Human resources strategy
In order to realize the tenets of Mizuho's Corporate Identity, we have established an HR Vision to encourage all employees to take initiative and develop themselves.
Mizuho Financial Group firmly believes that the personal development of individual employees contributes to the stable and sustainable growth of Mizuho as a whole.
Mizuho recognizes those employees who make an effort to put the Mizuho Values into practice and helps employees to create a more fulfilling life through their work.
- Mizuho encourages employees to utilize their strengths, and provides opportunities for them to use their skills and to develop their abilities.
- Mizuho encourages employees who differ in terms of gender, country of origin, cultural background, and values to understand, respect, and inspire each other.
- Mizuho works with its employees to create a corporate culture that encourages people to be passionate about and to take pride in their work.
One of the basic policies in our medium–term business plan is to "embed a corporate culture that encourages the active participation of our workforce to support a stronger Mizuho". With this in mind, we are working towards achieving a competitive advantage for Mizuho in terms of our workforce by implementing fundamental reforms in HR management.
Fundamental reforms in HR management
Our fundamental reforms in HR management are aimed at enabling us to continually enhance employee engagement, ensuring that all employees can achieve continual growth, reach their full potential, and enjoy long and fulfilling careers at Mizuho. As we implement each of the key strategies under these reforms, we are seeking to move away from traditional "one–size–fits–all" HR management and the inflexible promotion system based on the year one joined the company. Our focus is on drawing out the capabilities of each individual and motivating them to reach their full potential.
In order to clearly communicate to all employees and executive officers the principles that will be applied to Mizuho's HR strategies, HR systems, and HR management, we established "Mizuho's HR Policy". Additionally, we released a "Diversity and Inclusion Statement" to affirm our commitment to promoting the professional growth and active participation of our diverse workforce. Both of these documents have also been made publically available.
- 1.HR management that respects employees' individuality
- ■Development–focused HR management aimed at enhancing employees' strengths
- ■Multi–track HR management that responds to the career goals of a diverse workforce
- ■Promoting the health and wellbeing of employees and maintaining a healthy work environment
- 2.Strategic employee rotation
- 3.Development of future executive leaders
- 4.Globalization of Mizuho's talent and HR management
- 5.Promotion of diversity and inclusion
- Mizuho's HR strategies and employee satisfaction
- 1.Average response on a scale from 1 to 5 in the category of "satisfaction with the company" on the annual Staff Survey.
- 2.From fiscal 2017 the calculation method has been changed—results from past years are calculated using this new method retroactively.
Primary initiatives in fiscal 2017
We have continued to implement and enhance a number of initiatives for promoting HR management which respects employees' individuality (development–focused HR management), future leader development programs, strategic development of female employees, and diversity and inclusion. Additionally, from fiscal 2017 we have enhanced our efforts to provide multi–track HR management, for example by providing more opportunities for employees on fixed–term contracts. We have also promoted the globalization of our talent and HR management, accelerated initiatives under the Japanese government's "Work Style Reforms" such as remote work options, and strengthened employee health and wellness management.
HR management that respects employees' individuality
We will transition to a more development–focused HR management which focuses on the inherent qualities of each individual and develops their strengths by encouraging them to proactively take on challenges.
We will seek to bring out each diverse individual's potential through work experience which is beneficial based on their inherent qualities, evaluating employees based on the growth in their abilities rather than results alone, ensuring that employees have opportunities for dialogue with their supervisors regarding their career path and that they receive sufficient feedback, providing growth opportunities through job rotations and professional development seminars, and ensuring that promotions are not denied based solely on an employee’s number of years at the company or years of experience.
A development seminar
Strategic job rotation
Through job rotations across in–house companies, units, and entities we develop employees strategically in line with both their individual career aspirations and their potential to lead our business strategies.
Development of future executive leaders
High potential employees are identified and selected from a diverse pool of candidates on a group–wide and global basis, and their leadership capabilities (what we categorize as "ability to initiate", "ability to achieve", and "integrity") are strategically developed through executive leader development programs. We seek to cultivate leaders who can define and articulate Mizuho's future vision and direction, corporate identity, and strategies; and who can drive growth and change, without being bound by precedent; and who do not give up when faced with a variety of difficulties or crises, but instead tackle them head–on and mitigate risk and damage to the organization.
