Over 30% of major Japanese firms plan to increase graduate hiring in Spring 2024 compared to this Spring, according to a Jiji Press survey. The number of companies planning to hire more new graduates rose to 36, up by three from the previous year’s survey. Many firms are competing for human resources due to a recovery in economic activity from the COVID-19 crisis, as well as concerns about the country’s declining population and a shortage of information technology personnel. Several companies, including Toshiba and Fujifilm Holdings Corp., plan to increase the number of new graduates they hire next Spring, while only four companies plan to reduce graduate hiring, a drop from nine. The survey also shows that companies are finding it difficult to secure digital transformation experts through mid-career recruitment and are therefore ramping up efforts to recruit and train new graduates.
According to a recent survey conducted by Jiji Press, over 30% of major Japanese firms plan to hire more new graduates in Spring 2024 compared to this Spring. This number has increased by three from the previous year and has exceeded the 30% mark for the second consecutive year. The survey covered 100 major companies, and responses were received by mid-March.
Many firms are competing for human resources due to the recovery in economic activity from the COVID-19 crisis, as well as concerns about the country’s declining population and a shortage of information technology personnel. As a result, companies like Toshiba, Fujifilm Holdings Corp., Japan Airlines, All Nippon Airways, and Zensho Holdings Co. plan to increase the number of new graduates they hire next Spring. Toshiba, for instance, is set to employ 610 new graduates, up 40% from this Spring, while Fujifilm Holdings Corp. plans to hire 1,000 new graduates, up 20%.
However, Aeon Co., a retail giant, plans to cut its new hires to about 2,700 from approximately 3,000 due to a decrease in the number of workers needed as digital reform progresses. Meanwhile, only four companies plan to reduce graduate hiring, a drop from nine, according to the survey.
The survey also showed that 48 companies expect the hiring environment to become more challenging in the medium to long run. Kawasaki Heavy Industries Ltd. cited the declining birth rate as a reason for a possible decrease in personnel, while Kyocera Corp. and NEC Corp. foresee increased competition for technology and science personnel, respectively.
Finally, several firms, including Isetan Mitsukoshi Holdings Ltd., are struggling to respond to the trend of starting job-hunting activities earlier and diversifying such activities. Takayoshi Kurita, chief of the employment research institute of job information provider Recruit Co., believes that the labor shortage issue, which was difficult to surface amid the COVID-19 crisis, is becoming evident.
According to Kurita, companies are struggling to secure digital transformation experts through mid-career recruitment and are therefore ramping up efforts to recruit and train new graduates.
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