve a variety of cuisines for all tastes.
Employee travel, Carnival Day, sports competitions, holiday celebrations and other activities unite our employees and family members for times of fun and joy.