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Forum: Fresh ideas to utilize young and existing talent

Forum: Fresh ideas to utilize young and existing talent

Tokyo (SCCIJ) – At the third Switzerland-Japan Economic Forum, experts discussed experiences and ideas on how to improve the utilization of new and existing business talents in the transformative era of Covid-19 and digitalization. Over 170 people online and on-site attended the forum, which was jointly organized by the Embassy of Switzerland in Japan, the Swiss Chamber of Commerce and Industry in Japan (SCCIJ), and IMD Business School.

Forum: Fresh ideas to utilize young and existing talent

The third Switzerland-Japan Forum took place at the Imperial Hotel Tokyo as well as online.

Transformative synergies

After introductory remarks by Dr. Andreas Baum, Ambassador-designate of Switzerland to Japan, and SCCIJ President Andre Zimmermann, Ms. Naoko Ishihara, Chief researcher of Recruits Works Institute, held the keynote speech to introduce the forum’s theme. Mr. Naoshi Takatsu, Managing Partner, North East Asia, of IMD Business School summarized the discussions at the end of the forum. The forum consisted of two parts – on the one hand, how to achieve transformative synergy with young talent, on the other hand, how to enable business transformation with existing talent.

Dr. Matthias Leuenberger, Country President of Novartis Switzerland, explained that his company has been shifting from hierarchical decision-making to an “unbossed culture”. This means that managers help their employees to succeed without constantly guiding and monitoring them. “This resonates very well with the younger generation because they want a decent work-life-balance,” Dr. Leuenberger said. For example, Novartis introduced 18-week paternity leave for new fathers. Fresh talent would be attracted by such offers, he said.

Ms. Chiharu Takakura, Member of the Board of Directors at Rohto Pharmaceutical, emphasized that a company needs to have a clear objective and to provide value to attract young workers. The management would have to listen to what the members of their organization are thinking about the company and their work. “Hence, it is pretty challenging for Japanese firms that there is no boss around people who work from home”, she stated.

Forum: Fresh ideas to utilize young and existing talent

(from left) Moderator Mr. Dan Slater (The Delphi Network), Ms. Chiharu Takakura , ROHTO Pharmaceutical), Dr. Matthias Leuenberger (Novartis), Mr. Ryo Umezawa (East Ventures), Ms. Keiko Tsuchiya (The Adecco Group Japan)

Reconsider established patterns

Ms. Keiko Tsuchiya, Head of Human Resources at Adecco Group Japan, pointed to the keyword of “unlearning”. What used to be taken for granted, needed full reconsideration. For example, many April entrance ceremonies for recruits were held online. “All managers said that this was impossible but the recruits impressed them,” she said. “The lesson is that we have to unlearn how we have things done before with positive results.” For example, the mass experience of working from home would lead to more communication, more empowerment, and more trust.

Mr. Ryo Umezawa, Principal at East Ventures, recounted his experiences with start-up founders. “They are a lot hungrier than when I was at their age,” he admitted. The word “entrepreneurship” would be spreading in Japan, but the environment provided by the management of an established company would often not support this. “They say we have to innovate but they do not give you responsibility.” He recommended these companies to hand over 10 million yen to an employee with an entrepreneurial spirit and let him or her do anything with the money without any interference.

Forum: Fresh ideas to utilize young and existing talent

(from left) Moderator Ms. Chie Ishiyama, Mr. Raizo Sakoda (Hitachi Academy), Mr. Alain Robert (UBS Wealth Management), Ms. Miki Kanoh (Nestlé Japan), Mr. Mutsuo Iwai (Japan Tobacco)

Technology provides support

Mr. Alain Robert, Vice Chairman, UBS Wealth Management, argued that in the banking industry, the human connection would still be at the heart of the business. “You start a discussion only if you have trust and mutual respect,” he said. Hence, technology would just support dialogue. “This is also a generational issue in our business because money is more with elderly people.” Besides, the wealth managers would be dealing with unusual financial markets and strong regulation which changes the way money is invested.

Ms. Miki Kanoh, Head of Corporate Affairs Group at Nestlé Japan, looked at what kind of changes a company is trying to address. For example, Nestlé wants to improve everyone’s life quality and looks for new business opportunities that improve nutrition and ensure sustainability. “Hence, each employee needs to have ownership”, she argued. “We need a culture where employees have to think and take action for themselves.” This means that employees have to think about the challenges of their company as their challenges.

Adjustment of business practices

Mr. Raizo Sakoda, President of Hitachi Academy, talked about the challenges at Hitachi. Its five sectors enhance infrastructure with digital support. The company would need to have a global outlook because 55% of the workforce is based overseas. Also, the nature of business and the requirements of customers would have changed completely. “For example in the rail business, they order train cars including maintenance”, he said. “Japanese business practices need to adapt to this.”

Mr. Mutsuo Iwai, Deputy Chairman of the Board at Japan Tobacco, explained the “once-in-a-century transformation” happening at his company due to the spread of e-cigarettes. They heat tobacco instead of burning it. Japan Tobacco would now manufacture an electronic device instead of cigarettes. “A completely new technology must be embraced, and the business model has to change with it,” he said. As a result, the employees are unlearning established patterns and are acquiring new skills to market such a different product.

In his closing remarks, Mr. Naoshi Takatsu of IMD Business School summarized the two panel discussions and elaborated on the difficult path the 3rd edition of the Economic Forum had to take amidst the pandemic. “Sharing experiences and perspectives from Japan and Switzerland on business and economic topics of mutual interest will contribute to strengthening the relations and understanding between the two countries and economies, and beyond, to the wider world and societies”, he concluded.

Forum: Fresh ideas to utilize young and existing talent

(from left) Mr. Markus Reubi (Embassy of Switzerland), Mr. Andre Zimmermann (SCCIJ), Mr. Naoshi Takatsu (IMD Business School), Mr. Ivo Kaufmann (Embassy of Switzerland) representing the three organizers of the third Switzerland-Japan Economic Forum.

About the Switzerland–Japan Economic Forum

The Switzerland – Japan Economic Forum is a joint initiative of the Embassy of Switzerland in Japan, the Swiss Chamber of Commerce and Industry in Japan and IMD Business School. The Forum aims at sharing experiences and perspectives from Japan and Switzerland on business and economic topics of mutual interest. It contributes to strengthening relations and understanding between the two countries and economies. The Forum brings together high-level representatives from business, government and academia from Japan and Switzerland.

Text: Martin Fritz for SCCIJ; Pictures: ©Sakurako Kuroda

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