Re-designation which is neither promotion or demotion - change to 14 levels of hierarchy for succession planning

We are a private company having 7 (7 levels of hierachy) grade structures. we want to change it now to 14 grade structure (14 levels of hierarchy) for succession planning and looking at market scenario. we plan to redesignate employees for the same. So now what is happening is an employee who was previously at x ..is coming down three grades. someone at MG is coming to JMG. This is not a demotion . We have no intention to demote people. the compensation and terms and coniditons shall remain the same.
Can u guide how correct will it be??? What all should we include in the redesignation letter. do we have any other option?
thank you

Pl understand one simple human psychology.
Designations make a lot of difference.
Moment person comes down 3 grades, he is going to feel affected and hurt.
Probably you can introduce designations which are in addition to existing levels.
If have manager, then have senior manager,instead of assistant manager.
Succession planning is a strategy for identifying and developing future leaders at your company — not just at the top but for major roles at all levels. It helps your business prepare for all contingencies by preparing high-potential workers for advancement.
It is not only having more designations.

Dear member,
Six months passed since you had raised the above post. So what is the outcome of adding the levels of the hierarchy? What was the objective of the creation of the additional layers and has it been achieved? Did you face some unforeseen problems?
The members of this forum will be thankful to you if could share your experience. It will be an education to them.
Thanks,
Dinesh Divekar

Feedback will be a good gesture.
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