Designation hierarchy cannot be created in isolation; it has to be developed in alignment with the organization's structural approach. Additionally, several other aspects such as employee development paths, other factors, and criteria like experience and education also need to be considered while designing the hierarchy. It is essential to determine which specific criteria should serve as the basis for establishing hierarchies.
If the organization follows a flat structure, then Broadbanding would be sufficient. Otherwise, you are free to design and incorporate designations based on the current and future workforce needs, aligning with their professional aspirations.
It is crucial to conduct thorough research before proceeding, as an incorrect structure could disrupt the organizational culture. I have attached a document I came across on the web, which may be helpful to you. Additionally, there are numerous references available online; all you need to do is search for them.
Regards,
Meenakshi