ATTRACTING, RETAINING AND DEVELOPING TOP TALENT
Several external factors make it increasingly challenging to attract, develop and retain the workforce of the future. We share with our industry peers nearly identical employee profiles in terms of age, tenure, voluntary attrition and retirement.
We all compete for the same elite — and shrinking — talent pool, which is further constrained by today’s historically low unemployment rate. And we face increased competition for talent with nontraditional (commercial) companies. These trends create human capital gaps that threaten to erode the defense ecosystem. We embrace our responsibility to close these gaps through analytics and targeted innovative strategies and programs.
Raytheon recognizes that talent is our competitive advantage — and the key to our success. Our people design and build the groundbreaking technical products and processes that support our customers’ needs and help transform tomorrow. We support career development for all Raytheon employees and continuously review and enhance our programs to better attract, retain and develop our talent.
As a large segment of our workforce moves toward retirement, we are analyzing our critical employee populations to recognize our talent requirements and applying these insights to develop new human resources strategies. We monitor general workforce trends to understand how millennial and Gen-Z employees want to work — and how to better engage them by providing growth and development opportunities. We are transforming our talent acquisition program by revisiting employment requirements and global compensation, by expanding our international internship programs and by enhancing our employee value proposition. We are implementing a new talent development strategy that emphasizes apprenticeship, knowledge transfer and rapid development of critical skills. And to retain employees, we are enhancing recognition and rewards programs, introducing innovative benefits that serve a multigenerational workforce and providing education assistance and flexible work arrangements.
ATTRACTING TOP TALENT
Each year, tens of thousands of newly minted engineers with diverse backgrounds and perspectives join the ranks of professionals who use their problem-solving skills to address the great challenges of our day. At Raytheon, they can explore countless opportunities, from securing an interconnected world, to pushing the boundaries of weather forecasting, to safeguarding every side of cyber.
Leading colleges and universities provide a conduit to inquisitive, motivated people who can bring new ideas and methodologies that contribute to Raytheon’s innovation pipeline. To attract new generations of talent, we invest in advocacy and leadership work at U.S. and international campuses that connect recruiting, research, learning and branding. We have developed multifaceted relationships with research universities that operate at the forefront of technology. These include Northeastern University, the University of Massachusetts, Massachusetts Institute of Technology, the University of Arizona, the University of California—Los Angeles, King Saud University in Saudi Arabia and the Copernicus Science Centre in Poland. We provide funding and technology expertise to help advance promising research, and our engineers collaborate with professors and students. These programs help us learn about leading-edge research and identify professors and recent graduates who can offer extensive technical experience and diverse perspectives. In support of Raytheon’s global growth strategy, we launched an international internship program in 2018 to proactively identify and develop local national talent in countries such as Poland, where our work is expanding.
Talented technical graduates can apply for our two-year Rotational Engineering Leadership Development Program (RELDP), which develops them to become future leaders at the company. It provides rich development opportunities through targeted experiential and applied learning and participation on global teams supporting international customers and suppliers.
We also developed an Intentional On-boarding Program to help new hires acclimate to Raytheon. We create opportunities for them to meet face-to-face with colleagues, attend regional development and networking sessions, attend panel discussions, listen to Raytheon quarterly earnings calls and learn about diversity and inclusion. Participation has led to high levels of employee retention.
STRATEGIC TALENT MANAGEMENT
Raytheon benefits from the talent, skills and experience of many exceptional people who have devoted their entire careers to our mission. But some of these senior leaders are approaching retirement, and new generations are ready to step in. As Raytheon grows, and our business strategy evolves, we are building the talent pipeline we need to support our customers’ changing needs.
The generational mix of our workforce continues to shift, and we are collecting and analyzing data that helps us understand changing work preferences, expectations for growth and development, and many other factors. We also constantly assess how new technology like artificial intelligence can support our business and talent strategies. Insights from these initiatives inform the changes we make and our plans going forward.
In 2016, we launched a multi-year plan focused on key processes and cultural elements that affect employee recruitment, retention and development. These efforts represent a heightened and sustained focus on increasing diversity — specifically, representation of women and people of color — in our leadership pipeline. Highlights of the plan include revamped talent acquisition and development processes; required training on topics like mitigating bias and inclusive leadership; a new performance rating system; diversity-related annual goals for every level of leadership; inclusive benefits like one of the industry’s first paid parental leave program; and an internal communications campaign. Half of Raytheon’s engineering vice presidents are now women.
In 2018, we advanced our long-term strategy to attract and advance women with STEM backgrounds. We piloted a crowdsourcing initiative that surfaced new insights about how women perceive Raytheon and what we can do to attract women to our workforce. This Igniter Program also generated new ideas about how to better represent and advance women. We also piloted a new management development program with 400 leaders. It uses adaptive learning technology to gauge current knowledge of specific topics, so employees around the world can recognize and address learning gaps and advance in their careers.
WORKPLACE OF THE FUTURE
As our work, workforce and work habits evolve, we’re enhancing our value proposition by addressing key elements of the workplace experience. We’re exploring flexible workspace options — both physical and virtual.
