Multiple reports from Korean news outlets suggest that Samsung is working on a complete overhaul of its internal corporate structure. The company is expected to roll out sweeping reforms which aim to improve upon some of its archaic practices. It plans to usher in a new era of Samsung led by young executives.
The initiative, spearheaded by Lee Jae-Yong, will abolish some of the tenure requirements for senior positions, which, in some instances, could span from eight to ten years. Now, exceptional candidates will be considered for a promotion based on their performance alone, presumably to achieve the goal of a ‘younger Samsung’.
The initiative will also let employees rate each other via a peer review. It also aims to reduce stagnation by letting people switch roles after working at a specific position for five years. It will also anonymize employees’ ranks on the internal network so that they can communicate ideas freely without hierarchical differences getting in the way
A new talent exchange program has also been put in place that will allow employees to work abroad. Samsung also plans on opening up several satellite offices in major cities to facilitate remote work away from the monotony of an office. Lastly, there’s an internal executive reshuffle in the books, too, which will be announced soon.
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