What happened: On its 20 year anniversary, Tencent promised to maintain internal diversity and focus on grooming younger talent. It plans to reserve 20% of its managerial positions for younger employees. The internet giant said at least one in five promotions will go to young people each year and those in managerial positions will be evaluated based on their ability to foster young talents. “To stay young, a company must keep its metabolism strong, which means continuous movement among employees,” said Martin Lau, president of Tencent.
Why it’s important: Chinese tech giants are recognizing the potential of the younger generation in embracing new technologies and trends. Tencent isn’t the only one who’s rethinking its internal staffing structure. Chinese smartphone maker Xiaomi announced in September an internal restructuring focusing on developing and grooming young managerial talent.