The salary system of MISUMI Group Inc. and MISUMI Corporation is on an annual basis, which is determined by the weight of responsibility and performance of employees. In addition, we have a performance bonus system designed to motivate employees towards business growth achievement based on the growth company-wide and the growth of division to which the employee belongs.
To reward employees for their long-term contributions, MISUMI has introduced a retirement benefit plan for full-time employees and a Defined Contribution Pension Plan to help employees build assets for their retirement. Each group company has implemented a retirement allowance system based on local labor legislation and social environment, and also has introduced a Defined Contribution Pension Plan that allows receipt of pension payments to guarantee their lives after retirement and working to design and operate the system to be attractive to employees.
As specific examples, MISUMI Group Inc. and MISUMI Corporation offer the following plans to full-time employees.
MISUMI Group Inc. and MISUMI Corporation grant stock options as a form of stock-based compensation to executives in charge of management to motivate the improvement of their performance and retain them. The top management decides the number of shares to be granted based on the previous year's performance, future performance expectations over the mid- to long- term, and the degree of contribution to the company.
By becoming a shareholder, the hope is for employees to pursue work with the same perspective as shareholders, further heightening their ownership of the company. At the same time, the company provides incentives and support to employees for acquiring their own shares as part of the company's benefit. Full-time employees of MISUMI Group Inc. and MISUMI Co., Ltd., are eligible for this program, the details of which are as follows.
There are no labor unions at MISUMI Group Inc., MISUMI Co., Ltd., and group companies in Japan. For cases requiring a labor-management agreement, it is concluded between the company and the person who represents the majority of the employees.
Once a month, one can receive a 40-minute massage + 10-minute consultation for 500 yen. Many employees use it, and such comments have been received- “in-house massages are great as it enables one to get treatment in-between work-related tasks”, "massage relieves fatigue making one feel that they can go the extra mile”.
Contract is in place with a recreational facility provider called Laforet Club. It owns and manages hotels in 13 locations, as well as partnering with approximately 70 hotels nationwide. In addition to corporate membership pricing, corporate subsidies are also provided. Many employees use it when traveling with their family and colleagues, with feedback such as "reasonable pricing" and "delicious food", as characterized by the fact that there are many repeaters.