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 Building Textron into the premier multi-industry company requires employees who can meet and exceed the expectations of our stakeholders. Textron’s compensation and benefits programs are designed to reflect our commitment to attracting and retaining talented and motivated people who share this goal.
"Textron Total Rewards" is a comprehensive program that incorporates pay programs that are designed to help talented employees elevate their game – both at work and at home. Textron employees and their families, which includes same gender partners with respect to most benefits, have the opportunity to take an active role in managing the quality and the cost of their own benefits.
The information below provides a general overview of the healthcare, income protection, retirement plans and work/life benefits as well as additional programs that may be available to eligible Textron employees.
The descriptions that follow are general information only and do not represent the particular benefits for which you may be eligible. Pay and benefits vary throughout Textron and within each business. In addition, pay and benefits for employees represented by a bargaining unit will be in accordance with the collective bargaining agreement. It is not intended to specify all of the details of each plan. Upon hire, you will be provided the specific plans and benefits for which you are eligible. Nothing in this website constitutes an employment agreement, or any obligation with respect to benefits and compensation.
Textron’s pay programs are designed to attract and retain top talent. Employees may receive increases in base and, if eligible, incentive pay through promotions and performance.
Textron businesses offer a leading-edge consumer-driven healthcare plan to non-bargained and some bargained employees. . This plan includes a number of unique features and puts employees and their families in control of their healthcare choices and how to spend healthcare dollars. It also encourages them to maintain good health and spend healthcare dollars wisely. Features include:
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Choose any provider without having to get a referral
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Flexibility to personalize benefits to specific needs through a choice of three coverage options and a company-funded Health Reimbursement Account or Health Savings Account..
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A Health Savings Plan (HSA) option to help employees save for short- and long-term healthcare expenses, which also enjoys tax advantages.
Textron’s businesses offer dental plan options that include coverage for preventative and diagnostic care, basic and major restorative care, and orthodontia for eligible children.
Most Textron businesses offer a vision service plan that covers annual eye examinations (including corrective lens fitting), eyeglass frames, eyeglass and contact lenses and discounts on laser vision corrective services.
Most Textron businesses offer flexible spending accounts (FSAs), which allow employees to set aside pre-tax dollars annually through payroll deduction for eligible healthcare and dependent care expenses.
Textron businesses provide company-paid life insurance equal to a percentage of annual base salary. Employees can also purchase supplemental and dependent insurance at competitive group rates.
Textron businesses provide company-paid accidental death and dismemberment insurance equal to a percentage of annual base salary. Employees can also purchase additional accidental death and dismemberment insurance at competitive group rates.
Textron businesses provide its employees with insurance while traveling on company business equal to a percentage of annual base salary based on the type of loss incurred.
Most Textron businesses provide disability benefits to compensate eligible employees during short- or long-term disabilities. At some locations, employees may have the opportunity to purchase voluntary long-term disability benefits.
Most Textron businesses also provide a defined benefit pension plan to eligible employees to provide income during retirement years.
Most Textron businesses offer the opportunity to enroll in a 401(k) plan where employees can contribute a percentage of pay on a pre-tax or after-tax basis via payroll deductions. For eligible employees, Textron may also make a matching contribution of the pay you save. You elect your investment allocation from a diversified array of available fund choices. You become fully vested in Textron's matching contributions and earnings after five years of Textron service. New employees are automatically enrolled in the plan at 3% of pre-tax pay but can disenroll within the first 60 days of employment or can elect a different contribution rate.
Most salaried employees are also eligible for this program where the value of your retirement benefit would be the greater of a defined contribution retirement account or a traditional defined benefit formula annuity. At retirement, the value of the Retirement Account can be taken as a lump sum or a monthly check. If the value of your Retirement Account is less than the value of the modified defined benefit pension, you will receive the difference as a monthly pension.
Employees enjoy an average of 10 to 12 paid holidays per year and generous vacation schedules. Specific schedules vary depending on the business and employee eligibility.
Each of the Textron businesses has benefits and policies relating to time to be used for brief personal illness or injury and/or doctor’s office visits, personal business, bereavement, observance of religious holidays, volunteering, or brief personal family illness or emergencies. These policies are based on the business and employee needs as well as employee eligibility.
Each Textron business has its own Leave of Absence policy.
The availability of the benefits and policies noted below vary based on the business and employee needs.
Confidential, professional assistance is available to employees and their family members to help with a wide range of work, home, personal and family issues. This company-sponsored benefit provides information, consultation and referral services in such areas as child and elder care, educational planning, and counseling services.
Textron businesses provide employees with some financial assistance to help defray the cost of adoption expenses. Benefits and policies vary based on the business and employee needs.
Textron businesses may provide eligible employees with financial assistance to expand their capabilities and enhance job productivity through a variety of on-site, off-site and e-learning personal development training programs and tools. Benefits and policies vary based on the business and employee needs of each Textron business, as well as eligibility.
Textron sponsors an education assistance service for eligible employees and their families through College Coach. The service provides web-based workshops, phone counseling and e-mail support in areas such as help on saving/paying for college, preparing applicaitons, choosing the right school, and homework and study skills.
Textron sponsors a financial counseling service to employees and/or their survivors in the unfortunate event of a death or diagnosis of a life-threatening illness of an employee and the employee's life partner/beneficiary. This service is provided through AYCO.
Textron sponsors the International SOS program that provides employees with 24/7 access to worldwide emergency assistance services while traveling internationally on business.
Textron provides employees with the opportunity to purchase discount auto and home insurance through MetLife and to pay the premiums through payroll deduction.
Textron provides employees with the opportunity to purchase certain discounted Textron products via the internal employee web portal.
Many of our businesses sponsor service award programs to celebrate and recognize employees when they reach a significant service milestone. For further information, contact the Human Resources office of the relevant business.
Many Textron businesses sponsor a variety of volunteer and community-service programs as well as peer-to-peer and manager-to-employee employee recognition programs. Textron supports employees’ volunteer activities in local communities and going the “extra mile” in supporting our customers. For further information, contact the Human Resources office of the relevant business.
The Chairman’s Award for Innovation recognizes and rewards Textron employees whose exemplary innovation have led to significant and measurable improvements in Textron’s products, technology or business practices and contributed directly to Textron’s growth, profitability or competitive position. Awards are presented annually in two categories: Products & Technology and Business Practices.
The Matching Gift Program of the Textron Charitable Trust encourages employees to give their personal financial support to a mix of cultural, educational, environmental and healthcare institutions. Contributions by eligible employees to qualifying organizations will be matched dollar-for-dollar from a minimum gift of $25 to an aggregate maximum of $7,500 annually. Gifts must be made directly from the employee's own funds to approved organizations.
Textron provides Merit Scholarships, ranging from $500 to $2,000 to children of employees who apply and meet the requirements to participate. Scholarship winners are chosen on a competitive basis by the National Merit Scholarship Corporation without regard to family financial circumstances.
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