Chapter 4: The ‘Future Leaders’ Approach
This is a summary of the discussions the Third Way Forum had with three groups of future executives within Japan’s automotive, manufacturing, consumer and entertainment industry. The groups were mixed among the five participating companies in order to combine a large base of insights. Each group presented a summary that describes the challenges, the solution approach and finally the actions needed to realize the proposed solution. The groups were mixed among the five participating companies in order to combine a large base of insights. Each group presented a summary that describes the challenges, the solution approach and finally the actions needed to realize the proposed solution. We summarize the discussions with the Third Way Forum.
Group A – Global Markets
Question: A Global Market Requires New Global Expertise
Challenges
The Japanese population is in severe decline with a low birthrate and a significant, continual increase in retirees, which results in a decrease in key consumer groups that, in turn, means a severe downturn in business in Japan and a decrease in Japanese companies’ competitiveness.
Highly qualified, non-Japanese employees can counter those disturbing trends by increasing diversity, thereby increasing innovative opportunities, broaden business knowledge and expand expertise.
But non-Japanese have some major concerns, such as no clear reasoning for being hired, no clear career path, and cultural differences that can lead to misunderstandings and poor performance because of language differences and company methods of operations.
Solutions
How can Japanese companies attract and retain non-Japanese talent?
The company must build a robust, step-by-step HR plan around career development opportunities and set communication rules to remove the cultural barriers. The company should also focus on “Transparency” & “Clarity” in the workplace by clearly defining a company’s vision, missions, and values. The company, too, has to define communication rules at the corporate level, team level, and the individual.
Actions
The company needs to take immediate and continuing action in order to fulfill the goal of being a global entity. The company can do this by integrating “Diversity” into the corporate culture through training programs. The company should also immediately create detailed job descriptions, thus assuring the right person for the right job. Directly connected is a transparent career development that concisely and clearly chart out a potential career path for each employee. In addition is a global rotational program for both Japanese, and non-Japanese managers, which results in a much more diversified workplace.
Group B – Diversity in Teams
Question: Does diversity empower teamwork?
Challenges
Diversity serves to empower a team, and therefore, empowers the company. A good company has 3 core values of openness, clearness, and trustfulness.
Non-Japanese workers indicated the Japanese business