ITC recognises the need to nurture specialism and
expertise in areas that give the Company a distinct competitive advantage. In keeping with
this need, the Company has put in place a unique strategy to attract and retain
"specialists" that is anchored in the following premises :
- In each function, certain specific positions require
nurturing of specialism and knowledge. These positions require possession of unique
authority over a critical aspect of the business, are not easily replaceable and require
knowledge and skills that are unique and not common across industries.
- There are certain positions in any organization where
longevity of the individual in that position leads to acquisition of in-depth knowledge
and experience which would take another individual in that position years to acquire.
Therefore, there is a need to retain individuals in these key positions for as long as is
possible.
In keeping with this approch, certain positions have been
identified to be "specialist" in nature. These include Scientist, Leaf Blender,
Agronomist, Legal Resource in Trade Marks and Tobacco and Health, Paper Maker, Forex
Dealer, Commodity Trader, Chef, Food and Beverage specialist, etc.
The remuneration of individuals in these specialist
positions is de-linked from the remuneration matrix applicable to the rest of the business
and is determined by the criticality of skill, individual competence and experience.
The Company strives to encourage individuals in these
specialist positions to continue in them, by rewarding and recognizing their contribution
in that position, rather than have them look to the traditional routes for career
progression and enhancement.
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