Samsung plans to reorganize its corporate structure to make it more talent-centric
Last updated: November 29, 2021 10:45 utc + 00:00
Several Korean media reports suggest that Samsung is working on a complete overhaul of its internal business structure. The company is expected to roll out sweeping reforms aimed at improving some of its archaic practices. He plans to usher in a new era of Samsung led by young executives.
The initiative, led by Lee Jae-Yong, will remove some of the seniority requirements for senior positions, which in some cases could extend from eight to ten years. From now on, outstanding candidates will be considered for promotion on the basis of their performance alone, presumably to achieve the goal of a “young Samsung”.
The initiative will also allow employees to assess each other through peer review. It also aims to reduce stagnation by allowing people to switch roles after holding a specific position for five years. It will also anonymize the ranks of employees on the internal network so that they can freely communicate their ideas without any hierarchical differences getting in the way.
A new talent exchange program has also been put in place which will allow employees to work abroad. Samsung is also planning to open several satellite offices in major cities to make it easier to work remotely away from the monotony of an office. Finally, there’s also an internal management shake-up in the books, which will be announced soon.
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