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Mori Hills REIT Investment Corporation TSE Code:3234

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【H1】Sustainability

Social Initiatives

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Initiatives with Employees

Initiatives with Employees

Policy and Approach

Problems concerning human rights and labor have become global issues and, in Japan, the rectification of long working hours and the promotion of women and elderly people have become significant social issues as the labor force shrinks alongside a declining birthrate and aging population.
  
We believe that employing diverse and excellent human resources and supporting the continued development of their abilities is not just a source of competitiveness for the company but also the duty of the company towards its employees.

MHR and MIM respects human rights and it is our policy to not discriminate against employees based on their beliefs, religion, age, gender, origin, mental and physical disabilities, etc.

We will work to establish a diversity-oriented working environment where our human resources can be effective. We will introduce multifaceted systems and measures so that each and every employee with diverse lifestyles and values can maximize their abilities and continue their career in healthy and safe manner as they grow.

Talent Development Policy/Program

Policy and Approach
In order to realize MIM's company mission (“MIM is dedicated to the creation and development of major metropolitan cities and MIM will provide investment opportunities in high-quality urban assets to investors both in Japan and overseas as a leading professional in the real estate investment fund business.”), MIM believes that it is essential to attract and retain a diverse and capable workforce and to continuously support their career growth and self-development.
To cultivate human resources with flexible thinking and high ethical standards together with a high degree of expertise, mainly in real estate and finance, MIM introduces essential knowledge and skills through on-the-job-training (OJT) and conventional training.
In addition, in order to improve staff effectiveness, to clarify company issues and to constantly improve management methods, MIM conducts a semi-annual staff assessment program - "Personnel Assessment and Feedback" as a core component of our talent development strategy.
Talent Development Program
To allow employees to step up and grow steadily and continuously improve their capabilities as an employee of the Asset Management Company of a J-REIT, MIM established a clear image of "a position to aim at each hierarchy" with “assumed image and eligibility requirement”.
In addition, MIM constructed a series of programs to realize that growth.
<Model of talent development policy>

① On-the-Job-Training (OJT)
The basic principle of OJT within MIM’s human resource development strategy is to establish appropriate goals and work habits in the course of daily business operations, to communicate core job specific support, and to improve the overall knowledge and ability of each person.

② Study and Training
MIM conducts training in accordance with the roles and abilities of employees to acquire the knowledge and skills necessary for further life-long, career growth.
MIM also has a subsidy system for qualification acquisition. (Refer to "Training programs and subsidy system")

  • Employee capacity development training time: Total of 12 hours per person (2017)
③ Personnel Evaluation, Feedback and Variable Pay Compensation
MIM believes that feedback is an essential process to promote the fulfillment of each employee’s talents and potential. MIM seeks to concretely convey the problems and remedial measures discovered during business activities through a process of regular communication with employees.
Personnel evaluation consists of "performance evaluation" which evaluates the degree of achievement for goals set semi-annually, and "capability evaluation" which is conducted from various perspectives that evaluate the compliance adherence and the efforts towards ESG Evaluation.
Managers providing the evaluation and the director in charge discuss the feedback thoroughly beforehand in order to deliver precise, objective and actionable guidance to employees.
By clarifying the improvement points on an individual basis, MIM intends to improve employees’ ability.
Employees are promoted based on personnel evaluation. Variable pay compensation is rewarded annually based on satisfying clearly defined criteria.

<Training programs and subsidy system>
MIM also has a subsidy system for various training and qualification based on experience and linked to personnel evaluation aspects.

 

Compliance, ESG training
The training is conducted to improve knowledge and ability of various themes that are fundamental to society, such as compliance, environment, human rights, diversity, etc. to handle the business as a member of society.

Real estate / financial training
A lecturer explains the latest real estate and financial market trends along with future prospects, etc. by utilizing various data and facilitating a question-and-answer session and group discussion.

Various ability improvement training
This training utilizes external organizations based on experience to improve various abilities (logical thinking ability, explanation capability, etc.) linked to personnel evaluation items.

Investor Relations (IR) training
IR is recognized as an important task for a listed investment corporation. Therefore, MIM provides a lecture to selected members of senior management on presentation skills and the model answers for anticipated questions.
To prepare for IR activities, MIM conducts drills to master necessary skills through a simulated IR meeting.

Leadership training for General Managers
The leader's ability to oversee each department creates an extremely large influence on the performance of the entire company, therefore, MIM conducts the training session for General Managers about "Managerial knowledge as a leader", "Labor management", "Plan formulation, task setting and execution" and "Guidance training of subordinates". These training includes the use of external institutions to deepen knowledge and understanding and make use of it in business execution.
Next-generation management training
With the CEO acting as a lecturer and a facilitator, the General Managers brainstorm the prospects for various management tasks and economic and financial scenarios.

Subsidy System for Qualifications
In order to improve employees' skills as professionals in the real estate fund business, MIM subsidizes the expense for acquiring licenses and qualifications by public and private organizations necessary for work.
Breakdown of qualifications held by employees as of the end of August 2019 is as follows:
  • ARES Certified Master: 7
  • Real Estate Appraiser: 3
  • Real Estate Transaction Agent: 9
  • Certified Building Administrator: 4
  • Real Estate Consulting Master: 1
  • CASBEE Accredited Professional for Real Estate: 1
  • Certified Public Accountant: 3
  • Chartered Member of Securities Analysts Association of Japan: 1
  • Certified Internal Auditor: 1

Benefits and work/life balance

Survey of employee satisfaction
MIM conducts the employee satisfaction survey once a year for all MIM’s employees to realize a more comfortable workplace environment by understanding the employees’ awareness of work and the current situation of the working place. MIM anonymously collects responses for questionnaires such as "Sympathy for management philosophy", "Meaning and challenge of work", "Human relationships and atmosphere at the working place" etc. MIM gives feedbacks on the results to all employees and efforts to enhance degree of satisfaction by implementing policies.

