In this article, I would like to talk about a groundbreaking human resource development support policy called Career Development Promotion Subsidy, promoted by the Ministry of Health, Labor and Welfare. Roughly speaking, through this system, when a company wants to send an employee (covered by employment insurance) to a specialized practical training, such as an MBA, based on their vocational abilities and development plan, it can receive financial assistance for the tuition (half of the value for small and medium-sized companies and one-third for large companies) as well as part of the wages during that period.
For example, if a company wants to send one of its future executives to acquire an MBA degree, and that program involves a tuition of 3 million yen over two years, that company is entitled to financial aid in the amount of 1-1.5 million yen per employee from the government, depending on its size. In addition, since each corporation can receive up to 5 million yen annually, it can send more than one employee per year to get an MBA. This is a revolutionary system that can greatly reduce the costs associated with corporate education.
While large companies can systematically complete corporate training for each department in their hierarchies, small and medium-sized companies, for whom it was nearly impossible to provide corporate education to their employees, will likely benefit the most. As an MBA institution, we are excited to make the most of the employee training support system offered by the Career Development Promotion Subsidy and develop business people with high international competitiveness.