Sustainability Activities (ESG)
Human Capital
Human Capital
Human Capital
Basic Policy and Approach
The Mitsubishi Estate Group believes human resources are an important asset for realizing Long-Term Management Plan 2030 and creating new value for society. In addition, the Group formulates the vision for its human resources and organization based on the distinguishing features of its business model and its future business policies.
Vision for Our Ideal Human Resources and Organization
The Mitsubishi Estate Group promotes a wide range of businesses on a Groupwide basis, including the Commercial Property, Residential, International, and Investment Management businesses. The Group believes it needs human resources who can demonstrate the competencies that comprise the two roles of “Professional” and “Change Maker” while possessing the five traits it requires of them to achieve further business expansion.
Creating Value as the Mitsubishi Estate Group
Demonstrating the Qualities of Professionals and Change Makers
*2 Five Traits
| Traits | Definition | Desired Strengths |
|---|---|---|
| People with Vision | People who can visualize what they want to achieve and have the determination and dynamism to do so | The ability to create and promote their vision with determination and courage |
| People with Frontline Capabilities and the Required Skill Sets for Their Role | People who develop their skills and knowledge as a professional in both their field of specialization and the real estate industry and who have the ability to drive business forward | The ability to make sound judgments, be customer-oriented, and drive business forward while also being productive and possessing risk management skills as well as professional-level skills and knowledge |
| People with Integrity | People with high ethical standards, who act with integrity and fairness, and who build good relationships with those around them | Open-mindedness and high ethical standards |
| People with TeamBuilding Skills | People capable of carrying out human resource development and management in order to increase the competitiveness of the organization | The ability to nurture talent, work as part of a team, and deploy management skills |
| People with a Passion for Taking On Challenges and Innovation | People who are not bound by precedent or convention and who have the spirit to take on challenges and act without fear of failure | Challenge-oriented and innovative |
Competencies- Qualities Required in Every Employee -
Professional
Human resources who create new value using their specialist expertise
In addition to steadily advancing large-scale developments in Japan, Mitsubishi Estate recognizes that it must strengthen its International Business, expand its non-asset business, and advance into businesses in the services and content domain, while becoming a trusted presence as a developer capable of leading its partners by maintaining an awareness of its role and skills as a professional in those fields to accelerate the development of businesses in order to create value and achieve Long-Term Management Plan 2030. Based on this view, the Company has improved its recruitment of specialist human resources in various domains and invested proactively in training programs to help all employees acquire and strengthen the expertise they require.
Measures
Utilizing the Competency Development Program
Positioning the knowledge, skills, and experience required for each job grade as Compulsory Study Topics, Mitsubishi Estate provides training and access to external courses for every employee to acquire such knowledge, skills, and experience within fixed periods to facilitate their lifelong learning. The Company has also established a program to provide full subsidies of up to ¥300,000 per year for employees to attend courses on required competency development topics (27 in total, including foreign languages, business skills, digital transformation, the SDGs, and liberal arts) as Optional Study Topics.
Strengthening the Recruitment of Specialist Human Resources
Since FY2020, Mitsubishi Estate has been strengthening the recruitment of specialist human resources for business domains to be improved strategically in order to achieve Long-Term Management Plan 2030. In particular, the Company is proactively recruiting specialist human resources for the DX domain, creating a digital specialist position in FY2024 and advancing a system to properly train and assess DX human resources.
Accomplishments (Value Created)
DX Promotion Leveraging Professionals
In accordance with the Mitsubishi Estate Digital Vision, formulated in June 2021, digital specialists take the lead in building secure IT infrastructure, developing digital contact points and online services, and reforming and strengthening existing businesses in the Group. For example, these efforts have delivered results that have direct business impacts by leveraging flow data obtained from our business data and various touchpoints on a common data platform accessible to all Group companies.
Change Maker
Human resources who augment each other’s strengths through collaboration
A distinguishing feature of the Mitsubishi Estate Group’s business model is the need to grow businesses by continuously creating new value and domains in accordance with new lifestyles and trends ahead of the times as a developer engaged in urban development, which is a long-term business. The Group requires employees to have the spirit to take on challenges without being bound by precedent, so that they can identify issues from fresh perspectives and augment each other’s strengths through collaboration by using internal and external networks while leveraging the Group’s strengths of a long-term perspective and forward-looking DNA.
