Initiatives to Improve Human Capital
Create “The Ideal Group of Talents” who share the Three Core Values
To carry out corporate culture reforms for the Group’s evolution and fulfill the Sompo Group’s Purpose, we must boost our employees’ motivation and happiness and dramatically improve their productivity through “New Work Style,” which is one of the core strategies of the new mid-term management plan. To this end, the Sompo Group aims to create “The Ideal Group of Talents” who share the Three Core Values (mission-driven, professionalism, diversity & inclusion). To realize this, we will carry out a variety of Group-wide HR initiatives and introduce a Productivity KPI System as a framework to systematize and visualize our initiatives, which will help us check our progress and make improvements.
Key Group-wide HR initiatives to realize “The Ideal Group of Talents”
1 Clarify one’s own mission (life and work)
Practice a self-directed work style based on MY Mission
The Sompo Group has launched the online management training program "MY Mission Training Program” to pursue transformation that creates a mission-driven corporate culture. Through the MY Mission 1-on-1 meetings with supervisors, each employee discusses and focuses on their own mission and practices a self-directed work style.
MY Mission refers to a person’s own life mission. At the Sompo Group, we define “WANT” as the moment when one’s heart is moved, “MUST” as social responsibility, and “CAN” as the ability given to us by fate, and the area where these three circles overlap is the MY Mission that drives us. Then, with the view of work being a part of life, rather than life being a part of work, we aim to further enhance job satisfaction and productivity by having each employee overlay their MY Mission with the Sompo Group’s Purpose as they go about their day-to-day work.
We will roll out the MY Mission training program, which was first introduced in Sompo Holdings last year, to all Sompo Group companies from fiscal 2021. Then, with MY Mission as the driving force, all employees of the Sompo Group will take ownership of their work with a sense of mission and job satisfaction, thereby increasing engagement and providing new value to society and customers.
2 Promote self-directed career development
Use of job-based employment system
Promoting self-directed career development is essential in realizing The Ideal Group of Talents that share the Three Core Values. We will greatly expand opportunities for self-selection of careers and employee growth in order to fulfill each employee’s MY Mission, and boost employee satisfaction and productivity.
We are promoting the introduction of a job-based employment system within the Sompo Group to enable self-directed career development. At Sompo Holdings, we introduced the job-based employment system in April 2020. We believe this will help with self-directed career development, as the system clearly defines the required expertise and scope of responsibilities, and is designed to hire and assign talent with the necessary experience and skills based on the nature of the job. In April 2021, all general manager posts in the Company were switched to job-based employment, and section manager posts will also be gradually switched to job-based employment. Additionally, we will roll this system out to each of our businesses. Furthermore, we are actively appointing highly specialized talent from outside of the Company in key positions such as directors, executive officers, general managers, and specialists, and are promoting the strategic allocation of talent.
Introduce consistent group training system and promote self-directed learning
To develop talent that can take the lead and manage the Sompo Group at a global level in the future, we have been carrying out training for selected employees of all levels since fiscal 2021. For higher-level employees, we offer a curriculum that incorporates our Succession Plan, and for younger employees, we offer the SOMPO Global University, an inhouse university in partnership with the National University of Singapore Business School. From the perspective of diversity, we invite a wide variety of participants, including from Sompo Group companies in Japan and overseas, and have introduced a system to ensure that future Sompo Group management talent are familiar with the Group Management Philosophy.
In addition, Sompo Japan Insurance Inc. has established Sompo Japan University as a place for online learning amid the COVID-19 pandemic, and supports the efforts of each and every employee to take on challenges by providing a place for self-directed learning.
3 Enhance “Happiness at work”
Improve engagement and wellbeing
The Sompo Group aims to contribute to creating a sustainable society by placing even greater importance on the happiness at work of its employees, who are among its multi-stakeholders, along with the interests of its customers and shareholders. In addition, we are working to improve engagement and wellbeing, as we believe that increasing the satisfaction and happiness of each employee is the driving force behind high productivity. In the employee engagement survey conducted in fiscal 2020, we received responses from over 23,000 employees at 33 companies (21 in Japan and 12 overseas) across the Sompo Group. Furthermore, from fiscal 2021, we have newly set employee engagement as a KPI for the entire Sompo Group. We aim to further improve engagement and wellbeing by developing various measures aimed at promoting and fulfilling the Sompo Group’s Purpose, and through measures for work-style reform and initiatives linked to promoting health and productivity management.
Promoting health and productivity management
The Sompo Group Health & Productivity Management Declaration formulated in September 2020 is a Group-wide policy that incorporates three key aspects of health and productivity management: (1) embodying the Sompo Group Management Philosophy, (2) improving productivity, and (3) enhancing corporate value. Based on this policy, we are promoting initiatives with a focus on three areas including maintaining and improving employee health, ensuring a vibrant work environment, and data health.
