Go to contents

Executives Playing It Safe This Month

Posted December. 09, 2006 07:57,   


Executives are playing it safe as the holiday season nears.

Executives who represent each company enjoy honor and economic compensation. However, they also live a “fly’s life.” There is a joke comparing them to temporary staff. With a worsened business environment this year, company profits are not as good as they could be.

As a growing number of executives are very anxious that they will be the subject of gossips leading them to be denounced, each company is spending the end-of-year season in a quiet atmosphere.

Best to stay quiet just before promotion-

Recently, the Samsung Electronics PR team changed their press information data at the very last minute.

The information is about Samsung supplying large LCDs to 2,400 post offices worldwide. However, the managing director of this project requested that his staff’s name be on the article instead of his to the PR team. What is going on?

One executive officer at Samsung Electronics commented, “There is this idea that you should not be outstanding before the promotion season.” He added, “Whether good or bad, just staying low before promotion is the best strategy.”

Due to this reason, there is a rumor that the Samsung Electronics CEO who did a “drunk interview” with a press company received a bad mark for his evaluation grade from the management.

Anyhow, the interview where he revealed his childhood dream and memoirs taking pictures with drinks was too much at a period near the promotion.

An executive officer of Hanwha noted, “With a new CI announced recently and change of names of six affiliate companies from next year, executives are afraid of prospective changes.” He went on to add, “As no one pursues any new project, it is really quiet. Quite close to silence actually.”

Sharp attention to promotion information-

There are many executives who are unusually secretive, talking on the phone a few times a day in each company these days. Executives with unstable positions are sharing their promotion-related information.

However, discreet promotion information is not much of a help to the actual promotion.

One executive at SK said, “Nowadays, the evaluation process is done continuously and multilaterally. Therefore it is difficult for us to cover for our performance at a time during the promotion period.”

Another executive at LG Electronics noted, “If executives whose performance was poor try hard during the promotion period, they are bound to give out a bad impression.”

Major domestic large company executives’ “staying low” tactic is affecting middle sized companies too.

Shin Hyun-mahn, President of Career Care, a headhunting company, said, “Large company executives are thinking of deciding on their future position after the end-of-year promotion result. Following this, middle-sized company promotion schedules for recruiting large-company executives are being delayed. This might lead to a decrease in domestic productivity.”

kimsunmi@donga.com aryssong@donga.com