Human Resource Development at the Cosmo Energy Group
The Cosmo Energy Group regards human resources as a form of management capital and recognizes the importance of maximizing their value. Based on this understanding, we have established the Human Resources Policy to serve as our basic approach to achieving this end.
We understand that human resources are the source of enterprise value creation. To facilitate required transformations, the Group has defined four elements—diversity, autonomous and proactive, growth mindset, and digital transformation (DX) literacy—and is pursuing a people strategy that motivates employees and harnesses their skills. This strategy will enable our employees to achieve daily growth and demonstrate their full potential in the energy industry as it undergoes a period of transition.
We are working to develop human resources in order to simultaneously take on the challenge of entering new business fields and transform existing ones. We aim to build a pool of self-driven individuals with diverse perspectives who continuously challenge themselves, ensuring the growth of both employees and the Company itself.
Human Resource Development Aligned with Our Management Strategy
By developing the human resources necessary to realize our management strategy and placing the right people in the right positions, the Cosmo Energy Group aims to make the most of each employee’s contributions.
Cosmo Human Resource Requirements
In order to realize Vision 2030, we have articulated what we expect of all Cosmo personnel in three key phrases: "Take on challenges," "Nurture your career," and "Excel at work."
We are developing strategic human resource policies and related measures based on these three requirements, and we fully recognize employees that demonstrate these characteristics.
Human Resource Strategy Committee
In order to further integrate our people and management strategy, the Human Resource Strategy Committee, comprised of top Group executives, meets regularly to deliberate and advance human resource strategies. To enhance oversight, the outcomes of these discussions are periodically reported to the Executive Officers’ Committee and the Board of Directors.
| Frequency | ・ 2 or 3 times a year |
|---|---|
| Committee members | ・Representative Director and Group CEO, Cosmo Energy Holdings (Chairperson) ・Senior Executive Officer in Charge of Human Resources, Cosmo Energy Holdings ・President and Representative Director, Cosmo Oil ・President and Representative Director, Cosmo Oil Marketing ・President and Representative Director, Cosmo Energy Exploration & Production |
| Matters for deliberation | ・Reports on the implementation status of human resource strategies, human resource allocation policies, and policies for developing executive candidates, etc. |
Cultivating Management Personnel
We are identifying and nurturing management candidates as successors to our executive leadership team. This involves implementing training programs, including external assessments and assignments, and fostering competence development through challenging assignments, including appointing candidates to key positions within the Group.
Succession Planning
We have developed job descriptions and a successor list for department head-level positions and regularly assess progress in terms of successor readiness. We are also actively implementing initiatives such as talent development, internal transfers, and external recruitment to ensure a sufficient talent pool.
Promoting Self-Directed Career Development
We encourage employees to take the initiative in developing their careers in order to foster a talent pool of individuals who take independent action to improve themselves and achieve their growth aspirations. In particular, we have designated September to October as the “Kyari-tsuku (Career Development)”* period, creating opportunities for intensive self-growth and health enhancement aimed at strengthening career development.
*Refers to the process of creating a fulfilling career by deeply understanding and reflecting on oneself, learning and researching what is meant by career and health, engaging in discussions about the future with supervisors, and striving for personal growth and better health.
Raising Awareness of Career Development
Career Guidebook: Navigating Your Career at Cosmo
We published the in-house career guidebook Navigating Your Career at Cosmo, which broadly introduces the operations and required skills of each department.
In an ever-changing environment, we aim to provide the information necessary for employees to envision their future self and map out their own career trajectory.
Job Challenge System
This system enables employees to directly approach their human resource division to express how they would like to contribute within the Cosmo Energy Group and request transfers to their preferred departments. We aim to empower employees to proactively and enthusiastically develop their skills and hone their specialization to progress along their envisioned career paths.
Selection and Application for Course Best Suited to Own Career Goals
| FY2021 | FY2022 | FY2023 | |
|---|---|---|---|
| Number of employees who requested a transfer | 26 | 27 | 34 |
| Number of employees transferred as requested | 10 | 18 | 17 |
| Transfer rate | 38% | 67% | 50% |
Note: Cosmo Oil employees
Career Declaration System
We leverage our career declaration system as an annual measurement tool to encourage employees to take the initiative in developing their careers.
The system motivates employees to approach their work with even more enthusiasm and continue to learn by taking an inventory of their own capabilities, experience, and skills, reassessing their medium- to long-term career goals, and discussing these with their supervisors.
Provision of Self-Development Opportunities
To support employees’ voluntary learning aspirations and promote self-directed learning, we fully subsidize the cost of correspondence courses taken for self-development purposes. We also utilize the online learning platform Schoo as a new self-development tool designed to broaden interests and help employees feel more comfortable learning.
Number of Correspondence Course Participants
| FY2021 | FY2022 | FY2023 | |
|---|---|---|---|
| Number of correspondence courses | 217 | 217 | 218 |
| Number of correspondence course participants | 278 | 237 | 312 |
*Note: Cosmo Oil employees (including seconded employees)
*Fiscal 2023 figures include correspondence course partcipants (181 people) and Schoo users (156 people)
Training System
Fiscal 2023 Training Data By Rank
| Target | Training name | Participants | Training hours/person |
|---|---|---|---|
| Management level | Department head training | 42 | 13.0 |
| Line manager training | 420 | 8.0 | |
| New line manager training | 33 | 21.0 | |
| OP5 grade training (section chief) | 19 | 14.0 | |
| Non-management level | Team leader training | 75 | 14.0 |
| New S4 grade training | 48 | 14.0 | |
| New S3 grade training | 52 | 14.0 | |
| Training for on-the-job trainers | 39 | 15.0 | |
| New S2 grade training | 48 | 14.0 | |
| OP4 grade | 42 | 14.0 | |
| OP3 grade | 30 | 14.0 | |
| OP2 grade | 50 | 14.0 | |
| OP second year training | 38 | 7.5 | |
| OP new employee training | 42 | 37.5 | |
| Second year training | 29 | 14.0 | |
| General training | Training for mid-career hires | 84 | 4.0 |
Notes:
1. In addition, the Company provides support for remote/online education to all employees and support for acquiring current job-related qualifications.
2. Cosmo Oil employees (including seconded employees)
Compensation System
Compensation for those in managerial positions is handled according to a grading system. Promotion to line manager is based on ability and achievements. Senior employees aged 60 and above are also compensated according to their assigned roles, without an arbitrary change in the compensation they were receiving before reaching retirement age. As employee values and attributes become increasingly diverse, the Group seeks to boost employee motivation and job satisfaction by respecting this diversity, striving for fairness in compensation among employees and rewarding those employees who have demonstrated their abilities to the fullest in terms of the roles, responsibilities, and targets they were assigned.