Lotte, "Creating a Young Organization" ... Integrating Manager and Senior Manager Positions Starting Next Year

[Asia Economy Reporter Jo In-kyung] Lotte will unify the Cha and Manager-level positions into one starting next year. The company plans to reduce the rank system from five levels to four, aiming to promote younger executives accordingly.

According to Lotte Group on the 15th, Lotte Shopping announced yesterday that it will integrate the Cha and Manager-level S2 and S1 ranks and apply this change from next year's personnel appointments. The existing rank system, which was divided into Employee (A), Assistant Manager (SA), Manager (M), and Senior Manager (S2·S1), will be reduced to four levels.

As a result, the possibility of younger executives emerging has increased. Until now, the promotion period for S2 was four years and for S1 was three years, meaning that even with a senior manager rank, it took at least seven years to be promoted to an executive. However, with this rank integration, employees as early as their fifth year at the S level could become eligible for executive promotion.

A Lotte Group official explained, "The purpose is to simplify the rank system to invigorate the organization and promote young talent," adding, "Except for some areas like research institutes, the integrated rank system will be gradually applied to other affiliates as well."