Welfare Systems : FY2006
Supporting both the working and private lives of employees
Olympus believes that it is important for its employees to actively
work toward their higher targets as well as living a full life at home and
in society. To support this, we have established a variety of work
arrangement and welfare systems through negotiations with employees
and the labor union. Some of the major arrangements are as follows:
Welfare Cafeteria Plan
Olympus introduced this system to fulfill the diversified needs of the employees. In this system, they are given welfare points every year and are entitled to make choices among the various welfare schemes. The given points can be used for the costs of nursery and after-school programs for children, education, and family care. The unit price per point is doubled for certain important activities such as learning foreign languages, or caring for elderly parents. The unit price per point is doubled when used or the cost paid to babysitters and day-care centers, as Olympus has set these as an important priorities.
"Refresh Plan" and PLP Seminar
The "Refresh Plan" was introduced to help long-time employees have a renewed look at what they have achieved and what they can do in the future in their time remaining with the company. Employees are given paid holidays and bonus at the seventh and twentieth year of service. In addition, the Age 55 Pension Life Plan (PLP) Seminar is provided for employees nearing retirement age to help them how they are going to live after retirement. Employees, together with their spouses, can join the seminar held at a hotel in a resort to learn about and plan for life after retirement from three viewpoints: money, objectives, and health.
| 7th year of employment | Paid holidays: 5 days |
|---|---|
| 20th year of employment | Paid holidays: 10 days |
| At the age of 55 | Paid holidays: 5 days, Participation in the PLP Seminar |
Annual Paid Holidays
Employees apply for paid holidays and receive permission through an intranet-based procedure. The management should keep a good workload balance and always consider the workforce available when granting leave to applicants so that employees will find it easier to take leave without causing an excessive load to be placed on certain employees.
| No. of annual paid holidays (for full-time workers) |
20 days a year, starting the first year of employment Unused paid holidays can be carried over to the next year only. |
|---|---|
| Consecutive leave promotion scheme (Creative Holiday) |
5 consecutive leave is promoted (can be taken combining with ordinary holidays) |
| Expired annual paid holiday saving scheme (Special Sick Leave) |
Saving of up to 50 days allowed for medical treatments and family care (paid holidays) |
Childcare and Family Care Support System
Olympus respects the Childcare and Family Care Leave Law. The childcare and family care support system offered by Olympus provides more benefits than prescribed by statute.
| Childcare | Leave of absence | Within one year, up to the child's second birthday (may be extended for an additional six months in special cases) 48 employees used this system in FY2006. |
|---|---|---|
| Reduction in working hours | Until March 31 of the year the child enters elementary school | |
| Leave for nursing care | 5 days (paid) per year until March 31 of the year the child enters elementary school | |
| Family care | Leave of absence | Up to one year per person in need of care per condition 1 person used the system in FY2006. |
| Reduction in working hours | Up to one year per person in need of care per condition | |
| Exemption from overtime and midnight work | As prescribed by statute | |
Volunteer Leave
This system allows Olympus employees to join volunteer programs, such as the Japan Overseas Cooperation Volunteers. Employees who use this system are fully entitled to resume the job they held before taking leave.
| Purpose | Leaving for participation in social contribution program typically held or organized by international organizations, the Japanese government, local governments, or social welfare corporations |
|---|---|
| Period | Longer than one month but up to two years |
| No. of employees who used this system | No employees in FY2006, 3 in total since FY1995 |
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