RETAINING TALENT, ADVANCING LEADERSHIP SKILLS
RAYTHEON SUPPORTS “PLEDGE TO THE AMERICAN WORKER”
Investing in great talent means empowering every employee to develop their own unique, extraordinary career; and we want every Raytheon employee to find purpose, thrive and succeed. We continue to adapt how we attract, develop and motivate people as the talent and demographic landscape changes — and as we expand and diversify as a truly global organization.
We maintain and evolve a rich set of individual development and team development resources to address the needs of our 67,000 employees. These include a development planning framework, a Global Mentoring Program and leadership courses and assessments. Our Inclusive Leader program, instructs managers how to lead in a diverse/multicultural workplace. It heightens their awareness of key concepts related to group identity. And it equips leaders with the skills they need to engage their teams and employees one on one. We are also embedding the Inclusive Leader content into a number of leadership events. Survey results and feedback have been overwhelmingly positive.
We also provide leadership development opportunities for high-potential employees early in their careers, followed by mid-level and executive training programs. For example, employees and managers can use experiential grids to explore roles and to tailor experiences that help them develop on the job. These profiles are an important tool for experiential development, because they define very specifically what experiences people need to cultivate to become candidates for promotion. A year ago, we created experiential grids for 30 roles, including 10 vice president positions who report directly to our senior leadership team. In 2018, we extended our strategy by developing additional grids for a broader segment of our employee population.
Additionally, we’ve improved the way we slate, select and on-board employees and have aligned our development process with diversity-focused goals. And our focus on employee sponsorship and mentorship is helping people build networks and connect with mentors and advocates. In 2018, every member of Raytheon’s senior leadership team served as a sponsor to protégés to build relationships, advocate placements and support talent in key roles. Leadership’s engagement is improving retention and leading to meaningful role changes and promotions across business functions. These are just some of the ways we continue to adapt how we attract, develop and motivate people as the talent and demographic landscape changes — and as we expand and diversify as a truly global organization.
FINDING A CREATIVE CAREER PATH AT RAYTHEON
Yasmine Straka was planning to pursue a college degree in the arts until a mechanical engineering internship at a local aerospace company opened her eyes to a new world of opportunity.READ MORE
TEAM “MILLENNIAL FALCONS” PUSHES EX/IM LICENSING INTO HYPERDRIVE
During the last year, employees selected for the Raytheon Leadership Development Program (LDP) competed in a multimonth, cross-functional Impact Proposal Competition.READ MORE
Encouraging Self-Driven Learning
Raytheon offers a variety of education and training programs, accessible through an online learning management system. To facilitate self-driven learning, we align these courses with specific competencies. Other modules focus on such functional areas as engineering, contracts, supply chain and sustainability. Additionally, Raytheon’s U.S. Education Assistance program offers tuition reimbursement for a variety of degree and non-degree programs.
In 2018, we revised and enhanced our educational systems program to create broader learning opportunities. Beyond earning graduate degrees, employees can now earn professional certifications and complete online courses that lead to micro master’s degrees. We created a campaign to spread the word and encourage employees to use internal career development resources to define their own paths.
We also redesigned our enterprise career development resources to help employees across all businesses, functions and locations grow and sustain their own extraordinary career at Raytheon. Our new Career Development portal features a six-step career development framework to support self-directed career exploration, planning and development.
We also introduced Experiential Grids — role-specific and foundational — accessible by all employees through our Career Development portal. These grids provide specific experiences needed to be ready for future positions, and they serve as a guide for employees to manage their career choices to close experiential gaps. Guidance and instruction for employees and managers on choosing and using experiences for development are available on the Career Development portal.
Equal Wages for Equal Work
Employees value Raytheon’s long-standing commitment to equal pay for equal work. We conduct regular pay equality audits and are also subject to fair-pay rules that apply to federal contractors.
Raytheon provides a variety of recognition programs to acknowledge employee contributions. Our Rstars program is a global, online platform that gives Raytheon leaders and employees an easy and consistent way to show thanks and appreciation to colleagues in both monetary and non-monetary forms.
In 2018, more than 45,000 employees used Rstars to send more than 110,000 recognitions to each other, with over half of those tied to our company value of collaboration. Additionally, Raytheon invested over $52 million in Rstars awards, including nearly $5 million in Spot awards, over $45 million in Achievement awards and more than $2 million in Service awards globally.
Internal and External Recognition
We keep communication channels open across Raytheon to monitor the heartbeat of our organization. We track workforce sentiment through our employee resource groups, workforce surveys, blogs and social media. Our most recent biennial employee survey revealed that Raytheon once again outperformed the majority of other high-performance companies that benchmark these categories in their employee surveys. On average, Raytheon employees are nearly 20 percent more proud, committed, and optimistic than their peers at other companies. More than 89 percent of respondents said that they are proud to work at Raytheon, and 81 percent would recommend it as a great place to work. In addition, more than 75 percent said that they are optimistic about Raytheon’s future and that they have opportunities to learn new skills to help them succeed.
In 2018, Forbes® ranked Raytheon among the Top 500 Best Employers in America, and we were named among the 100 Best Places to Work in Information Technology by Computerworld® magazine for the 12th consecutive year.
Corporate Responsibility Report
This year’s report provides an expansive review of our corporate responsibility content, and highlights our efforts to enrich the lives of people, strengthen our performance, and reduce our footprint on the planet.