Japan firms in tug-of-war for graduates
tokyo — Graduate recruitment in Japan looks a bit like a scene from The Matrix. Hordes of students dressed in identical black suits and white shirts make the rounds of seminars, tests and interviews. Even as jobs outnumber applicants, these “Agent Smiths” still fight it out for coveted positions at big-name companies, while leaving smaller employers out in the cold.
“Popular firms in industries like finance have seven applicants for one job. For us, we have seven competitors going after one candidate,” said Shuto Kuriyama, who works in human resources at regional furniture chain Shimachu. He was trying to attract students to the company’s presentation at a graduate recruitment fair in Chiba near Tokyo this month, while nearby booths for big-name firms were heaving with job seekers.
The low birth rate and slowly recovering economy are keeping Japan’s job-to-applicant ratio at a 25year high, with the figure at 1.43 for January.
In Tokyo, there are more than two jobs for every applicant. Small companies are the worst hit by the shortage of workers, but even some better-known employers are gradually changing their rigid hiring and employment practices — and some are beginning to consider foreigners. With one of the lowest unemployment rates in the developed world, Japan stands in contrast with Europe and the US, where a lack of good jobs has fuelled support for politicians who want to crack down on free trade and immigration. Only three per cent of Japanese are out of work, compared with 9.6 per cent in the euro region and 4.7 per cent in the US, latest figures show.
Looking for a job in Japan means not only buying a suit and fine-tuning a resume, but learning the elaborate rituals of the nation’s business etiquette, including how to enter a room, bow and sit correctly, and the right levels of polite language to use when speaking to interviewers or clients.
At present, big companies and elite students have exactly seven months to find one another. The hiring season for third-year university students opened on March 1 and major firms will formalise their recruitment decisions by handing out certificates at ceremonies held on October 1. Most major employers
Popular firms in industries like finance have seven applicants for one job. For us, we have seven competitors going after one candidate Shuto Kuriyama, HR officer at Shimachu
will only take on recruits in April immediately after graduation — there are no post-college “gap years” and few second chances.
Polls of the most popular employers among students generally find major banks, trading and insurance companies, travel agents and airlines among the top 10. While large employers offer starting salaries little different from their smaller counterparts, the steeper pay trajectory — at least for men — means a foot in the door promises a far higher mid-life income for those who stay the course. Some also offer benefits like company-subsidised accommodation or resort vacations.
Michiyoshi Aoki, 22, among the 31,000 students at the recruitment fair, said his job search won’t include small companies.
He already has his sights set on the big names in life insurance and automobiles, including Toyota Motor, Nissan Motor and Honda Motor. — Bloomberg