Measures
Providing Training to Spur Innovation
Mitsubishi Estate provides training for employees newly appointed to positions where they will become managerial candidates. The training requires the candidates to rethink their aspirations and reform their own behaviors to spur innovation.
Using the 10% Rule System
We have introduced a system that seeks to have employees dedicate 10% of business hours to activities promoting business model innovation, or activities improving operational efficiency and transforming our corporate culture that contribute to such innovation. The content of the activities is included in assessments of human resources.
Employees are free to choose how they use their time and are currently working on a wide range of topics, such as developing measures to improve efficiency in their daily work, building networks with external parties, and preparing applications for the New Business Proposal System. An internal survey found over 70% of employees were engaged in business model innovation through such initiatives. We aim to increase that percentage even further.
Achievements (Value Created)
Taking On the Challenge of Developing a Flying Car Business
Designed by Mitsubishi Jisho Design
Mitsubishi Estate’s involvement in a flying car business, which it positions as one element in the city of the future, began with the efforts of an employee who used the Company’s 10% Rule System to realize business model innovation. A mobility revolution featuring flying cars will expand our business, creating a borderless world and transforming lifestyles—a prime example of a business that is ahead of the times.
Organizational Culture
As One Team
An organization that maximizes value by combining the strengths of each of its employees
The Mitsubishi Estate Group recognizes that accommodating diverse human resources and workstyles is crucial to managing and operating its businesses. The Group therefore aims to maintain a well-balanced composition of employees in terms of nationality, gender, age, career stage (graduate recruits and mid-career recruits), and other characteristics.
In particular, Mitsubishi Estate focuses on ensuring diversity in its recruitment through a range of initiatives, such as setting a target for female employees to account for more than 40% of its workforce every year, introducing a recruitment process for non-Japanese human resources in its graduate recruitment, and strengthening recruitment of mid-career hires (mid-career hires account for approximately 40% of new recruits in the average year). We also encourage a diversity of opinions to create an environment where employees can freely express their diverse values and views with peace of mind. In this way, the Group aims to achieve ongoing growth by creating a vibrant workplace.
Measures
Determining the Current State of Gender Diversity and Implementing Measures
In FY2023, Mitsubishi Estate conducted an attitude survey of all employees to determine the current state of gender diversity within the Company, sharing the issues that emerged with directors and members of the management team. Based on the survey results, in FY2023 we advanced measures to create an organizational culture that facilitates gender diversity. These include communicating messages from the president & CEO, becoming a signatory to the Women’s Empowerment Principles (WEPs), and holding luncheons with executives and female employees as part of efforts to support the career development of women.
Holding Unconscious Bias Training
In FY2023, Mitsubishi Estate held unconscious bias training for all employees based on the results of the attitude survey outlined on the left to further instill opinion diversity. In each business unit, employees watched a video and engaged in discussions. In a post-training questionnaire, 99% of respondents stated that they understood the concept of unconscious bias.
Future Direction
Holding an Engagement Survey
Although we already monitor and disclose employee satisfaction levels (the proportion of employees responding in the affirmative to a question in the in-house, employee questionnaire, asking if they find their work rewarding), we plan to hold an engagement survey in FY2024 to identify organizational and individual issues in greater detail and implement measures aimed at ensuring that all employees work “As One Team.”
Personnel Evaluation System
Mitsubishi Estate conducts two types of personnel evaluations: MBO (Management By Objectives) and behavioral evaluation.
MBO is conducted once every six months, and targets for each job are set in advance by the employee and the primary evaluator, and the actual degree of achievement is evaluated.
Behavioral evaluations are conducted once a year to assess the degree of fulfillment of the five traits, and elements we seek within each trait defined for each grade ("People with vision," "Professional People," "People with Integrity," "People with Team-Building Skills," and " People with a Passion for Taking On Challenges and Innovation").
MBO and behavioral evaluations are graded by the evaluator, primary evaluator, and secondary evaluators and will be linked to bonus and salary.
