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10.Jan.2024
We in response to the success of the past year by granting a salary increase to all employees in 2024.
In 2023, the political changes and economic environment around the world causes a huge impact on global economy, especially for Taiwan's traditional industry manufacturers based on export orientation. Such economic environment causes a huge pressure on these industry manufacturers’ operation. While facing the threats caused by water and labor shortage, the raise of land and electricity bill and unstable electric supply, most of the manufacture can only strive to survive.
Tanong Company belongs to a relatively niche market. Due to the global politic and economic situation, market changes are still very unpredictable. Though our revenue has declined, like most companies, after several years of adjusting Cost Reduction plan and Lean Production plan, our operating gross profit margin has continue to improve during the past few years, and Tanong has achieved a margin growth rate of 15% in 2023.
The above-mentioned growth in margin is attributed to the continuous and uninterrupted efforts of all employees. This includes adjustments to the product lineup, introduction of new manufacturing processes, significant improvements in production waste, optimization of pricing methods and structures, enhancement of factory space utilization rates, continuous improvement in customer complaints and production quality, etc. It is the collective awareness of continuous improvement among all employees that forms the strong foundation for this achievement.
To reward our employees for their hard work and to encourage employees to take the initiative to continuously improve, Tanong, with the proposal of the management team and the support of the board of directors, we have raised the salary of all employees 5 to 7 percent to summarized the success of 2023.
Tanong Company belongs to a relatively niche market. Due to the global politic and economic situation, market changes are still very unpredictable. Though our revenue has declined, like most companies, after several years of adjusting Cost Reduction plan and Lean Production plan, our operating gross profit margin has continue to improve during the past few years, and Tanong has achieved a margin growth rate of 15% in 2023.
The above-mentioned growth in margin is attributed to the continuous and uninterrupted efforts of all employees. This includes adjustments to the product lineup, introduction of new manufacturing processes, significant improvements in production waste, optimization of pricing methods and structures, enhancement of factory space utilization rates, continuous improvement in customer complaints and production quality, etc. It is the collective awareness of continuous improvement among all employees that forms the strong foundation for this achievement.
To reward our employees for their hard work and to encourage employees to take the initiative to continuously improve, Tanong, with the proposal of the management team and the support of the board of directors, we have raised the salary of all employees 5 to 7 percent to summarized the success of 2023.
In response to the success of the past year ,we granting a salary increase to all employees in 2024.
Outstanding employees take a group photo in the end-of-year party.
