Trailblazer Pacesetter LATE BLOOMER

Raytheon Technologies, a worldwide leader in the aerospace and defense industry, focuses on unit production of air, sea, and land industrial components and has been ranked as a LATE BLOOMER on the Women’s Power and Influence Index.

Raytheon Technologies has placed an early commitment to Paradigm for Parity, setting a goal to achieve 50% executive-level talent by 2030.

As of 2021, Raytheon Technologies has just over a quarter of its workforce staffed with women.

Sufficient information relating to Raytheon’s pay parity could not be found.

Review the comprehensive WPI criteria and methodology.

✓ Does the company demonstrate a clear and transparent commitment to equal pay? 

“We are committed to fair treatment and equality of opportunity to ensure all our employees experience Raytheon Technologies as a great place to work, grow and belong. This includes paying employees equitably based on their contribution to our success. We review employee compensation and compensation practices annually to ensure employees of comparable experience and performance who perform similar work are paid similarly, regardless of race or gender.”

Ref: Diversity, Equity, and Inclusion Report pg. 11

✓ Does the company perform an annual analysis of gender pay equity and pay disparities? 

“We review employee compensation and compensation practices annually to ensure employees of comparable experience and performance who perform similar work are paid similarly, regardless of race or gender.”

Ref: Diversity, Equity, and Inclusion Report pg. 11

✘ Do female employees earn at least 95% of what their male counterparts earn?

Information regarding this criterion was unavailable or incomplete.

✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization? 

“As part of our efforts to increase the presence of women within our executive ranks, we made an early commitment to Paradigm for Parity, a coalition of business leaders dedicated to addressing the leadership gender gap in corporate America. With that commitment, Raytheon Technologies has set a goal that 50% of our executive-level talent will be women by 2030. To support this goal, we are developing strategically focused approaches to sourcing, professional development and career progression of our female talent.”

Ref: Diversity, Equity, and Inclusion Report pg 10

✓ Does the company provide professional development programs designed specifically for female employees? 

“Our leadership accelerator programs also continue to focus on DE&I leadership at all levels. For example, our WILLRise (Women in Line Leadership) program prepares mid-career women from all functions for profit-and-loss management roles. Between 2019 and 2022, 192 high-potential women were selected for WILLRise in three separate cohorts. Of cohort one, 64% have been promoted since the cohort began in January 2019, including 39% who have been promoted to an executive role.”

Ref: 2022 ESG Report, pg. 15

“WILL Rise began as a grassroots effort to accelerate the growth and advancement of women in P&L leadership roles. The year-long program is dedicated to providing meaningful and sustained learning and development, networking and mentoring opportunities. WILL Rise is creating a community of passionate, strong and confident women who support each other’s professional growth and encourage future generations of female P&L leaders to thrive.”

Ref: Advancing Gender Equity, pg. 5

✓ Does the company provide professional development programs designed specifically for diverse employees?

“Each year, our leaders nominate employees with strong performance histories and demonstrated potential for unique professional development opportunities. Our DE&I nomination programs support underrepresented talent at all levels so they can optimize their performance and maximize their potential.”

Ref: Diversity, Equity, and Inclusion Report pg. 16

✓ Does the company offer a formal mentoring program to support the career advancement of all female employees? 

“Each year, our leaders nominate employees with strong performance histories and demonstrated potential for unique professional development opportunities. Our DE&I nomination programs support underrepresented talent at all levels so they can optimize their performance and maximize their potential.”

Ref: Diversity, Equity, and Inclusion Report pg. 16

“WILL Rise began as a grassroots effort to accelerate the growth and advancement of women in P&L leadership roles. The year-long program is dedicated to providing meaningful and sustained learning and development, networking and mentoring opportunities. WILL Rise is creating a community of passionate, strong and confident women who support each other’s professional growth and encourage future generations of female P&L leaders to thrive.”

Ref: Advancing Gender Equity, pg. 5

✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?  

“WILL Rise began as a grassroots effort to accelerate the growth and advancement of women in P&L leadership roles. The year-long program is dedicated to providing meaningful and sustained learning and development, networking and mentoring opportunities. WILL Rise is creating a community of passionate, strong and confident women who support each other’s professional growth and encourage future generations of female P&L leaders to thrive.”

Ref: Advancing Gender Equity, pg. 5

“Each year, our leaders nominate employees with strong performance histories and demonstrated potential for unique professional development opportunities. Our DE&I nomination programs support underrepresented talent at all levels so they can optimize their performance and maximize their potential.”