The results of the evaluations along with expectations of the employee are communicated by the evaluator during the semi-annual feedback meeting.
Initiatives for Human Resource Development>Human Resource Development Programs
Initiatives for Human Resource Development
Human Resource Development Programs
Mitsubishi Estate provides a range of training to recognize positions according to the growth stage and develop the skills of employees. The company supports individual growth through provision of programs such as joint Group training for new hires and newly appointed managers and skill development programs to help individual employees acquire the knowledge and skills they need and to encourage independent and self-directed study.
Offering a Wide Range of HR Development and Training Programs
Offering a Wide Range of HR Development and Training Programs
The Mitsubishi Estate Group carries out a wide range of training programs to develop employees' capabilities and raise their awareness about compliance and human rights.
In addition to basic skill development programs, Mitsubishi Estate has established a range of elective skill development programs that give employees the opportunity to choose at their own initiative.
Internship Program
Internship Program
Mitsubishi Estate runs an internship program to help interns understand the nature of the job and the industry.
Mitsubishi Estate Group-Wide Training
Mitsubishi Estate Group-Wide Training
- New recruit training/New recruit follow-up training/Self-care training
- 2nd Year training/3rd year training
- Joint time management training
- Marketing
- Presentation training
- Logical thinking training
- Practical coaching training
- Business law training
- Financial affairs & Accounting training
- New manager training/New manager follow-up training
Global Human Resource Development Initiatives
Global Human Resource Development Initiatives
As part of the Global Basic Skill Strengthening options to develop human resources capable of thriving on the global stage, Mitsubishi Estate provides programs such as short-term overseas language training and has introduced a system to subsidize second-language studies. Additionally, under the Global Business Skills Strengthening option, employees can take part in a training system where they gain practical experience at Group companies in the U.S., the U.K. and Asia. There are also study-abroad and business school programs available so they can develop the capabilities needed to perform in a global environment.
In addition to medium and long-term dispatch programs, there is also a lineup of short-term programs lasting approximately one month, making it easy for employees who are unable to leave the workplace for long periods of time to participate. Moreover, internal debriefing sessions are held after the training so that results and lessons can be shared widely with other employees, helping everyone see how a global mindset is relevant to their own work.
Mitsubishi Estate will continue to augment its training programs in and outside of Japan to ensure that they are useful to and available to employees in a wide range of positions.
Consultations for Career Development
Consultations for Career Development
At Mitsubishi Estate, employees set goals for their own work, their contributions to the organization, and their skill development. They then review their achievements every six months via management by objective (MBO) consultations with supervisors. They also confirm the evaluation of their performance in these consultations, and salary changes are decided based on the results of these appraisals. The company also holds human resource consultations with every employee (with the exception of Level 3 management career employees and re-employed contract employees), aiming to solicit their views and requests of the company as well as to promote skill development.
Utilizing Human Resources and Organizational Data and Information
Utilizing Human Resources and Organizational Data and Information in Developing Recruitment Strategies
We analyze the number of applicants for each recruiting channel and the number of pages viewed on our recruiting website, and conduct recruiting activities while exploring more efficient ways to disseminate information to candidates.
We conduct our recruiting activities by considering the channels through which we can approach candidates with the necessary skills and experience.
We analyze the results of aptitude tests taken by candidates at the time of entry into the main selection process, and use the results in our recruitment activities for the following year and beyond.
Conducting Periodic Employee Surveys to Analyze Conditions and Trends of the Company and Each Department
Once a year, we conduct a periodic employee survey on job satisfaction, openness of each department, and the status of operational efficiency.
Based on the survey results, we analyze the characteristic trends by department, branch, or position and grade to improve workplace environment and corporate culture.
Consolidation and Utilization of Information on Human Resource Based on Management Strategies
We formulate personnel allocation plans that considering the number of employees, skills, etc. required, each department's job description, job characteristics, and plans, as well as company-wide management strategies.
In addition, we strive to promote and enhance performance of diverse individual employees by consolidating and utilizing employee information (assignment and job history, experience, career aspirations, etc.) through our personnel system and periodic personnel interviews.
