ITC believes that managerial remuneration is an
important instrument in attracting and retaining talent and a key component of the
performance management system. Three features of ITC's
remuneration strategy are :
- Remuneration must leverage performance and therefore the
need for a strong linkage between remuneration and performance when considering annual
remuneration reviews as well as when periodically adjusting remuneration for market.
- Remuneration must be market-led. For this purpose
remuneration is reviewed on an on-going basis in relation to identified benchmark
companies to ensure that remuneration practices are in sync with the competitive
situation.
- Remuneration must take into account
"affordability" and the Company's capacity to pay and hence cannot be divorced
from business realities.
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