Recap: British Chamber of Commerce of Japan (BCCJ) event

Generation Gap Japan – June 16, 2015

Moderator: Suzanne Price, CEO at Price Global
Panelist: Ken Takai, Business Director in Japan, Hays
Panelist: Karyn Twaronite, Global Diversity & Inclusiveness Officer, EY

Recap by Saya Matsumoto, FEW Ambassador

Millenials as consumers have been a topic and area of interest for many companies and businesses, especially as they take over the market and the workforce. How can companies connect with millenials, what do millenials think about x company product…countless studies and research has gone into this generation.

At the Generation Gap Japan event hosted by the BCCJ on June 16th 2015, we looked at and discussed these same millenials, from another perspective. How companies can attract and retain millenials as part of their workforce, differences compared to previous generations (Baby Boomers, Generation X) as well as focusing specifically on the case of Japan.

EY and Hays have both conducted studies on the workforce around the world, and at the BCCJ event we particularly focused on “millenials” or “Generation Y”: those who were born between 1983 ~ 1995. According to the Hays study they make up 21% of the world’s population (20% of US population and 40% of Japan) and grew up in the digital age. Both studies echoed similar sentiments.

Flexible Working Hours Younger workers today are working longer hours with less flexiblitiy. The EY study found that amongst the six reasons why millennials quit their jobs, three of these reasons were related to lack of flexibility. One of the reasons why millenials place such stress on flexibility may be due to the fact that GenY workers are more likely to be a part of a dual-work couple, compared to older generations.

Diversity Diversity improves responsiveness and adaptability. Businesses are the same as living creatures, we must adapt to change and then we can thrive.

Millenial Women Millenial women are the most ambitious group in the workforce according to EY study, hopefully finds like these will discourage the stereotype of millenials being entitled or difficult to work with.

Japan In Japan, the EY study found that workers have less access to flexibility compared to the other countries in the study, but interestingly the number one reason why Japanese millenials wanted to quit their jobs was due to excessive work hours and lack of mentors/access to role models (in comparison to the other seven countries in the study whose number one reason to quit was stagnant wage growth).

“Reverse Mentoring” A mutually beneficial relationship where a younger employee is paired with an older employee. Not only can the younger person have a role model or someone they can look up to, the older person can also benefit by being exposed to the mindset of a younger employee or contemporary ideas, resulting in a more inclusive atmosphere.

Advice for attracting and retaining GenY workers Money does play an important role for millenials, perhaps as it may be a tangible way for them to measure and see their achievements and success. However Twaronite suggested the importance of offering health and wellness benefits as well as being more results or output focused rather than “face time”. Takai stressed affinity; an increase in social events would be great since, as of now, people are spending more and more time at work.

As part of Generation Y myself, it was refreshing and heartwarming to know that there have been studies made to better understand GenY in the workforce. Anything that crosses generations has its traits and tribulations: different values, mindsets and standards. In the workplace where there are already a variety of dynamics, cross-generational working can be challenging. However ultimately I felt that the wishes and ‘demands’ of Gen Y were not unreasonable or unrealistic, for example flexibility. Perhaps by taking the opinions of GenY into consideration, the working environment could be more innovative, increase productivity and efficiency and overall be beneficial for all, regardless of generation.

Thank you to FEW for the opportunity and to the BCCJ for hosting such a thought-provoking and exciting discussion.

EY Study: “EY Global Generations” (Available in English)
Hays Study: “Gen Y and the World of Work” (Available in English and Japanese)

Further event information and reading list by the British Chamber of Commerce in Japan available at https://www.bccjapan.com/news/2015/07/generation-gap-japan/

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“The best way to find yourself is to be yourself, in the service of others. Every time we give more we will receive more as well. How do we get people there? It’s hard work.”

That’s what Unilever CEO, Paul Polman said when he spoke at the recent British Chamber of Commerce of Japan, which I attended on February 18.

Calculating that we have entered ‘The end of the era of abundance,’ Mr. Polman believes that corporations and their priorities should shift to sustainability — towards providing real benefits to society — and take stock of what the real impact they are having on the world at large is.

He spoke of the following issues, which he said should “bind us, not tear us apart.”

Poverty
“Poverty has crept in to every society. 16% of the population in Japan lives in poverty. Millions in America live below the poverty line. One in five children goes to school without having breakfast, you wouldn’t want that to be your children.”

Climate change
“Let me just ask you a simple question: how many forests can we keep cutting until the forests are gone? How many cities can we keep polluting until the people can’t breathe any more?” He added that Japan had shown “early awareness” on the issue of greenhouse gases. “Japan took the lead, why can’t it take the lead again?”

Geopolitics
“Why do we see so many more geopolitical issues? Why is it so difficult to get people to like each other and work together for the common good?”

The new Asia
Touching on the impact that the rising Asian economy will have on the future, he explained that emerging markets would soon account for the vast majority of the world’s population. This would lead to confused global governments. “The institutions were designed for America and Europe. These institutions are not recognised by everyone.”

The end of the era of abundance
“We are putting enormous constraints on planetary boundaries. We are currently using materials at a rate of 1.5 times what the Earth can sustain.”

Consumer-driven economy
“We have connected the whole world. Now we have to figure out how to make wealth available to everyone. People might not have money, but they do have power

Responsible business

“We need to put a different business model out there. Not a model that is to the expense of our shareholders, but one that is to the benefit of our shareholders and the world in the long-term.”

The Unilever example
“And people want to have a purpose.” He reminded the audience that Unilever had been born out of a need for soap to improve sanitation in Victorian Britain

Trust the young
“Japan needs some people that are willing to stand up and be spokespeople.”

Invest in women
What I feel was particularly relevant to the FEW audience, was Mr. Polman mentioned time and time again the subject of women leaders. His call for female leadership was not just to the Japanese corporations but directly to the women in the audience. He stressed the need to increase diversity and female participation in the workforce in order to boost economic prosperity – in Japan’s case equal opportunities would lead to a 13% increase in GDP. He added that 60% of the world’s farming is done by women, but that women receive only 10% of the money and own 2% of the land, and that this should change: “Invest in your women. Give access to land rights and financing.

I found that his passion and vision was not just for the dream of a better world, but rather it came with practical first steps that we as individuals, as communities and companies, as nations and continents can take towards making a productive future available for our children and ourselves.

Working in the non-profit sector myself, I also certainly approved of his ideas on how more collaboration and synergy can be taken when we understand the respective roles of governments, corporations and the non-profit sector and where each of their strengths lies.

• •          Governments – set up society’s frameworks

• •          Corporations – contribute to technology advancement

•          NPO’s/NGO’s – connect to the ground, fill the gaps

It was fantastically inspiring to see a man at his level in society with the dream, the passion and ideas for real plans and real change. He spoke on connectivity and inspiring the youth to change the world, how being in sync – on all levels is the key to sustainability.

Further, I especially enjoyed hearing his thoughts on ‘businesses with a purpose.’ He asked the crowd, “What are your people (clients & employees) telling you?”. He stated that the role of our “brands” is to positively impact the world. “What problem is your product or service providing a solution to? In short what value are you bringing to the world?”

It was a tremendous treat to be there and listen to his enthusing talk, thank you FEW for the opportunity.

For a full recap on the event, please visit the BCCJ Japan site. https://www.bccjapan.com/news/2015/02/paul-polman/

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