Regarding the Introduction of a New HR System

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) has introduced a new human resources system (hereinafter, the “new system”) in April 2021.Sumitomo Corporation established its Global HR Management Policy in 2020 as a basic concept regarding human resources management on a global basis, and this revision of its HR system is being carried out as one of the measures to embody this policy.

The new system introduces a job grading system for managers based on the "Pay for Job, Pay for Performance" concept. We will terminate our seniority-based system, aim for optimal placement of the best talents, and establish a system that better links duties and achievements with remuneration. In addition, we will maximize the potential of our talents according to each person’s strengths and aptitudes, and promote the training and development of top tier professionals in various different fields of business, by revamping our evaluation system and HR development system.

Sumitomo Corporation has designed the new system to facilitate cooperation with offices around the world, and will utilize this as a basis for accelerating the promotion of global-based HR management measures as well as diversity and inclusion. As an initiative of diversity and inclusion in Japan, we will promote the building of an HR portfolio that is rich in vitality and diversity by setting quantitative targets for promoting women’s empowerment and strengthening our recruitment of highly specialized career-oriented talents.

As a company that truly values its people, Sumitomo Corporation’s goals are to provide opportunities that enable individuals to continue to grow autonomously, and to train and develop world-class talents. We are committed to achieving these through the new system.

(Reference material)
Human Resources Strategy in the New Medium-Term Management Plan SHIFT 2023—Human Resources System Revision(PDF/443KB)