TOKYO - Asia's largest retailer is hoping that a US$280,000 annual salary and a managerial title in three years will lure top talent as it grapples with one of the tightest labour markets in Japanese history.
The higher pay is meant to draw in talented people to Fast Retailing and is being considered by Chief Executive Officer Tadashi Yanai, the company said. He is mulling putting the higher salaries into effect next spring. The effort follows a move earlier this year to raise compensation for some new hires.
As Japan struggles with an ageing population and a shortfall of young workers, businesses are dismantling previously sacred cultural norms, like the correlation of pay with experience, and the notion of lifetime employment. Tech companies in Japan have made similar moves to draw in young talent, promising million dollar salaries and raising starting pay by 20 percent for top candidates.
What is the criteria for being a star employee!!!?
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