AXA Switzerland Removes Hierarchy to Adapt To An Evolving Job Market
AXA Switzerland removes hierarchy. This is a landmark move!
While some level of hierarchy will remain, many intermediate titles such as vice-president will be eliminated, marking the shift from a "status hierarchy" to a "hierarchy of responsibility”. The goal is to enable employees at all levels to make critical decisions about their work, instead of only adhering to top-down directives.
As Daniela Fischer, Head of HR, told NZZ recently, "Bosses don't always know everything best.”
Historically, money and status have been the primary motivators for employees. However, this concept is becoming outdated.
In today's job market, companies not only compete against each other, but they also compete with a wide range of self-employment opportunities. For example, working as a content creator, which is becoming easier to get into and more profitable, also thanks to Ai.
AXA has recognised that especially younger generations are not necessarily motivated by status and money, but rather by long-term purpose and the actual nature of their day-to-day work. If it were solely about money, they could easily work online probably making more than in any regular job. Instead, they’re looking for their skills to be valued and to be respected, no matter of their job title. Being taken seriously is what truly matters for them I believe.
We will see if AXA will be successful in this massive cultural change. Regardless, I hope more companies will test similar structures to adapt to a job market that has undoubtedly changed.
