SOMPO’s Purpose Management
Driving Force for Value Creation
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Value creation that originates from My PurposeStarting point of the Value Creation Cycle
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Overview of initiatives to spread the concept of PurposeStarting point of the Value Creation Cycle
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Toward improvement of engagementRoute of Driving Force (Engagement)
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Enhancement of organizational strengths with diversityRoute of Driving Force (I&D)
Value Creation Cycle: Route of Driving Force (I&D)
Enhancement of organizational strengths with diversity
The creation of innovation is essential for realizing SOMPO’s Purpose, and the key to this is inclusion and diversity (I&D). We are promoting various efforts under our belief that innovation is created through collaboration and discussion among human resources with diverse values and skills, including differences in gender, disabilities, nationality, age, and work experience.
Create the ideal group of talents who share the Three Core Values
Alongside “Mission-driven” and “Professionalism,” we have positioned “Diversity & Inclusion” as one of our Three Core Values to be shared by our employees. By fostering an I&D culture in which each employee at each workplace leverages his or her abilities and strengths while mutually accepting others, we will aim to create innovation and realize SOMPO’s Purpose beyond that.
Fostering of I&D culture by sharing My Purpose
My Purpose is the key to spreading I&D. Mutual respect and acceptance of each other’s My Purpose increases the sense of security at the organization and is the foundation for fostering an inclusive culture that welcomes diverse backgrounds and values, such as gender, disability, nationality, age, and work experience. In fact, our internal data analysis confirms that the more My Purpose-based Dialogue is conducted at an organization, the stronger tendency there is for mutual acceptance of diverse values.
●Correlation between “My Purpose” and “I&D”
With the utilization and analysis of various human capital data, including on I&D, we have found that organizations that share My Purpose tend to have a “higher awareness of mutual acceptance of diverse values.” Similarly, we have also confirmed that organizations that have a “higher awareness of mutual acceptance of diverse values” have an “increase in taking on challenges toward achieving My Purpose.”
* Our analysis is based on a survey about engagement aimed at employees of the Sompo Group and conducted by Sompo Institute Plus.
Mechanism to support the realization of diverse forms of My Purpose
●Self-driven career development system
As a mechanism to support the realization of diverse forms of My Purpose, we are promoting self-driven career development centered on job selection led by the employees themselves, including not reassigning employees without their consent and introducing a system whereby employees can run for posts of general manager, section manager, and person in charge. At each Group company, we are discussing and reviewing company-initiated reassignments and transfers as well as expanding the self-driven career development system while taking into account the characteristics of each business.
●Establishment of our in-house online university
Sompo Japan Insurance established SOMPO JAPAN UNIVERSITY, an in-house online university, in October 2020 with the aim of structuring and promoting “self-directed learning” based on My Purpose. Because SOMPO JAPAN UNIVERSITY is an online university, it allows employees to take courses without being restricted by location, time, or current work duties. By providing equal opportunities to acquire various types of knowledge, we aim to foster and establish a culture of studying, taking on challenges, and mutually teaching and learning from one another through diverse human resources.
Acquisition and strategic allocation of diverse human resources
(closing the gender gap, promoting employment of people with disabilities, career recruitment)
We believe that considering a healthy gender balance in corporate management and a workforce composition with diverse backgrounds will eliminate tokenism, strengthen corporate governance, and contribute to sustainable growth through innovation. The Sompo Group has set the numerical targets of having a 30% or more ratio of female managers with influence over management decision-making, and a 2.5% ratio of employees with disabilities. We are advancing initiatives to achieve these targets by April 1, 2024.
The Sompo Group has established succession plans for the Group’s key positions (86 posts in total), including the Group CEO, Group COO, Group CxO, business owners, and other key posts in domestic and overseas businesses. Currently, the ratio of female candidates in the succession plans is 41.9% (as of the end of FY2022), and our goal is to increase it to 50% in the future.
We are also actively engaged in career recruitment, with the main purpose of promoting I&D and acquiring highly specialized talents. Since we began hiring in April 2020, we have hired about 150 mid-career hires, or about 30% of our workforce, over the past three years. We have placed mid-career hires in the respective posts of general manager, section manager, and person in charge. By integrating their strengths with those of each of our existing internal human resources, we have been able to create new value.
Health and Productivity Management® *1 as the foundation for realization of My Purpose
We believe that it is important to maintain good mental and physical health in order to realize My Purpose. The Group regards the maintenance and promotion of employee health as one of the important themes of management. Data related to Health and Productivity Management® (presenteeism, stress checks, etc.) is set as an important KPI in our Human Capital Impact Path, and we are in the process of analyzing its relationship to financial value and Unrealized Financial Value.
| KPI items | FY2020 | FY2021 | FY2022 |
|---|---|---|---|
| Ratio of female managers*2 | 24.2% | 26.8% | 28.1% |
| Ratio of female directors and executive officers*3 | 8.6% | 9.0% | 11.5% |
| Ratio of female candidates in succession plans | 25.4% | 32.4% | 41.9% |
| Ratio of foreign national directors and executive officers*4 | 12.1% | 14.7% | 15.2% |
| Wage gap between men and women*5 | — | — | 67.2% |
| Ratio of male employees who take childcare leave | — | 71% | 75% |
| Ratio of employees with disabilities*3 | 2.42% | 2.41% | 2.36% |
| Number of companies certified as Health and Productivity Management® Outstanding Organizations | 20 companies | 22 companies | 22 companies |
| Productivity indicators connected to Health and Productivity Management® (WLQ) | 93.8% | 93.8% | 93.5% |
*1 Health and Productivity Management® is a registered trademark of Nonprofit Organization Kenkokeiei.
*2 FY2020 figure is as of March 31. Figures for FY2021 and FY2022 are as of April 1 of the following fiscal year.
*3 Figures are as of April 1 of the following fiscal year.
*4 Figures are as of July 1 of the following fiscal year.
*5 Standalone figure for Sompo Holdings.
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