“The solution to almost every problem is people—if you have great people, you will have a successful business.”—Scott C. Donnelly, Chairman and Chief Executive Officer
Textron is focused on developing employees throughout the enterprise so we have the right people in the right jobs at the right time; this is a key aspect of our talent strategy. When positions become available, we want our employees to be prepared to take on new opportunities and continue to grow and develop themselves.
Textron’s compensation and benefits recognize and reward employees’ hard work and effort.
We offer our U.S.-based employees healthcare benefits, including medical, prescriptions, dental and vision coverage, income protection, retirement benefits, education assistance and more. In addition, we offer a number of programs and policies designed for the well-being of our employees in general and at specific times in their lives, including Employee Assistance Program, Adoption Assistance, Parental Leave Policy, Education Assistance and Scholarship Programs.
A “Pay for Performance” philosophy is used throughout Textron to reward our employees in alignment with individual and business performance. Individual performance impacts base pay, while variable pay depends on individual and business performance. Our goal is to be competitive in our markets by providing target total compensation at a level which can attract and retain talent. We compensate the person in the position, not the position that the person is in. Every employee brings varied experiences and is compensated for the results of their performance.
Learning is a lifelong journey. Our talent development programs are designed to prepare our employees at all levels to take on new career and growth opportunities at Textron. Leadership, professional and functional training courses are tailored for employees at each stage of their careers and include a mix of enterprise-wide and business unit-specific programs.
1,422 employees utilized tuition reimbursement via the Education Assistance Program
$6.8 million reimbursed to employees via the Education Assistance Program
15,390 employees participated in Company-provided professional, technical or leadership development instructor-led classes
44,439 classroom completions of Company-provided technical (job or functional) and/or professional training
More than 140,000 online professional and technical development courses completed by employees
Textron’s employee training strategy uses a learner-centric approach to determine skills gaps and address them with appropriate development programs. Alongside on-the-job training, a wide variety of skills-based training is also offered to our employees through Textron University. This internal corporate function provides facilitated face-to-face professional and leadership development programs, web-based general and specialized functional and technical courses and an online portal to access advanced skills technical training, manage recertification of existing qualifications and other career planning tools and resources.
Our larger facilities sponsor career development events where employees can speak to representatives to broaden their knowledge of other functions, raise awareness of developmental tools and resources and learn about open job positions. Each business unit provides tailored functional training to match the needs of its business to its workforce such as leadership training programs, educational training for human resources professionals, and career and team development planning.
In addition, Textron’s Education Assistance Program reimburses employees for expenses from approved degree or certification programs from institutions accredited by the U.S. Department of Education. Expenses eligible for reimbursement (up to an annual limit) include costs for tuition, books, registration fees, laboratory, College Equivalency Programs and administrative fees. Textron also offers specialized programs, such as the CPA Incentive Package which reimburses employees for study materials, exam and certification fees and offers a financial incentive for passing the CPA exam.
The current and future talent needs of each of our businesses are assessed annually through a formal talent review process led by our CEO to enable us to establish leadership succession plans and provide our employees with potential new career opportunities. In addition, leaders from functional areas within each business belong to enterprise-wide councils which conduct annual talent reviews. These processes enable us to fill talent needs by matching employees who are ready to assume new responsibilities and leadership roles with opportunities that best fit their career path in other businesses within the enterprise.
While a focus of Textron’s talent strategy is promoting from within, another important element is developing an early-career talent pipeline for the future.
Working closely with colleges and workforce development programs, we identify talent through internships, apprenticeships and other career development initiatives. Upon successful completion, participants may be offered entry-level positions within the Textron family of companies.
As a testament to its dedication to early career development, Textron hosted an in-person summer internship program for nearly 700 interns, taking every precaution to maintain the health and safety of the college students who participated. We shortened the program from 10 to 6 weeks, keeping interns local to their home states when possible and reassigning interns to different locations to limit travel. Recruiters and managers worked diligently to change intern plans quickly and ensure their workload could be completed in a shorter period without compromising the depth of the project.
Though the timetable was shortened, the interns still enjoyed a meaningful experience as evidenced by an intern conversion rate to full-time positions or second internships greater than 65% for 2020—higher than that for 2019.
Community- and educational-based workforce development programs are additional sources of talent. A few examples include:
ELEVATE increases awareness of careers in the trade industry while helping students advance their skill sets.
Due to COVID, Aviation had to create an alternative to the large on-campus National Manufacturing Day event held annually. In its place, colleagues developed 1,200 Manufacturing Day in a Box kits and distributed them to employees at all locations. Within the kit, employee families found three STEAM activities, career path information, a list of K-12 opportunities at Textron Aviation and a note from Textron Aviation CEO Ron Draper.
At Textron, we believe feedback is a gift. To understand our colleagues’ perspectives about our business and work culture as well as their connection and engagement with the company, we conducted an enterprise engagement survey.
Approximately 21,000 employees responded, providing over 46,000 comments. Overall, the survey results showed that employees find their work meaningful, have strong relationships with their managers and feel encouraged to innovate.
We are working on turning feedback into meaningful actions. Leadership teams and managers at all levels of the organization in Textron’s businesses are implementing action plans and communicating results as milestones are reached.
Textron’s businesses, functions and facilities have various employee recognition and incentive programs to recognize excellence. The highest level of employee recognition is the annual Textron Chairman’s Award for Innovation which rewards employees who have made significant contributions to innovation, growth, productivity or customer service. In addition to other rewards, each winner is recognized on the Chairman’s Award Wall of Fame at Textron’s World Headquarters.