Flexible Benefits - SinFu Coin
Sinyi Realty Inc.
INTRODUCTIONIn line with the Company’s core philosophy, the Company developed a sustainable principle for employees by putting people first, employees are partners, not assets. Additionally, there are two major missions that are attracting great talent and creating a friendly workplace. The Company aims to increase employee satisfaction and to encourage employees to pay more attention to life-long learning, family care, and physical and mental health. Furthermore, the Company offered Sinfu Coin, an exclusive digital currency to employees and at the beginning of every year, employees will receive 10,000 coins to be used for various benefit options with different ratios.
FRAMEWORK AND STRATEGYSinfu Coin enables employees to choose their own benefits. With the implementation of this new strategy, employees will receive 10,000 coins at the beginning of every year, and these coins allows employees to spend on items that they need. The Company shapes their own business culture with a set of diverse options which focuses on physical and mental health, family care, life-long learning and environmental protection. Moreover, there is a larger ratio between coin and actual expenditures in some benefit options, which can be up to 1.5 times. Additionally, diversity learning is the way the Company encourages employees to pursue their interests. Not only that, spouse and parental medical check-up fees and children care expenses are covered by the Company. The Company is creating an inclusive workplace that cares about employees and their dependents following their principle of employees as partners, not assets.
ACHIEVEMENT AND IMPACTThe performance of this project has shown that the amount of times that the benefits were used amounted to 26,247 times and the utilisation rate is almost 100%, with feedback from employees that shows employees are satisfied being able to select their own choice of benefits. Also, the retention rate and employee engagement survey score achieved targets set by the Company for the project. By executing this exclusive and innovative project, the Company expects to create an environment for employees to feel satisfied with diversity, inclusion, business ethics, equity compensation and benefit systems with respect among employees. The Company also takes care of dependents and creates a positive atmosphere because the Company believes that employees with selfgrowth and a plentiful life will continue to grow the business and make the society better in accordance to United Nations’ Sustainable Development Goals (SDGs).
FUTURE DIRECTIONThe Company regards employees as partners by providing good working environment and an evolving benefit system. Sinfu Coin is a system that raises indirect financial conditions for their employees. In 2020, the Company developed subsidies for electric motorcycles in order to be eco-friendly and subsidies for flu vaccines in accordance with United Nations’ SDGs. Employees can strike the perfect work-life balance while the Company provides more support to enable their employees to accomplish their priorities and career goals.
Founded in 1981, Sinyi Realty Inc. provides innovative and comprehensive real estate services that builds on its mission of upholding and promoting the security of real estate transactions. Headquartered in Taiwan, the Company has branched out into China, Japan, and Southeast Asia. The Company is the core to Sinyi Group and is vertically structured into different business units that encompass the primary business of real estate, including real estate services and construction across international markets, and a special unit for culture and public welfare.