Kyobo Life Insurance Holds Monthly MZ Townhall Meeting to Hear Voices of MZ Generation Directly

At the 'Innovation Lab,' a digital innovation discovery space set up at Kyobo Life Insurance headquarters in Gwanghwamun, Seoul, Jeon Jung-beom, CEO of Kyobo Life Insurance (left), is experiencing VR (virtual reality) equipment together with a new employee.

[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance is focusing on communication management by creating channels for regular monthly meetings with management and activating reverse mentoring systems to actively reflect the fresh ideas of the MZ generation (those born between 1980 and 2010). This is aimed at improving organizational culture and aligning perspectives across generations and ranks through the enthusiastic participation of the MZ generation, who have become the core members.

Kyobo Life Insurance announced on the 17th that it holds a monthly 'MZ Townhall Meeting' to provide opportunities for management to regularly meet with young employees.

The townhall meeting is a communication channel where the MZ generation and top management regularly meet to openly and honestly share necessary voices and issues regardless of rank, aiming to transform the organizational culture to fit the times.

Management can actively gather opinions from the MZ generation, who are the future of the company and the main drivers of digital innovation. Employees respond positively as they can hear specific and sincere opinions about the business direction from management.

The meetings are held with about eight MZ generation members and top executives discussing major company issues without being bound by formalities or frameworks. Topics include △ key interests of the MZ generation △ working methods △ messages they want to convey to the company △ desired improvements, focusing on informal subjects that members are curious about.

Kyobo Life Insurance is also focusing on breaking down hierarchical barriers within the organization through an internal reverse mentoring program. Reverse mentoring means young employees at the staff and assistant manager levels from the MZ generation become mentors to team leaders and above, helping them understand new generation cultures. They learn about current trends such as social networking services (SNS) and align their perspectives with each other.

Kyobo Life Insurance has been operating the reverse mentoring system as a three-month program since the second half of 2020. Currently, the 4th group is ongoing until next month. Senior and junior employees pair up and meet more than twice a month to conduct experience-based reverse mentoring, then write and share reports on their activities and impressions.

A Kyobo Life Insurance official said, "The MZ generation is rapidly emerging not only as a key group within the organization but also as a major consumer segment. Without understanding the MZ generation, companies cannot survive, so we will continue efforts to listen carefully to the voices of the MZ generation."

This content was produced with the assistance of AI translation services.