Ref: Diversity, Equity, and Inclusion pg. 16

✓ Does the company have policies and programs in place to actively recruit female candidates?

“Gender diversity is a key component of our DE&I strategy, and we are evolving our policies and practices to reflect a more equitable recruitment, advancement and retention process…As part of our efforts to increase the presence of women within our executive ranks, we made an early commitment to Paradigm for Parity, a coalition of business leaders dedicated to addressing the leadership gender gap in corporate America. With that commitment, Raytheon Technologies has set a goal that 50% of our executive-level talent will be women by 2030.”

Ref: Diversity, Equity, and Inclusion Report pg. 11

“In addition to our focus schools, we work with military veterans and a variety of partners, such as the Society of Women Engineers and the Society of Hispanic Professional Engineers, to help accelerate our efforts to attract and hire a diverse range of employees.”

Ref: ESG Report, pg. 14

✓ Does the company have policies and programs in place to actively recruit diverse candidates? 

“The pioneering spirit that drives innovation in our technologies is reliant on our ability to recruit, hire, develop and retain a highly skilled diverse workforce. Our greatest differentiator is the collective skills and the talent of our people – diversity of thought, backgrounds and experiences…We continue to make investments to enhance our strategies, programs and actions, including:

• Implementing a more focused hiring strategy to identify, engage with and attract the most diverse pool of candidates”

Ref: 2022 ESG Report, pg. 17

“In addition to our focus schools, we work with military veterans and a variety of partners, such as the Society of Women Engineers and the Society of Hispanic Professional Engineers, to help accelerate our efforts to attract and hire a diverse range of employees. We also work with Historically Black Colleges and Universities (HBCUs) to build our pipeline of diverse talent.”

Ref: ESG Report, pg. 14

✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?

“It’s important to us that you feel supported through life’s challenges. We offer a variety of flexible work arrangements and paid time off, as well as programs for dependent and adult care, family leave, college planning, counseling and personal convenience services.”

Ref: Our Culture, pg. 4

✓ Does the company provide child care support for employees?  

“With the Bright Horizons Back-Up Care program, you have access to back-up child care services for infants, preschoolers and school-age children through age 12 in the following ways: • Center-based back-up child care; • In-home child care; and • In-home child care for mildly ill children (such as those with a fever, diarrhea or a rash)…You can use these services up to 30 times per dependent each year for planned needs and last-minute emergencies”

Ref: Raytheon Benefits, Pg. 320

“With Bright Horizons Enhanced Family Supports programs, you have access to an expanded network of caregivers, including KinderCare Learning Centers, Knowledge Beginnings and other resources throughout the U.S. In addition to the back-up care benefit, Raytheon Technologies employees have waitlist preference at Bright Horizons centers and discounts at many network partners.”

Ref: Raytheon Benefits, pg. 322

✓ Does the company offer subsidized child care?

“With the Bright Horizons Back-Up Care program, you have access to back-up child care services for infants, preschoolers and school-age children through age 12 in the following ways: • Center-based back-up child care; • In-home child care; and • In-home child care for mildly ill children (such as those with a fever, diarrhea or a rash)…You can use these services up to 30 times per dependent each year for planned needs and last-minute emergencies”

Ref: Raytheon Benefits, Pg. 320

“With Bright Horizons Enhanced Family Supports programs, you have access to an expanded network of caregivers, including KinderCare Learning Centers, Knowledge Beginnings and other resources throughout the U.S. In addition to the back-up care benefit, Raytheon Technologies employees have waitlist preference at Bright Horizons centers and discounts at many network partners.”

Ref: Raytheon Benefits, pg. 322

✓Does the company offer paid maternity leave for birthing parents?

“In addition to the convenience of offering this benefit, the company subsidizes the cost of care you use. The amount you pay depends on the service you use:

• Center-based care: $15 per child per day, with a maximum of $25 per family per day.

• In-home care: $4 per hour (with a four-hour minimum).”

Ref: Raytheon Benefits, pg. 321

“Bright Horizons Enhanced Family Supports also offers access to an online database of potential caregivers for your regular care needs, including nannies, babysitters, pet care and more, all at discounted pricing.”

Ref: Raytheon Benefits, pg. 322

✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?

“We offer a variety of flexible work arrangements and paid time off, as well as programs for dependent and adult care, family leave, college planning, counseling and personal convenience services.”

Ref: Our Culture, pg. 4

“To help you through this life-changing time, the company offers paid parental leave. Eligible employees may take up to three weeks of paid parental leave for the: • Birth of a child, or • Adoption of a child once the court adoption placement agreement is complete and the child resides with the employee. For purposes of this benefit, a parent is the child’s biological, adoptive or legal mother or father.”

