Relationship with Employees | Encouraging employees to demonstrate their capabilities
Allowing our employees to reach their full potential is at the core of Nomura Group's personnel system. Nomura Group treats its employees as individuals, and provides a variety of opportunities for employees with ability and desire, regardless of their gender or age. Employees who perform to their potential are compensated accordingly.
In October 2005, Nomura Securities Co., Ltd. (NSC) replaced its previous employee categories of general managerial career employees and assistant career employees with two new categories: Zeniki-gata Shain (Whole Area Employees) and Chiiki-gata Shain (Specific Area Employees). The sole point of difference between the two new categories is whether or not the employee is subject to transfers that require a change of residence. In all other respects, such as scope of work duties, employee rank classifications and performance evaluation processes, the categories are identical. Employees may apply to switch between categories.
For financial advisers (FA), who are community-based
sales professionals, since October 2005 employment contracts have gradually been changed from fixed-term to non-fixed term, and the compensation system has been revised. We believe these changes will encourage FAs to approach their work with a long term perspective and demonstrate their abilities as asset management professionals to the fullest.
This new personnel system, which has abolished employee categories based on scope of duties, aims to give all employees a greater sense of responsibility in their work and allow them to perform to their full potential. We believe this also adds vitality to the company as a whole.
Nomura Securities Co., Ltd. aims to hire a wide range of personnel capable of responding to the diversifying financial services business. Our recruiting and hiring process focuses on giving applicants a good idea of the company's businesses as well as what working for the company would be like. In hiring people we also place importance on applicants' current abilities and potential. New graduates are hired as whole area employees, specific area employees or FAs, while mid-career employees are hired as needed by individual business areas, as whole area employees, specific area employees, FAs or specialist employees.
Under a program effective since April 2006, Group companies can rehire employees who are retiring due to having reached the mandatory retirement age of 60, or the age limit of their contract. In principle, employees who wish to continue working are re-hired under one-year contracts, which can be renewed until the employee turns 65.
In addition to helping our employees achieve a work-life balance following the end of their regular working lives, under this program, the Group stands to benefit from the contributions these employees can make using their skills and experience. In addition to providing them with work and compensation packages that match their individual abilities and experiences, this system allows these employees to flexibly select the manner in which they work, enabling them to achieve their desired work-life balance.
Work-Life Support Department (Work-Life Support Section, Personnel Department as of July 2008) was established in July 2006 with the aim of being a function that plans and runs the retiree rehiring system including employee duties, welfare benefits and life planning. We will continue to improve the system to ensure its smooth operation.
In the finance and securities business, employees must be allowed to realize their full potential in order to provide optimal service to customers. The Group has a system in place to support employees who take the initiative to receive education and training.
We recently revised our overall training system in order to further promote professional ethics. Specifically, we enhanced training with respect to compliance and professional ethics, as well as bolstering the training system at both the time of hiring and when employees are placed in specific job positions. As part of our efforts to provide effective education and training that help employees' acquisition of knowledge and skills, e-learning and correspondence courses have been added to traditional group training programs. The aim of group-based training is to get employees to improve their ability to analyze on their own initiative. Another objective has been to develop an in-house network that provides opportunities for motivation through presentations by external lecturers and learning about the activities of their fellow employees around the country. After the switch to the new personnel system, many training programs that used to differ for employees depending on their employment category are now common to all employees, and this has created more opportunities for whole area employees, specific area employees and FAs to receive the same training and education.
In addition, support is provided to employees who undertake further study to acquire skills that they need, by paying for examination fees and other expenses associated with acquiring qualifications. In fiscal 2007 NSC spent approximately ¥167,000 per employee on training and education.
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Nomura Group aims to have a personnel system that is consistent, from hiring through development and training, so as to develop our personnel and achieve a virtuous cycle where both individuals and the entire Group grow together.
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