HUL is the country’s largest FMCG company. In our country this company is called CEO’s Factory. 400 employees working here have held the position of CEO in different companies.
A good job is necessary after good studies, and in the minds of most people, a good job means a hefty salary. Do you know which company in the country is at the forefront of salary? According to the Economic Times report, ITC is at the forefront of the Employee Crorepati Club at this time. There are 153 employees of the company whose salary is more than 1 crore.
Last year, ITC hired 39 such managers who were offered more than 1 crore salary. Earlier this tag was with HUL. In the financial year 2021, there were 123 employees in the crorepati club of Hindustan Unilever, whose number was 129 earlier. In the financial year 2014-15, ITC had only 23 such managers whose salary was more than 1 crore while the number of crorepati managers in HUL was 169. With the increase in the number of crorepati club of ITC, it is being said that the company had introduced the option of ESOP scheme in 2018. Due to this, now only 1% of the managers are covered under the ESOP scheme. In 2017, the number of such managers was 11 per cent.
ITC spends the least on salary as compared to turnover
Another shocking revelation has been made in the report. ITC is the lowest in its industry in terms of employee salary as compared to turnover. The company spends only 4.2 per cent of its turnover as employee salary but is at the forefront of the millionaire club. ITC’s business is in FMCG as well as cigarettes, packaged foods, personal care, stationery, incense sticks. Apart from this, this company also operates the country’s second largest hotel chain. It is the country’s largest private company in the agri business and paperboard market. In such a situation, the number of managers here for different businesses is very high.
Salary jump after the withdrawal of ESOP scheme
Apart from this, the major shareholder of ITC, BAT (British American Tobacco) voted against ESOP (Employee Stock Option) in 2018. After this incident, in 2019, the company changed the salary structure. The new structure was implemented in the financial year, 2020-21. This is the reason why the total remuneration (remuneration) of many managers has jumped up to 51 percent.
HUL is called CEO Factory
HUL is the country’s largest FMCG company. In our country this company is called CEO Factory. Different studies claim that about 400 employees who started working with this company have been made CEOs in different companies. Hindustan Unilever is one of the top favorite companies for MBA students.