Half of ITC’s 7,000 odd managers have been with the tobacco, hotels & consumer products enterprise for more than a quarter of century (25 years). Attrition at senior management levels from CEO to business heads has been zero for past 15 years.
Any manager who completes 6 years in ITC becomes eligible for Escop (Employee Stock Options). At last count, over 900 managers had subscribed to the scheme.
Many of these lifers have played an important role in powering the new engines of growth that has made ITC a diversified enterprise with operations from soaps to hotels.
HUL (Hindustan Unilever) is the other sizeable Indian operation that comes close to matching ITC’s ability to keep the top brass together in such huge numbers for as long a time.
Half of 1,500 HUL’s managers are lifers. At senior management levels it goes up to 60% although if you combine mid and senior level managers, it comes down to a third.
HUL’s overall attrition rate is 5% and of late it has lost senior managers to rivals.
Src: ET
Any manager who completes 6 years in ITC becomes eligible for Escop (Employee Stock Options). At last count, over 900 managers had subscribed to the scheme.
Many of these lifers have played an important role in powering the new engines of growth that has made ITC a diversified enterprise with operations from soaps to hotels.
HUL (Hindustan Unilever) is the other sizeable Indian operation that comes close to matching ITC’s ability to keep the top brass together in such huge numbers for as long a time.
Half of 1,500 HUL’s managers are lifers. At senior management levels it goes up to 60% although if you combine mid and senior level managers, it comes down to a third.
HUL’s overall attrition rate is 5% and of late it has lost senior managers to rivals.
Src: ET
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