Banks in Taiwan and Hong Kong enhance employee benefits to retain talent

Banks in Taiwan and Hong Kong are implementing new employee benefit policies to improve talent retention and standardize operations.

In Taiwan, state-owned banks such as Changshin Bank and Hua Nan Bank are revising regulations to attract and retain staff. Changshin Bank has introduced accelerated promotion tracks for certain levels, employee stock ownership trusts, and financial incentives for taking leave. To support work-life balance, the bank offers maternity leave of 58 days and provides subsidies for employees who take a minimum of 7 or 10 days of leave. Hua Nan Bank is also implementing similar measures, including enhanced training, performance-based assessments, and improved leave policies.

In Hong Kong, HSBC and Hang Seng Bank will unify their employee benefits starting January 1, 2025. This move aims to simplify administration and facilitate internal career mobility. Under the new framework, HSBC employees will transition to a standardized sick leave system with a 180-day cap. Junior and mid-level employees will see increased inpatient medical coverage for themselves and their families. Hang Seng Bank employees will adopt HSBC’s HealthPlus medical insurance and receive increased life insurance benefits.