Benefits: Total Rewards

BENEFITS: TOTAL REWARDS

Raytheon has created a comprehensive Total Rewards program designed to meet the diverse needs of our multigenerational global workforce. This program creates value for Raytheon by enabling us to attract, motivate and retain the market's best talent, and by helping our people to bring their best selves to work each day and give their best efforts to support customers.

Total Rewards creates value for employees and families by giving them the pay and benefits programs and flexibility they value most. Our Total Rewards program helps our people to be their best both at work and at home.

Our Total Rewards package includes:

  • Competitive pay.
  • Rewards and recognition programs.
  • Comprehensive health and welfare benefits
    (including medical, vision, dental, life and
    disability plans).
  • A 401(k).
  • Paid time off, and much more.

Health and Well-being

Our health benefits include comprehensive programs, services and resources that address the health needs of our employees and their families and promote a culture of well-being.

We also sponsor a variety of employee programs. These include a rewards-based, digital wellness program and a work/life resource and referral program that offers counseling and learning programs, plus emergency backup care for children and adults.

Our goal is to help ensure that our employees stay physically and emotionally healthy. They can access immediate, on-the-job and at-home help to support their short- and long-term medical and well-being needs, including wellness, work/life balance and employee assistance programs.

IN 2017, 44.5 PERCENT OF ELIGIBLE EMPLOYEES ENROLLED IN OUR LIVEWELL WELLNESS REWARD PROGRAM.

We encourage all employees and their families to cultivate physical health; mental and emotional agility; personal finance acumen and stability at home, in their communities and in their personal lives. This balance makes our people more productive, resilient and better able to meet workplace demands.

Each year we review our programs and services for ways to enhance the Total Rewards program, so it addresses our employees’ needs and increases the number of members who engage in our wellness program. In 2017, 44.5 percent of eligible employees – 25,167 – enrolled in our LiveWell wellness reward program, a 7.5 percent increase since 2016.

In 2016, we became one of the first in our industry to offer paid parental leave. Available to all eligible male and female employees having or adopting a child, our parental leave benefit provides three paid weeks of leave, separate from paid maternity leave or benefits under the Family and Medical Leave Act.

  • In 2017, Raytheon was pleased to announce some important enhancements to our Total Rewards program for employees: Beginning January 2018, all Raytheon-sponsored medical plans now cover Applied Behavior Analysis therapy related to Autism Spectrum Disorder. Additionally, ABA therapy claims for eligible services received from qualified providers on or after Jan. 1, 2016 are being retroactively processed by UnitedHealthcare up until June 30, 2018.
  • There is no pre-existing condition limitation on disability benefits for newly hired employees who are pregnant or become pregnant during their new hire enrollment period. Together with our first-in-industry Paid Parental Leave policy, these programs help the company continue to attract and retain the employees we need to grow and better compete in the global marketplace

Raytheon is planning to meet the changing needs of our workforce. As our international workforce increases, we’re examining regulatory requirements and market practices in several growth countries to find new healthy solutions for expatriates, local nationals and third-country nationals. We continue to expand our knowledge of global healthcare offerings, to assist our deployed employees and families with access to quality medical services and providers and to manage complex medical cases in-country.

We continually research new technology, benefits and services and best practices, to ensure our Total Rewards program continues to meet the diverse and evolving needs of our workforce. And for our wellness rewards program, we've implemented strategies to keep our new and returning participants highly engaged.

Raytheon Wins Healthy Lifestyles® Award

In 2017 the National Business Group on Health, a nonprofit association of 425 large U.S. employers, honored Raytheon with a Gold Level Best Employers for Healthy Lifestyles award for having one of the nation’s best workforce health and well-being programs.

We were one of 18 Gold Level recipients, and among the 48 U.S. employers that received an award this year. The National Business Group on Health focuses on health and well-being as a competitive advantage supporting an effective, engaged and resilient workforce.

Dr. Sandra Stratford, Raytheon’s chief medical officer, was recently honored for her dedication and commitment to Massachusetts’ vibrant healthcare and life sciences industry. The award recognized the 50 most influential people of color in the Boston area.

Health Service UtilizationDr. Sandra Stratford

Kuwaiti Team Commits to Healthy Living

Healthy living can be a real challenge for members of Raytheon’s Warrior Training Alliance effort in Kuwait. Summer temperatures can reach 122 degrees, making exercise and sleeping difficult. Limited healthy eating options on the Army base make it tough to maintain good eating habits.

