Attracting, Retaining and Developing Top Talent
ATTRACTING, RETAINING AND DEVELOPING TOP TALENT
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 make the world a safer place.
We support career development for all Raytheon employees and continuously review and enhance our programs to better attract, retain and develop our talent.
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 a cyber safe world, to pushing the boundaries of weather forecasting, to supporting human spaceflight.
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 connects recruiting, research, learning and branding.
These programs help us learn about leading-edge research and identify professors and recent graduates who can offer extensive technical experience and diverse perspectives.
"We must create an environment where every single candidate can envision themselves thriving, succeeding and finding purpose at Raytheon. Otherwise, we simply sabotage our own competitiveness."
— Randa G. Newsome, Vice President, Human Resources and Global Security
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 as these senior leaders near retirement, and as our business strategy continues to evolve, we must ensure our talent pipeline can support our future growth.
As the generational mix of our workforce continues to shift, we are analyzing data related to work preferences, expectations for growth and development, and many other factors that we use to inform the changes we make and plans going forward. We are also constantly assessing how new technology like artificial intelligence can support our business and talent strategies.
In 2017, we developed a new strategy to identify and prepare candidates as successors to key organizational roles. We created experiential grids for 30 roles, including 10 vice president positions who report directly to our senior leadership team. These profiles define very specifically what experiences people need to cultivate to become candidates.
These are just some of the ways we continue to adapt how we attract, develop and motivate people as the talent landscape changes.
SUPPORTING CAREER DEVELOPMENT
Success in business requires a deep understanding of employee aspirations and a commitment to invest in their success. We provide leadership development opportunities for high-potential employees early in their careers, followed by mid-level and executive training programs.
Every qualified candidate needs to be able to envision a career for themselves at Raytheon. We’re committed to increasing representation of women and people of color in the leadership pipeline and are making meaningful progress through a series of strategic activities.
We’ve improved the way we slate, select and onboard 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 2017, 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.
We also maintain and evolve a rich set of individual development and team development resources to address the needs of our 63,000 employees. These include a development planning framework, a Global Mentoring Program and leadership courses and assessments. We also 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.
Attaining a diverse workforce at all levels of the organization is a business imperative. That’s why Raytheon has joined the Society of Women Engineers STEM re-entry task force to implement ReLaunch – an engineering and technology returnship program for professional, mid-career women returning to work after a career break of 2-plus years. Set to launch in September 2018, ReLaunch will provide paid professional development experiences, technical and mentoring resources, and a cohort structure for support during the transition.
completed Raytheon leadership development programs in 2017.
In 2017, EMPLOYEES RECEIVED AN AVERAGE OF
Retaining Talent, Advancing Leadership Skills
Raytheon employees have a thirst for doing great and interesting work that directly impacts the world around them. This shared purpose is reflected in our biannual employee survey results. Our most recent survey revealed that Raytheon once again outperformed the majority of other high-performance companies that benchmark these categories in their employee surveys.
In 2017, Forbes® ranked Raytheon among the Top 500 Best Employers in America, and we were named among 100 Best Places to Work in Information Technology by Computerworld® magazine for the 11th consecutive year. We were also named among the 100 Best Corporate Citizens by Corporate Responsibility Magazine®.
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.
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 all Raytheon leaders and employees an easy and consistent way to show thanks and appreciation to colleagues in both monetary and non-monetary forms.
"Recognizing and awarding employees is a great way to motivate each other,” says IDS employee Liz Lusky. “Rstars helps build a company culture where people want to work hard, contribute and succeed."
In 2017, nearly 46,000 employees used Rstars to send more than 101,000 recognitions to each other, with over half of those tied to our company value of collaboration. Additionally, Raytheon invested nearly $50 million in Rstars awards, including nearly $4 million in Spot Awards, nearly $43 million in Achievement Awards and more than $3 million in Service Awards globally.
IN 2017, RAYTHEON INVESTED NEARLY
IN RSTARS AWARDS
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.
Click below to download the full report or build your own.