- Overview of Mizuho's Executive Leader Development Program
Adopting Japan's Work Style Reforms
By encouraging the use of more flexible work arrangements such as flextime and staggered working hours, we were able to reduce overtime work hours by 10％ over the past two years (compared to fiscal 2015). Additionally, we are aiming to increase productivity by providing more flexibility in terms of where employees work. Around 1,300 employees are using our remote work system, an increase of 1,000 compared to the previous fiscal year.
We are also focusing on initiatives for eliminating overwork, and as a result the percentage of employees in any given month who worked more than 60 hours of overtime decreased from 2.9％ to 1.7％ (annualized) compared to the previous fiscal year. Also, we are working with industrial physicians to develop more detailed labor management practices.
Promoting employee health and wellness
By promoting employee health and wellness, we are aiming to enhance the performance of each individual and increase the productivity of the organization as a whole. We are working to cultivate a healthy work environment and to promote employee awareness regarding health, for example by providing subsidies that encourage employees to undergo preventative health checks. In fiscal 2017, 99％ of employees took an annual medical exam and 94％ took a stress assessment. Additionally, Mizuho was recognized under the 2018 Health & Productivity Stock Selection based on having put in place a number of strategies, including those aimed at reducing overtime work and preventing and controlling lifestyle diseases.
|Mizuho was selected under the 2018 Health & Productivity Stock Selection, which is jointly administered by the Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange.|
Diversity and inclusion
Numerical targets (MHFG, MHBK, MHTB, and MHSC)
|Area||Initial target||Current||Numerical target (to be achieved by)|
|Percentage of management positions filled by employees hired outside Japan||33％||July 2016||43％||FY2017||50％||July 2019|
|Percentage of management positions filled by women||7％||9％||10％|
|Area||Initial target||Current||Numerical target (to be achieved by)|
|Percentage of management positions filled by women||General manager equivalent||3％||July 2016||5％||July 2018||10％||July 2019|
|Manager equivalent and above||10％||15％||20％|
|Supervisor equivalent and above||22％||27％||30％|
|Percentage of new graduates hired for management track jobs who are female||34％||FY2016 intake||36％||FY2018 intake||30％||FY2019 intake|
|Percentage of paid annual leave taken by employees||64％||FY2015||73％||FY2017||70％||FY2018|
|Percentage of eligible male employees who take childcare leave||1.5％||79％||100％|
|Percentage of employees who are individuals with disabilities||2.2％||March 2016||2.2％||March 2018||2.3％||June 2019|
- *total for the above noted 4 companies
We aim to proactively incorporate the ideas and opinions of our diverse workforce into our everyday work, strategic planning, and decision–making in order to create new value and innovations. We are committed to valuing the voices of women, non–Japanese nationals, individuals with disabilities, individuals who identify as LGBT, employees who are balancing childcare or aging family member care with their work, and other diverse groups. We are promoting diversity and inclusion in order to ensure that each employee can feel motivated and proud to be working at Mizuho and enjoy long and fulfilling careers.
|In recognition of our efforts to promote women's empowerment in the workplace, Mizuho received Nadeshiko Brand designation for fiscal 2017, conferred jointly by the Tokyo Stock Exchange and Japan's Ministry of Economy, Trade and Industry.|
|Mizuho received Platinum Kurumin certification in recognition of our significant efforts to implement and maintain systems that assist workers in balancing work and childcare.|
|Mizuho was recognized on the 2018 Bloomberg Financial Services Gender–Equality Index.|
|Mizuho received the top rating of "Gold" on the PRIDE Index which evaluates LGBT–related initiatives.|
Promoting women's empowerment in the workplace
In order to better support women's career advancement, we are strengthening and expanding our strategic development programs and putting a particular focus on developing women leaders by providing strategic assignments and professional growth opportunities from the early stages of their careers.
Connectivity and employee resource groups (ERGs)
ERGs enable employees to connect across organizational, national, gender, and cultural boundaries and to collaborate while maintaining a strong sense of mutual trust and respect. This results in the sharing of knowledge and experience as well as increased motivation, which in turn leads to opportunities for each individual to achieve professional growth as well as encourages new ideas and discoveries which benefit our business.
