Corporate experience in rewarding high individual performance

This article describes and discusses those policies and programmes in the ITT compensation package for executive level staff which recognize and reward good individual performance. It contains three main sections. First it outlines the structure and culture of ITT as background to a description of the philosophy and structure of the general ITT compensation package and its application in the various European countries. Second it reviews some of the basic design features of reward systems in order to establish a framework which can be used to judge the effectiveness of reward systems in general and the specific ones used by ITT. Finally it examines the major programmes of the ITT reward system and discusses their effectiveness against the criteria identified in the previous section.