TAIPEI (Taiwan News) -- Auto Tech Creations (ATC, 全拓工業) has not gone public, instead, its chairman prefers to invest the company's profits into his employees, giving them an average monthly salary of NT$67,000 (US$2,150), NT$10.5 million in bonuses, trips abroad, mobile phones, and seven sports cars to drive freely.
ATC Chairman Wu Chung-jang (吳崇讓), 60, offers a very open and generous salary standard and an adjustment to every employee's wages each month. As of the end of June this year, the base salary for all employees has increased by NT$3,900, reported Mirror Media.
In addition, each employee is provided with a mobile phone to facilitate official business-related communications, annual overseas trips, and seven sports cars to drive freely. The company's reputation for treating its employees well has drawn many talented local Changhua employees.
ATC produces high-end car seals for the world's largest supplier of automotive sealing components - Germany's FST. The firm supplies car seals to luxury car companies such as Mercedes-Benz, BMW, Porsche, Lamborghini, Maserati, and Ferrari.
The company is Taiwan's largest supplier of car seals to European automakers. ATC's revenue last year reached NT$360 million, according to Mirror Media.
Wu told Mirror Media that he traveled to Japan ten times to learn about Toyota's highly efficient and streamlined production process. He also learned about the importance of reducing waste and incentivizing employees.
"You make money not by squeezing employees, but by improving efficiency," said Wu. He added, "Don't underestimate this. I can save NT$35 million a year."
As a testament to the appreciation his employees feel for him, a card in his office reads in huge Chinese characters "Chairman We Love You." Below the card is a list of shareholders, with Wu's brothers, sisters, and mother at the top.
Wu told Mirror Media, "Employees are my brothers and sisters. My goal is for them to earn an average monthly salary of NT$80,000. I don't distribute profits to shareholders. They have more money than employees. Those people are thieves."
Wu's likes and dislikes are said to be distinct, he sees the world in black and white, with no gray area. Wu is grateful to his employees and says he receives great affection from them, at times even exceeding that of his own family.