Key ERGs at Mizuho
- Mizuho Women's Initiatives Network (M–WIN)
- Mizuho LGBT＋ & Ally Network (M–LAN)
- Mizuho Global Communication & Connectivity Club (MGCC)
- Collaboration, Creation, Relation, Evolution (CocreA)
- A network whose mission is to effect change within Mizuho through co–creation using technology.
Globalization of Mizuho's talent and HR management
Mizuho's business strategies are increasingly global in nature and therefore we are focused on developing global talent and ensuring the right person is in the right position on a global basis by standardizing HR management for all employees regardless of which country they were hired in. In particular we are aiming to accelerate the development and promotion to management roles of employees hired outside Japan as well as provide more opportunities for Japanese employees to gain international experience.
Our HR strategy
Mizuho aims to continuously increase employee engagement, and our HR management is designed to encourage employees to exercise their abilities to their maximum potential, and to continuously expand their capabilities and expertise and enjoy long and fulfilling careers at Mizuho. By ensuring that there are no barriers to advancement and providing equal opportunities to all employees regardless of characteristics such as nationality, ethnicity, gender, or values, employees are motivated to both advance their own careers and contribute to the organization.
As part of the fundamental reforms in HR management which we have introduced, we are aiming to transition away from a "one–size–fits–all" style of HR management and eliminate outdated practices and unwritten rules. Our objective is to implement development–focused HR management which respects employees' individuality and to promote diversity and inclusion as a means of achieving higher engagement in our diverse workforce, particularly for demographics underrepresented in leadership such as non–Japanese nationals and women. We are also strengthening our employee health management which is key to ensuring that employees can enjoy long and fulfilling careers at Mizuho.
Group Chief Human Resources Officer
Approach to structural reforms
In addition to our goals of strengthening our workforce's capabilities as part of the fundamental reforms in HR management, we are also working towards achieving the optimal staffing levels outlined in the structural reforms and therefore, maximizing each individual's productivity is key.
To optimize staffing levels, we will slim–down our workforce in areas where technology and increased operational efficiency has reduced the workload, shift personnel from back office and corporate positions to the front office, and enhance the capabilities of our workforce through professional development and by acquiring talent with the skills required for developing new business fields. These steps will enable us to achieve an optimal talent portfolio.
In order to achieve this, we are fundamentally revising our strategies concerning hiring, development, and long–term employment. In terms of hiring, we will focus on acquiring people with creative thinking and problem–solving skills. Additionally we will strengthen our efforts to acquire talent from STEM backgrounds as well as non–Japanese nationals with the aim of achieving the objectives under the structural reforms related to technology, open innovation, and globalization. As for development, in addition to strengthening all employees' digital literacy, we are encouraging a change in mindsets and a willingness to seek selftransformation, and aiming to facilitate the shift of personnel to front office positions by providing opportunities for employees to develop the required skillsets. We are also expanding opportunities for retraining and offering other recurrent education as a means of supporting long–term employment.
Embedding a strong corporate culture
One of the 10 Basic Strategies set in Mizuho's medium–term business plan calls for continued initiatives toward embedding a corporate culture to support the creation of a stronger organization.
We are working to embed a robust corporate culture, which is indispensable for building a strong organization to realize our aim of being a financial services consulting group.
Our corporate culture is cultivated through the actions of each and every employee based on their awareness of the Mizuho Values. With the One Mizuho Promotion Project Team taking the lead, we are working to encourage the development of a shared understanding of the Mizuho Corporate Identity and our medium-term business plan among all members of the group. Specific activities include strengthening our initiatives at the departmental and branch levels aimed at having each and every employee put the Mizuho Values into practice and promoting stronger internal communication.
Putting the Mizuho Values into practice
All Mizuho offices around the world hold One Mizuho Day at some point in the year to discuss the initiatives they should implement to achieve their individual office visions. Other ways in which we promote dialog are off–site meetings for general managers and executive officer visits to branches or departments. These visits are held in a roundtable format and enable direct discussions between employees and senior management, which leads to a greater sense of unity and higher motivation.
Promoting stronger internal communication
We have put in place a number of initiatives for encouraging communication among employees and fostering a sense of unity. For example, special events exclusively for group employees, the One Mizuho Culture Prize awarded to those who put the Mizuho Values into practice in an outstanding way, and a system for sending thank you cards to other employees which is easily accessible on company tablets and smartphones.