Build Your Career With Itc.pdf

1/12/2019

Build Your Career with ITC

FAQs Expand all | Collapse all

When I join ITC, am I recruited for a particular Division or am I flexible between businesses? You are recruited into ITC and after your induction you are assigned to a particular Division. ITC is structured such so as to ensure 'separateness' for focus in each business and integration for synergy. New entrants are assigned to a particular Division where the focus is on understanding that particular business: the market, the product, the process etc. The attempt is to provide cross business exposure to managers with demonstrated potential to enable them develop all round business skills and prepare them for business leadership. Those individuals who prefer to grow as functional specialists are encouraged to do so. Movements from one business to another take place depending on the needs of the business.

Please cite a few specific examples of cross business movements. Chitranjan Dar (IIT /IIM) joined ITC in 1980 and was assigned to the Packaging and Printing Division where he worked in Manufacturing, Marketing and Business Development. He moved to ITC Bhadrachalam Paperboards Limited as Head of the Marketing Function before the Company merged with ITC. In 2003, he joined the Lifestyle Retailing Business Division as its CEO and continued in that role till he moved to the Foods business as Chief Operating Officer in 2008 and took over as the CEO in 2009. There are many many more.

How is my career progress determined in ITC? ITC believes the responsibility for career development rests both with the individual and the organisation. While the organisation provides opportunities for learning and growth, it is the individual's responsibility to ensure he/she enhances his/hers competencies to shoulder higher responsibilities. Career development therefore is a two-way process. Above all, the key factor determining career growth is meritocracy and performance.

Is age a barrier to career growth in ITC? Not in the least. As already stated, career growth is determined by performance and meritocracy. The present Chairman of the Company, Mr Y C Deveshwar, was appointed to the Board of ITC at the age of 36. The present Chief Executive of the Personal Care Products Business was appointed to the post at age 40.

What are the cornerstones of ITC's performance management system? The cornerstone of the performance management system is the Appraisal System. The individual agrees to performance objectives at the beginning of the year with his/her superiors. These objectives naturally flow from the objectives of the unit/business. At the end of the year the individual's performance is assessed against the objectives set. The appraisal attaches as much importance to ''how'' results were achieved as to the results themselves. The rating is determined by the manager's boss and endorsed by his boss. Therefore, two individuals are involved in assessing a manager's performance The appraisal process also gives the individual an opportunity to share in a formal manner his/her own career aspirations and what the individual needs from the organisation to enhance his/her own development. Based on an assessment of development needs, a development plan is drawn up for each manager. Remuneration changes are made once every year based on the performance rating of the individual. The entire process is transparent and objective.

What elements does the compensation package comprise? ITC's remuneration strategy is anchored in three basic principles: market-led, performance leveraged and the capacity to pay. Remuneration is benchmarked with identified comparator organisations and reviewed periodically. Apart from the monetary component which comprises Consolidated Salary and Supplementary Allowance, managers are provided with quality accommodation, medical assistance for self and family, leave travel assistance, etc. At middle and senior levels, managers are provided with company maintained cars and the facility of a club membership for business purposes. All managers are members of ITC's Retirement Funds, the Pension Scheme being one of the most attractive in the country. Other benefits include the facility of holiday homes, assistance for further education/self development etc. https://www.itcportal.com/careers/faqs.aspx

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1/12/2019

Build Your Career with ITC

What is the meaning of a 'Specialist'? The Company believes that as the competitive scenario gets more intense, specialism will increasingly become a source of unique competitive advantage. Certain specialisms are enhanced by extended and in-depth application and 'longevity' in a position. This requires a unique approach to career management of such 'specialists.' Some of the specialist positions are Company Solicitor, Scientist, Leaf Blender, Product Development Specialist, Process Specialist, Instrumentation Specialist, Agronomist, Commodity Trader, Forex Manager, Corporate Communications Specialist etc.

Are jobs frequently transferable? All managerial positions are transferable. The services of a manager can also be transferred to a subsidiary or associate company.

https://www.itcportal.com/careers/faqs.aspx

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