As Representative Director of the Well-being for Planet Earth Foundation, Yoshiki Ishikawa has spearheaded efforts to promote and practice well-being alongside researchers and practitioners around the world.
One of Japan’s leading researchers, he bridges academia and society, collaborating with international organizations and companies to continuously explore what it means for people to live well.
In this interview, we revisited the fundamental question of “What is well-being?” and discussed his evaluations of the WILL GROUP’s initiatives and his vision for the future of well-being in management and society.
To put it plainly, well-being means being in a good state, both objectively and subjectively. It is not enough to be merely healthy, nor merely economically prosperous. In work, study, life, and play, are you able to make choices true to who you are and live your life on your own terms? This in its entirety is well-being.
Why has this term been in the limelight as of late? I believe it has emerged because society had lost sight of the essence of abundance. Right after the war, we used the term “welfare.” But over time, its meaning narrowed, and more people came to see it as irrelevant to them. As words are created and proliferate, they acquire biased connotations and lose their original meaning. The same is true for satisfaction and engagement. While they were important concepts, they got confined to organizational convenience and lost their essence.
Well-being has emerged as a reaction to this. Humanity has repeatedly created new words in an attempt to return to the essence. I believe well-being is part of this process.
Changes in capital markets are also deeply tied to this context. As the Japanese stock market ended its investment phase and entered a harvest phase, shareholder returns have been prioritized. While dividends and share buybacks have increased, investment in employees and society has been put on the back burner. In this context, reconsidering “whose happiness should we value” and “how should we distribute value” has become an unavoidable issue. The spread of the term “well-being” is emblematic of this.
There are several reasons I hold the WILL GROUP in high regard.
The first is their long history and the data they have accumulated. While many companies have recently started to embrace well-being, the WILL GROUP has been working on it since before others took notice. This continuity is a strength other companies cannot replicate. Their history has enabled them to accumulate a wealth of data, which brings depth to both management and work sites.
The second is their stance of continuing to explore without settling on a right answer. If they were to define well-being as one thing, initiatives would quickly become formulaic and hollow. The WILL GROUP has avoided this, continually questioning and flexibly incorporating new data and methods. It is this flexibility in continually adjusting to changes in society and people that upholds sustainability.
The third is their emphasis on relationships at work sites. Temporary staff and employees support each other, and these bonds create a ripple effect. This is a uniqueness that other companies cannot easily replicate. Systems such as hybrid staffing and the Field Supporters system serve not merely as human resource services but also function as a social safety net. Being able to generate social value from work sites is something only the WILL GROUP can do.
The last is their level of commitment. In 2018, Chairman Ikeda founded the Well-being for Planet Earth Foundation together with like-minded business leaders to contribute to the well-being of people, society, and the planet through an approach that went beyond the WILL GROUP’s business activities, and this foundation has had an impact both in Japan and abroad. This was not merely a slogan but a genuine effort to spread well-being throughout society. We have inherited this DNA to this day.
I view the WILL GROUP as a rare entity that achieves both economic and social value. At its foundation lies the mission of “becoming a change agent group that brings positive change to individuals and organizations.” I believe practicing well-being is itself an embodiment of this mission.
So, how should companies incorporate well-being into management? I emphasize the perspective of “allocating added value.” A company’s profit and loss statement shows how resources are allocated, from gross profit to personnel expenses, R&D, SG&A, taxes, and final profits. This shows clearly whose well-being the company prioritizes.
Research has also proven a causal relationship in which companies with high employee well-being have higher profits and stock prices. The S&P Global ESG survey, in which over 2,000 listed companies in Japan participate, has incorporated “employee well-being” into corporate ratings since 2023. In other words, well-being is no longer just a trend but a “required subject” when enhancing corporate value.
However, well-being cannot be measured by numbers alone. Something that has become especially important in recent years is “subjectivity,” or how workers feel. Indicators such as satisfaction and engagement are useful, but insufficient on their own. People do not live by work alone; well-being must be understood holistically, encompassing learning, daily life, and leisure.
What is especially important from a well-being perspective is “choice and self-determination.” The biggest portion of life is spent working. Having options that suit you in this realm and being able to make choices for yourself on your own terms is at the core of well-being. This is something that the WILL GROUP has been practicing all along.
Finally, there is something I would like to convey to readers. I hope the WILL GROUP continues to create opportunities for young people to take on new challenges. The driving force of growth in every era has always been “taking on new challenges.” Creating an environment where young people can take on challenges with confidence will lead to well-being in the next era.
This is simultaneously important for investors and society as well. Companies that continue to provide opportunities to take on challenges are always resilient in the long run. Even when facing difficulties, they garner the support of society. This is because companies that have accumulated social value are seen as indispensable.
Expanding choices and supporting self-determination in work, the largest domain of life—this is the greatest value a company can provide and the mission they should undertake.
I want investors to understand that well-being is directly linked to corporate value. I hope employees and future colleagues will believe in their potential and take on challenges. I sincerely hope the WILL GROUP continues to serve as a stage for this.
Well-being is not a passing fad but an inevitable concept created as society questions what truly matters. The WILL GROUP possesses a uniqueness in its practices that other companies do not as it continues its journey toward the future as a “change agent group that brings positive change to individuals and organizations.”
