TSMC expands employee benefits to include pet care

Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s leading chipmaker, has taken a pioneering step in recognising the importance of pets in employees’ lives. The organisation has included pet care in its global employee benefit plan for the first time, as part of its efforts to enhance benefits for employees.

The new benefit is part of TSMC’s Global Flexible Benefit Plan (tFlex), which was launched earlier this year to provide employees with more flexibility and autonomy in choosing their benefits. The plan covers four major areas: medical and insurance, family care, wellness, and development and volunteering.

Under the tFlex plan, full-time employees are offered flexible benefit points equivalent to about US$250 each year, which they can use to redeem benefits that meet their individual needs. Pet care is part of the family care category, which also includes travel expenses, parental care, child education and care, family membership, and legal consultation.

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According to TSMC, the inclusion of pet care in the benefit plan reflects the organisation’s recognition of pets as “important family members in modern society.” The organisation believes that high-quality work and benefits are key to attracting and retaining talent and is committed to supporting the development and needs of employees at different stages of their careers.

As of early November, a total of 81,828 tFlex applications had been received, valued at NT$470 million, with more than half in the family care category. TSMC plans to continue evaluating the expansion of coverage under the tFlex plan to meet the evolving needs of its employees, reported Focus Taiwan.