In early 2017, this team of 12 employees, led by Raytheon country manager, "Bear" Johnson, made a conscious decision to live healthier lives and turned to Raytheon’s wellness program for guidance and support.

They refurbished their kitchen so they could prepare healthier meals using fresh fruit and vegetables from local markets.

They began using activity trackers to monitor their exercise and track their overall progress. They also participate in all the enterprise challenges that are organized and promoted through the system.

Eating together and going to the gym as a group has made the team more resilient, productive and stronger.

Health and Wellness Programs and Resources

Raytheon’s health and wellness program includes the following programs and resources:

ON-SITE HEALTH CENTERS

Our 25 on-site health centers are staffed by 72 full-time contract employees, including 16 full-time employees who support workers virtually at sites without health centers, when they travel for business and when they're on global assignment.

Clinical staff consults on work-related injuries and fitness for duty, non-work-related episodic care, medical surveillance and regulatory exams, disability cases and return to work, drug and alcohol testing, and preventive health and wellness programs. In 2017, these centers served over 25,000 people.

IN 2017, Our Clinics Received Close to 88,000 Visits Compared to Just Over 87,000 in 2016.

ONLINE WELLNESS PORTAL

Over 25,000 employees access fitness and nutrition apps, record daily exercise and nutrition, link to mobile devices and wearables and check wellness rewards each week. Raytheon-enrolled employees tracked close to 19.1 billion steps in 2017.

ON-SITE EXERCISE FACILITIES

There are 24 unstaffed exercise facilities available at no charge, day or night.

REWARDS-BASED DIGITAL WELLNESS PROGRAM

The Virgin Pulse Livewell program offers all eligible employees and their spouses the opportunity to each earn up to $250 annually by creating custom programs and accumulating points. Employees develop personalized plans that meet specific goals and objectives. In 2017, over 30,000 employees and spouses were enrolled in the program.

HEALTHY WORKSITE AWARD

Raytheon encourages all sites with health centers to apply for the Healthy Worksite Award and for our internal program that measures well-being engagement and practices. The number of Raytheon employees working at a site that has achieved a Healthy Worksite Award recognition reached 45,694, or 80 percent in 2017.

WORK/LIFE RESOURCES AND REFERRAL PROGRAMS

We provide counseling, learning and education assistance programs, emergency backup care for children and adults, convenience services referrals and grief counseling. Raytheon partners with Life Resources Employee Assistance Program to create a Work/Life program that offers 24/7 assistance to help meet the diverse individual needs of employees based on lifestyle and personal circumstances. In addition to web-based and telephonic support, there are 12 on-site providers covering 21 sites in the United States that provide confidential, comprehensive consultations that help employees and their families manage life’s demands and provide managers with strategies to address workplace behaviors.

We provide backup care for children, or adult and elder care (up to 20 days per year) for employees and their families, through Bright Horizons trained care consultants. Available 24/7, they do all the work to find the appropriate backup care needed at home or in a day care facility. In 2017, 3,075 employees registered for Bright Horizons and reported 2,987 days saved from having to miss work.

Raytheon is also partnering with College Coach to assist employees with all aspects of their children’s college selection, application and finance processes. This program — provided at no cost to Raytheon employees — is composed of on-site events with video conference to other locations, in-depth online resources, and personalized assistance. Each hour our employees spend with a college coach saves them five hours of time, and employees saved a combined 339 hours since the program launched in June 2017. By the end of the year there were 515 registered employees representing 24 states. According to a Raytheon employee who recently used the program, “the program shows that my employer cares about my personal and professional well-being — and about the matters I’m dealing with right now.”

Employee Assistance Program

There are 12 on-site providers covering 21 sites in the United States that provide confidential, comprehensive consultations that help employees and their families manage life's demands and provide managers with strategies to address workplace behaviors.

Flex Time and Flexible Working Arrangements

At Raytheon, many employees work what's known as a 9/80 schedule, meaning they put in their time and take every other Friday off. Others work a more standard schedule but can arrange to shift their time around when they need to.

CORPORATE RESPONSIBILITY REPORT

Corporate Responsibility Report

This year’s report provides a detailed overview of Raytheon’s corporate responsibility initiatives, highlighting our efforts to enrich the lives of people, strengthen our performance and reduce our environmental footprint.

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