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At Textron, our compensation and benefits programs reflect our commitment to attracting and retaining top talent and to recognizing the people who make a difference every day—moving the company forward. Our total reward structure, combined with a variety of recognition programs, is designed to help talented employees excel and achieve their professional goals.
Below, you will find a general overview of the compensation, healthcare, income protection, retirement and work/life benefits available to eligible employees, along with additional program information.
Compensation | Healthcare Benefits | Retirement Income Benefits | Income Protection | Work/Life Balance | Educational Assistance/Professional Development | Employee Reward and Recognition | Community/Volunteer Services
Our philosophy is simple—pay for performance. Pay for performance is used throughout the company to reward employees in alignment with company and individual performance. Our goal is to be competitive in the markets that we compete. Every employee brings varied experiences and is compensated for the results of his or her performance.
Our compensation program includes more than competitive base pay. We offer incentive compensation to eligible employees, and our promote-from-within philosophy means that you will enjoy stretch assignments and have numerous opportunities to advance within our global company.
Medical and Prescription Drugs
We encourage you to be an active participant in your healthcare, so we developed a comprehensive toolkit of resources to help you make the most informed decisions about your benefit options. Our plan includes a number of unique features that help you spend healthcare dollars wisely. Features include:
- Choice of three coverage options and a company-funded Health Reimbursement Account or Health Savings Account. A Health Savings Account can help you save for short- and long-term healthcare expenses and realize tax advantages.
- Free preventive care visits and generic maintenance medications.
- Includes coverage for preventive and diagnostic care and basic and major restorative care.
- Covers eye examinations (including corrective lens fitting), eyeglass frames, eyeglass and contact lenses and discounts on laser vision corrective services.
Flexible Spending Accounts
- Allows employees to set aside pre-tax dollars annually through payroll deduction for eligible healthcare expenses.
401(k) Plan - Textron Savings Plan
Developing a retirement plan today helps you prepare for the future. Our
401(k)plan is a tool that you can use to save for the future—helping you to pursue your retirement goals.
- You contribute a percentage of pay on a pre- or after-tax basis via payroll deductions.
- Eligible employees receive a company matching contribution of up to 5% of eligible compensation.
- You are fully vested in the company matching contributions after five years of service.
- You may be eligible to receive an additional discretionary annual cash contribution that is separate from and in addition to the company match.
Life Insurance / Accident Insurance
- Company-paid life and accident insurance equal to a percentage of annual base salary. Employees can also purchase supplemental insurance at competitive group rates.
- Competitive disability benefits to compensate you during short- or long-term disabilities.
- Company-paid holidays and competitive vacation schedules.
- Paid personal time
People are our greatest asset. To help you to continue to develop your capabilities and provide you with the tools you need to advance your career, we support continued education.
- Tuition reimbursement for undergraduate and graduate courses and certificate programs.
- Textron University is a company-wide resource for learning and development, offering courses and additional resources in leadership, marketing, project management and supply chain management. Both in-class and e-learning options are available.
- Scholarship programs for employees and their dependents, including the National Merit Scholarship Program for employees’ children.
We celebrate excellence through a variety of peer-to-peer and manager-to-employee recognition programs.
The annual Chairman’s Award for Innovation is designed to reward employees for significant contributions to the company in the areas of customer service, productivity, growth or product and process innovation.
Textron supports a diverse array of community programs through charitable giving and active volunteerism from our employees. We encourage and support your efforts to make a difference.
Our generous Matching Gift program doubles the size of your charitable contributions to qualified organizations.