Ref: Raytheon Benefits, pg. 315

✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?

“In addition, the plan covers related preventive-care services at 100% with no deductible, coinsurance or copayment when received outside the United States or through a Cigna OAP network provider inside the United States…Examples of services include…For women: breast exam, mammogram (including 3-D mammogram), pap smear, family planning services and bone mass density exam (PCP referral not required to see a network OB/GYN for these services).”

Ref: Raytheon Benefits, pg 120

“Family planning benefits (for example, Depo-Provera injections, diaphragms, IUDs as well as FDA-approved oral, injectable and emergency contraceptives) are covered at 100%…Following a medically necessary diagnosis, the treatment of infertility, including Zygote Intrafallopian Transfer (ZIFT) and Gamete Intrafallopian Transfer (GIFT), is covered the same as any other illness (no dollar limits, no attempt limits).”

Ref: Raytheon Benefits, pg 121

✓ Does the company offer women-specific health benefits for female employees?

“In addition, the plan covers related preventive-care services at 100% with no deductible, coinsurance or copayment when received outside the United States or through a Cigna OAP network provider inside the United States…Examples of services include…For women: breast exam, mammogram (including 3-D mammogram), pap smear, family planning services and bone mass density exam (PCP referral not required to see a network OB/GYN for these services).”

Ref: Raytheon Benefits, pg 120

“Family planning benefits (for example, Depo-Provera injections, diaphragms, IUDs as well as FDA-approved oral, injectable and emergency contraceptives) are covered at 100%…Following a medically necessary diagnosis, the treatment of infertility, including Zygote Intrafallopian Transfer (ZIFT) and Gamete Intrafallopian Transfer (GIFT), is covered the same as any other illness (no dollar limits, no attempt limits).”

Ref: Raytheon Benefits, pg 121

✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?

“Raytheon Technologies does not tolerate harassment under any circumstances. We want our people to be protected from it. Harassment is words or actions that create an intimidating, hostile, or offensive work environment…Whether in person or online, harassment is not just what is intended but how others perceive it. It can be, for example:

1. What a person says or writes, including racial, ethnic, or gender-based slurs, jokes, or stereotypes as well as threatening, loud, or abusive language;

2. What a person does, such as unwelcome touching, making sexual advances, blocking someone’s path, ignoring someone, or deliberately humiliating someone; and

3. What a person displays, such as placing lewd photos or derogatory slogans on a workstation or sharing them electronically.”

Ref: Raytheon Code of Conduct, pg 10

✓ Does the company mandate all employees to undergo harassment and discrimination training?

“In addition, all employees are required to complete ethics and compliance awareness training on an annual basis. Our Code of Conduct and ethics and compliance training buttress the following expectations to support and uphold human rights: Valuing diversity, equity, and inclusiveness…

Establishing Workplace Respect: Under no circumstances do we tolerate any form of harassment, abuse, intimidation or retaliation in the workplace.”

Ref: Raytheon Human Rights Policy, pg. 1

✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?

“Under no circumstances do we tolerate any form of harassment, abuse, intimidation or retaliation in the workplace. Reports of noncompliant conduct are investigated and, when misconduct is verified, appropriate disciplinary measures up to and including employment termination are taken.”

Ref: Raytheon Human Rights Policy, pg. 1

✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?

“RTX is an advocate of Paradigm for Parity, a coalition of business leaders dedicated to addressing the corporate leadership gender gap. The coalition is made up of CEOs, senior executives, founders, board members and business academics who are committed to achieving a corporate world where women and men have equal power, status and opportunity. The ultimate goal is to achieve full gender parity by 2030, with a near-term goal of women holding at least 30 percent of senior roles.”

Ref: Advancing Gender Equity, pg. 2

✓ Does the company offer and support initiatives that promote gender equality in the community?

✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?

“Our community to gender parity, 50/50 gender parity in leadership positions by 2030, 30% of our Board of Directors are women.”

Ref: Advancing Gender Equity, pg. 2

✓ Does the company offer equity-focused trainings, speaker programs, or events for employees?

“We continue to make investments to enhance our strategies, programs and actions, including:…Launching a training for professional employees worldwide to raise awareness and understanding of our DE&I strategy and pillars.”

Ref: 2022 ESG Report, pg. 17

*Our Index utilizes binary measurements, where ✓ represents a score of 1, and ✘ represents a score of 0.

*All links are valid as of April 2024