  • Employee satisfaction: 3.5 points (2018)

※Average of all questionnaires in a 5-point full mark

Grievance Reporting
Through twice a year interviews between the CEO and employees, we provide counseling on career paths and the working environment, listen to improvement suggestions, and accept grievance reporting.
We respond promptly to all suggestions and grievance reporting offered in the interviews by discussing with the relevant parties and consulting with other management and if necessary promptly escalating matters to appropriate personnel and taking required action.
Beyond these twice yearly interviews, if an employee has an urgent improvement suggestions or grievance reporting, at any time the declarant also has the opportunity to select either the supervisor, the General Manager of General Affairs or the CEO according to the content, and the supervisor or the General Manager of General Affairs who received the declaration has a mechanism to report the declaration to the CEO.
We have established a Whistleblower Protection System which allows all employees to report directly to external attorneys regarding acts that violate laws, internal rules, action principles and other acts that may be contrary to corporate ethics etc.
Employee Stock Ownership Plan (ESOP)
MHR established the "Employee Stock Ownership Plan (ESOP)" by aligning interests of MHR’s investors and MIM’s employees aiming to improve unitholders' value over the medium to long term, and to improve welfare benefits for MIM’s employees.
Special Leave System
In addition to annual paid holidays, MIM offers a special leave system (Season vacation system).
MIM offer an Expired annual paid holidays reserve system.
Child-care Leave System

MIM is promoting compatibility between employees' child-care and work by providing leave systems etc. for employees' childcare.

  • Child-care leave systems
  • Child-care leave allowance
  • Spouse maternity leave system
Child-care Short-time Work System
Employees living with and raising children until the end of the third year of elementary school can shorten their daily working hours.
Care Leave System
Employees are able to take care leave for family members in need of nursing care.
Flexible time system
We have established a system that allows each employee to flexibly set the time of start and end of work within a certain range according to their convenience and particular lifestyle needs.
Promotion of paid holiday acquisition and overtime work reduction
We promote the acquisition of paid holidays and the reduction of overtime in order to improve employee's work/life balance and be cognizant of employee's health.
We constantly take into consideration the pervasive social dynamics while at the same time making thorough efforts to improve work efficiency.
Paid holiday acquisition rate Monthly overtime hours worked/employee
Year 2015 90.1% 10.7 hours
Year 2016 95.1% 11.3 hours
Year 2017 100% 7.7 hours

Safety and Health Management
Safety and health management regulations are set up and a plurality of qualified persons such as hygiene promoters and fire and disaster prevention managers are placed in the company to establish a system for employee safety and health management with regular inspections at normal times and ensuring safety when there are emergencies.
Health Checks
We conduct health checks once a year which cover more than the number of items legally required.
In addition, the MB Group has a system that allows employees to consult with resident health care professionals on diagnosis results and mental health, etc. at all times.

Promoting Respect for Human Rights and Diversity

Respect for Human Rights
In MIM's "Our Principles of Action," we stipulate respect for human rights as well as forbid discrimination and harassment.
We also stipulate prohibition of forced labor and prevention of overwork and child labor in the working rules. We respect human rights and it is our policy to not discriminate employees based on their beliefs, religion, age, gender, origin, mental and physical disabilities, etc. We believe that establishing a working environment where diversity-oriented human resources can be active will lead to improved business performance and contribute to social development, and for this reason we will work to formulate such an environment.
Labor-Management Relations / Collective Bargaining Agreement

We acknowledge the basic labor rights such as freedom of association and the right to collective bargaining stipulated in MIM's Working Rules, etc. Although note that at this time no labor union has been formed at MIM. Labor-management relations remain positive, and we have never implemented large-scale dismissals, nor have we experienced any merger or acquisition activity and accompanying restructuring.

In addition, MIM has concluded Labor-Management Agreements (36 Agreements) on overtime work with employees, and strives to support employees’ well-being and improve labor productivity by managing working hours appropriately.

Promoting Women’s Participation

We are aiming for a workplace environment where each employee can fully demonstrate their individuality and abilities and we are working on creating a pleasant working environment for women.
A child-care leave system and flexible working hours are provided and we promote active use of a short-time work system and paid holidays.

(MIM's data as of the end of fiscal 2017)
  • Percentage of full-time employees among all employees: 100%
  • Percentage of female employees: Approx. 30%
  • Percentage of female managers: 0%
  • Average number of years of employment Female employees: Approx. 6.5 years; Male employees: Approx. 7.2 years
  • Number of female directors: none

Personnel Data

  No. of executives and employees Male Female Rate of female   No. of newly hired Male Female Rate of female No. of resignees Rate of resignees
Year 2014 20 15 5 25%   2 1 1 50% 3 15.0%
Year 2015 19 14 5 26%   2 1 1 50% 0 0.0%
Year 2016 21 15 6 29%   3 2 1 33% 2 9.5%
Year 2017 22 16 6 27%   1 1 0 0% 1 4.5%

※Number of executives and employees as of the beginning of the fiscal period.
※Rate of resignees is calculated by dividing the number of resignees by the number of executives and employees.

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