Level 10 instead of director — financial companies say goodbye to titles

Handelszeitung — 11 January 2024

On the way to a titleless future? The trend of doing away with titles and replacing them with roles is no longer reserved for young, hip companies. Companies in the financial world such as Axa are taking the first steps, while others such as Basellandschaftliche Kantonalbank are already much further ahead.

Dr. Jennifer L. Sparr, our Head of Ecosystem Building, confirms that the abolition of titles might be well aligned with cultural change: "In times when career paths were clearly defined, titles made sense because they represented a clear goal to strive for."

However, as career paths could become more diverse, the level system might make more sense. "People and their organizations will find different and more diverse ways to express an individual's contribution to the company's goals." It will be complex — but the psychologist welcomes the move, as it will force companies to focus more on individual employees.

Initially, this will be done internally - but the exciting thing is that the discussion can have an impact on the entire job market. When applicants from an untitled company like Axa look for a new role, they no longer do so with a single title, but instead ask companies and individuals to take a closer look at what they have achieved.

Article in German by Tina Fischer