Orico's Growth StrategyFrom a Management Perspective Orico's Human Resources Strategy
In an era marked by diversifying values and lifestyles among the working population, we believe it is essential for the Company to align closely with each and every employee. We will strive to cultivate a relationship where employees and the Company can grow together, and we aim to build an organization where all members can flourish in their own unique way through their work.
Managing Executive Officer
Head of Human Resources & General Affairs Group Hideyuki Matsuoka
Formulating a Human Resources Strategy to Achieve Transformation by 2030
Our human resources strategy is geared towards achieving our visions for our society and of the Company by 2030. Taking into consideration the global trends in human resource strategies, our past initiatives and challenges related to human resources, personnel characteristics, and reorganization of human resource systems and organization management, we have developed a strategy that captures the very essence of our organization and human resources from a medium- to long-term perspective.
In devising this new human resources strategy, we identified three necessary prerequisites. First, amid a declining labor population, workers increasingly see companies as a platform for growth and realizing their core values, so it is vital to establish an organization that appeals to and retains employees. Second, in our medium-term management plan launched in 2022, we aim for a radical transformation of our business, organization, and processes, and the human resources strategy must serve this transformation, not merely extend previous practices. Third, during the transformation process, change must go beyond mere alterations to systems and structures. A reform in the thoughts and behaviors of executives and employees is indispensable, with a strong emphasis on fostering such behavioral changes.
For our desired talent profile, we took the time to not only prepare for future changes, but also identify the strengths our employees should retain and areas that require enhancement, incorporating the views of the Directors and conducting extensive discussions with a wide range of organizational stakeholders. The Human Resources Management Policy has been redefined as the Company's commitment, encouraging and supportingreform of the mindset and behavior of the employees.
A Radical Departure from Conventional Thinking: Our Human Resources Basic Policy and the Direction of Our Human Resources Strategy
This approach underpins our human resources strategy, whose core premise is to transform the relationship between employees and the Company into a mutually chosen (Win-Win) partnership. We have identified 11 areas that require change and formulated our Human Resources Basic Policy, which consists of our desired talent profile and Human Resources Management Policy.
Creating a Diverse Workforce and the Human Resources Infrastructure to Support It
We define what we envision through our human resources strategy as to “maximize employee engagement by establishing a mutually beneficial relationship where the Company and employees can grow together (Win-Win relationship)”, and the two pillars essential to achieving this are our desired talent profile and our Human Resources Management Policy. To bring these principles to fruition, we have outlined two key practices:
1 Creating a Diverse Workforce
Becoming an organization where individuals with unique qualities can thrive
To transition the relationship between the Company and its employees into one characterized by a mutually chosen (Win-Win) partnership, it is crucial to leverage individual characteristics more effectively. We are committed to enhancing career support that motivates each individual to grow and develop their strengths, including providing opportunities for skill development and career-related challenges; accelerating the promotion of executives from various backgrounds, including women, and with various personalities; and focusing on the acquisition, development, and promotion of specialized talents essential to creating new business.
2 Creating a HR Foundation for the New Era
To a system and operation of evaluation, treatment, and training employees appropriate for the future Orico
We are fundamentally transforming the Company's human resources system and structure. The Company will assist in shaping the career paths of each individual to align with their life plans, and as a part of this initiative, we will abolish transfers requiring unwanted relocations from April 2025 onward. Additionally, key areas of focus will include transitioning from age and skill-based criteria to a new human resources approach centered around work and missions, reassessing evaluation criteria in line with our desired talent profile, introducing multifaceted evaluations, and actively engaging in the development of core talent to lead future generations. As a foundation for these measures, we will continue to invest in health management, ensuring that our employees maintain both physical and mental well-being and can fully leverage their capabilities on the job while enjoying a vibrant life both personally and professionally.