Samsung to nurture young executives to cement ‘New Samsung’ era

30-Nov-2021 Intellasia | Koreaherald | 5:02 AM Print This Post

Samsung Electronics is poised to employ a new personnel management system starting in 2022 that could foster young executives, in a move to lay the groundwork for a “New Samsung” era under Samsung’s de facto leader Lee Jae-yong, the South Korean tech giant said Monday.

Under the new scheme, Samsung will abolish a set of requirements before an employee gets promoted, such as a minimum period roughly from eight to 10 years to serve in a certain work position. Instead, an excellent employee will be eligible to be listed in a “promotion session” so that the employee’s work performance and expertise can come under a multidimensional review before he or she gets promoted.

The new human resources solution will help the tech giant bring top talents to management regardless of their age, Samsung said in a statement.

In line with the revamp, Samsung will remove the job title of senior vice president, known as “jeonmu” in Korean, and incorporate the title with executive vice president, or “busajang” in Korean.

Samsung’s new system will also encourage young talents to boost their career experience. Samsung said it plans to allow employees serving in the same position for at least five years to be qualified to work at a different position. At the same time, a talent exchange programme will give employees in Korea the opportunity to serve in positions abroad.

Moreover, a separate management system will be implemented for an employee’s soft landing in a return from a career break. Satellite offices will be created in “major locations” of Korea to nurture remote working environments.

In order to enhance its employee evaluation system, Samsung will adopt absolute criteria and test a peer evaluation, under which employees judge the value of one another in an evaluative essay.

Samsung said the new system will create a “future-oriented work environment” to enable its staff and executives to be more dedicated to their tasks with greater spontaneity.

This is the first major change in Samsung’s human resources management system in five years, after Samsung simplified job titles by removing three Korean conventional job titles, and encouraged its employees to add “pro” or the Korean honorific suffix “nim” when referring to each other to promote horizontal communication, in June 2016.

Also, the move is the latest indication of Samsung’s bold step toward the “New Samsung” vision to cope with uncertainties and challenges at home and abroad, as Lee’s succession plan is underway with former Chair Lee Kun-hee’s death in October 2020.

Momentum for the revamp appears to be gathering steam following Samsung Electronics vice Chair Lee’s weekslong trip to the United States, his first overseas trip since being released early from a bribery sentence. Lee expressed a regret for “desperate voices on the scene” and “the harsh reality of the market” immediately after returning to Seoul on Wednesday.

Samsung is set to announce its executive reshuffle next month.

Samsung Electronics approved three chief executive officers Kim Ki-nam of the semiconductors business, Koh Dong-jin for smartphones and Kim Hyun-suk for consumer electronics as internal board members at a shareholders meeting in March this year.


Category: Korea

Print This Post

Comments are closed.