In my application at the moment I have (as in so many other applications) an entity called Contact, which represents any person. At its most basic level this is
I'd go with composition over inheritance in this case. If you stick with inheritance, you'll be changing classes with every promotion or demotion and every time you hire a contact or an employee leaves and becomes a regular Contact.
It's easier just to say Contacts have Roles. You can add a Manager Role to a contact to promote it and remove the Role to fire it.