Bloomberg - Nomura to transition to merit-based pay

Nomura will introduce a merit-based pay system at its domestic securities unit next year, moving away from the long-standing Japanese practice of rewarding staff mostly according to their age.

Bloomberg News reports that under the new structure, employees at Nomura Securities Co. will see their salaries and bonuses “more appropriately reflect” their job responsibilities and performance, irrespective of age or tenure, Japan’s biggest brokerage said in a statement Tuesday.

The new policy will involve bolstering its recruiting program for new graduates as well as hiring more people in mid-career, it said. The planned changes will take effect April 2020. Nomura will complete details through negotiations between workers and management.

Hit the link below to access the complete Bloomberg News article:

Nomura to Introduce Merit-Based Pay, Moving Away From Seniority

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