Sompo Holdings has been selected as a Health & Productivity Stock in 2021 for the third consecutive year by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange as a company that excels in health and productivity management. In addition, 20 Sompo Group companies have been recognized under the Certified Health & Productivity Management Outstanding Organizations Recognition Program.
The Sompo Group Health & Productivity Management Declaration
The Sompo Group values the mental and physical health of its employees and their families so as to "contribute to the security, health, and wellbeing of customers and society as a whole by providing insurance and related services of the highest quality possible.”
- We will respect our employees’ sense of ownership and support proactive health activities that reflect the mission and work style of each employee.
- We will provide a place where people can showcase their diverse talents and strengths, and improve the productivity of individuals and organizations through a healthy and empowering environment.
- We will help create a healthier and more energetic society by improving employee job satisfaction and bringing forth innovation.
4 Creating an environment that turns diversity into power
Promoting diversity and inclusion
The Sompo Group has positioned diversity and inclusion (D&I) as part of its business strategy and is promoting it under the slogan "Diversity for Growth.” The purpose of promoting D&I is to facilitate sustainable growth of the Sompo Group and enhance corporate value by bringing forth innovation and improving employee happiness and satisfaction.
To fulfill the Sompo Group’s Purpose of serving as “A Theme Park for Security, Health and Wellbeing,” we need to welcome the good clashes that happen when a diverse set of people come together, and build on that to innovate and find new value. It is important to achieve true D&I and tie it into major innovation under the idea that each and every employee at the workplace, regardless of gender, disability, nationality, age, etc., can leverage their individual talents and strengths, take advantage of change, and create new value.
In addition, we believe that employees working and feeling that they are contributing to the team by showcasing their unique qualities and strengths is an important factor that leads to employee happiness. Furthermore, we believe that the foundation for this lies in creating a culture that accepts everyone’s differences, and the Diversity Promotion Division will be the driving force behind our Group-wide efforts.
Advancement of women
We aim for women to account for at least 30% of our managers across the Sompo Group by the end of fiscal 2023, and are carrying out training programs for women to improve the knowledge and skills of female employees and transform their awareness and mindset, while also implementing our own programs at each Sompo Group company.
As of July 2013, there were 305 female managers in the entire Sompo Group and the ratio of female managers to total managers was 5.0%, but as a result of the above efforts, there were 1,384 female managers as of the end of March 2021 and the ratio of female managers to total managers was 24.2%.
For the fourth consecutive year, the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) have selected Sompo Holdings as one of the “Nadeshiko Brand” companies, which are listed companies that make outstanding efforts to encourage women’s success in the workplace and are introduced as attractive stocks to investors focused on medium- to long-term enhancement of corporate value.
Promoting advancement of people with disabilities
The Sompo Group hires people with disabilities all over the country, and is making efforts to create workplaces where they can play an active role and secure employment. As of June 1, 2021, the Sompo Group’s employment rate for people with disabilities is 2.38%.
Sompo Japan Insurance Inc. has placed vocational life consultants for people with disabilities throughout Japan, and has established a system to provide support for creating comfortable workplaces. SOMPO Challenged Inc., a special-purpose subsidiary* established in April 2018, also plays a role in driving the employment and activities of people with disabilities in the Sompo Group.
* A special-purpose subsidiary is a subsidiary that has been certified by the Minister of Health, Labour and Welfare as meeting certain requirements stipulated in the Act on Employment Promotion, etc. of Persons with Disabilities and that gives special consideration to the employment of persons with disabilities.
5 Visualize and systematize initiatives
Established a “Productivity KPI System” to check the progress of initiatives and make improvements
The Sompo Group has established a “Productivity KPI System” to systematize and visualize its initiatives for workstyle reforms, including the realization of The Ideal Group of Talents that share the Three Core Values, and by using this system, we will be able to check our progress and results, and make improvements.
Specifically, we use a group-wide framework to show how our work-style reform initiatives tie into improving our financial and pre-financial corporate value, and then set measurable KPIs. We have set KPIs that are common across the Sompo Group, such as employee engagement indicators, as well as KPIs that are specific to the characteristics of each business. By monitoring these KPIs, we will check the progress of our initiatives for the Group as a whole and for each business, while also using them to promote employee understanding.
◆ The “Productivity KPI System” consists of three layers based on the following approach.
- Set financial and pre-financial KPIs that constitute productivity (Productivity KPIs)
- Drill down to Action KPIs that reflect the results, quantity, and quality of initiatives that lead to improving Productivity KPIs
- Set Work-style Reform KPIs that reflect the effectiveness and progress of work-style reforms that improve the value of Action KPIs