Taiwan to reveal names of listed companies with the most low-wage workers

A list of the 50 best and worst-paying companies in the country will be first issued this June

The photo shows the Taiwan Stock Exchange

The photo shows the Taiwan Stock Exchange (Taiwan News photo)

TAIPEI (Taiwan News) - To address the low-pay epidemic in Taiwan, the country's financial authorities next year are slated to reveal the names of the TWSE- or TPEx-listed companies with the most low-wage workers, this year, and another list of companies which pays lower than the market average for a position and whose staff members earn less than NT$500,000 (US$16,730) a year on average.

The Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) said in a Legislature subcommittee meeting Wednesday that a list of the 50 best and worst-paying companies which are listed on the Taiwan Stock Exchange and Taipei Exchange, will be issued at the end of June this year.

The low-pay issue has been one of the biggest problems facing the Tsai administation. Taiwan Premier William Lai on May 14 touted near-term and long-term solutions to address the issue of slow wage growth, including increasing the minimum wage for the lowest-paid public sector employees and contractors to NT$30,000 (US$1,008) per month "progressively," with an estimated 47,000 people expected to benefit from the boost to the public sector's wages.

Koo explained that the measure is set to create salary transparency and to encourage listed companies to share earnings with their staff.

On the other hand, companies whose annual salary for workers is lower than industry average, decreased despite a yearly increase of earnings per share, and on average is less than NT$500,000 (US$16,730) a year, will be made known by the end of June next year.

An FSC official told the Economic Daily News that the average salary currently includes company executives, but the FSC is mulling plans to exclude from the statistics upper-level managers, who are usually paid far higher than typical workers.

According to the FSC, the financial sector reported great earnings last year and a pay raise is expected for their employees, including more than 900 listed companies which stated that they are planning to give their workers a raise this year.