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Human Resource Management of Raytheon

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Human Resource Management of Raytheon
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Netra Shetty
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netrashetty
Student of PGDM at Mats Institute of Management and Entrepreneurship
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Human Resource Management of Raytheon - January 27th, 2011

Raytheon Company (NYSE: RTN) is a major American military contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007. Raytheon is the world's largest producer of guided missiles.[1]

Established in 1922, the company reincorporated in 1928 and adopted its present name in 1959. The company has around 75,000 employees worldwide and annual revenues of approximately US$25 billion. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2007, it was the fifth-largest military contractor in the world,[2] and is the fourth largest defense contractor in the United States by revenue.

Raytheon Headquarters was moved from Lexington, Massachusetts to Waltham, Massachusetts on October 27, 2003.[3] The company was previously headquartered in Cambridge, Massachusetts from 1922–1928, Newton, Massachusetts from 1928–1941, Waltham from 1941–1961, Lexington from 1961–2003, and back to Waltham from 2003 onwards.



Starting Pay:

use the same percentage of increase for all new hires
use variable increases (minimum of pay band to 15% above current salary)
based on recruitment difficulty, criticality of job or other pay factor
determinations
exceptions to starting pay approved by top administrator or designee

Promotion:

assign set percentage (minimum of pay band to 15% maximum) for all
agency promotions (e.g. all incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resources approval

Voluntary Transfers (Competitive – same or different Role in same pay
band):

assign set percentage (minimum of pay band to 15% maximum) for all
competitive voluntary transfers (e.g., all incumbents would receive 3%, 5%,
8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resource approval
establish guidelines for not giving salary increase
establish guidelines for reducing incumbent’s current salary

Voluntary Transfers (Non-Competitive – same or different Role in same pay
band):

assign set percentage (minimum of pay band to 10% maximum) for all non-
competitive voluntary transfers (e.g. all incumbents would receive 3%, 5%,
8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
establish guidelines for not giving salary increase

establish guidelines for reducing incumbent’s current salary

Voluntary Demotions:

assign set percentage of decrease for all voluntary demotions
reduce all incumbents’ salaries to pay band minimum
allow for variable decreases determined by management based on pay
determination factors
no change in salary for voluntary demotions
determine agency option of freezing salary above maximum for 6 months

Temporary Pay (different Role in higher pay band):

assign set percentage (0% to 15% maximum) for all temporary pay situations
(e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resource approval
establish time period for receiving temporary pay
determine how extension request will be handled and approved

Temporary Pay (different Role in same pay band):

assign set percentage (0% to 10% maximum) for all temporary pay situations
(e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
establish time period for receiving temporary pay
determine how extension request will be handled and approved

Role Change (Upward or Lateral):

assign set percentage (0% to 10% maximum) for all Upward or Lateral Role
Changes (e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
no change in pay for Lateral Role changes

In-Band Adjustments:

Percentage of increase determination:





make all in-band applications a set percentage (e.g. 3%, 5%, 8%, etc.)
assign different percentage to different applications (e.g. change in
duties=3%; retention=5%, etc.)
allow management flexibility to determine in-band salary amount (0% to
10%) based on pay determination factors



Limits:
• ___% without Human Resource approval and ___% to 10% with Human
Resource approval
• no limits can offer 0% to 10%

Timing:



grant in-band adjustments on established dates (e.g. beginning of fiscal
year, quarterly, at time of performance evaluation time, etc.)
allow in-band adjustments any time during the fiscal year



Frequency:
• grant entire increase at one time
• grant staggered increases (e.g. 2.5% now and 2.5% in 6 months)

Disciplinary or Performance Related Salary Action:

mandatory 5% minimum salary reduction (note: if in same pay band, salary
cannot be below minimum and if in lower pay band cannot exceed new
maximum salary)
allow for variable decreases greater than 5% determined by management
based on pay determination factors

Competitive Salary Offer:

Once the critical need to make a competitive offer has been determined:
match outside salary offer not to exceed maximum of pay band
__% without Human Resources approval and __% up to outside offer with
Human Resource approval

RECOGNITION AWARD PROCESS

Agencies need to determine the level of flexibility or control they will allow in the
administration of recognition awards. Listed below are some potential options and
considerations for the administration of recognition awards. However, this is not
intended to be an exhaustive listing of all options available to agencies.

limit amount of award to $____ or any other amount up to $1,000 per fiscal
year
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Last edited by netrashetty; January 27th, 2011 at 06:46 PM..
   
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Re: Human Resource Management of Raytheon
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James Cord
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jamescord
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Re: Human Resource Management of Raytheon - March 28th, 2016

Quote:
Originally Posted by netrashetty View Post
Raytheon Company (NYSE: RTN) is a major American military contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007. Raytheon is the world's largest producer of guided missiles.[1]

Established in 1922, the company reincorporated in 1928 and adopted its present name in 1959. The company has around 75,000 employees worldwide and annual revenues of approximately US$25 billion. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2007, it was the fifth-largest military contractor in the world,[2] and is the fourth largest defense contractor in the United States by revenue.

Raytheon Headquarters was moved from Lexington, Massachusetts to Waltham, Massachusetts on October 27, 2003.[3] The company was previously headquartered in Cambridge, Massachusetts from 19221928, Newton, Massachusetts from 19281941, Waltham from 19411961, Lexington from 19612003, and back to Waltham from 2003 onwards.



Starting Pay:

use the same percentage of increase for all new hires
use variable increases (minimum of pay band to 15% above current salary)
based on recruitment difficulty, criticality of job or other pay factor
determinations
exceptions to starting pay approved by top administrator or designee

Promotion:

assign set percentage (minimum of pay band to 15% maximum) for all
agency promotions (e.g. all incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resources approval

Voluntary Transfers (Competitive same or different Role in same pay
band):

assign set percentage (minimum of pay band to 15% maximum) for all
competitive voluntary transfers (e.g., all incumbents would receive 3%, 5%,
8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resource approval
establish guidelines for not giving salary increase
establish guidelines for reducing incumbents current salary

Voluntary Transfers (Non-Competitive same or different Role in same pay
band):

assign set percentage (minimum of pay band to 10% maximum) for all non-
competitive voluntary transfers (e.g. all incumbents would receive 3%, 5%,
8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
establish guidelines for not giving salary increase

establish guidelines for reducing incumbents current salary

Voluntary Demotions:

assign set percentage of decrease for all voluntary demotions
reduce all incumbents salaries to pay band minimum
allow for variable decreases determined by management based on pay
determination factors
no change in salary for voluntary demotions
determine agency option of freezing salary above maximum for 6 months

Temporary Pay (different Role in higher pay band):

assign set percentage (0% to 15% maximum) for all temporary pay situations
(e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 15% with Human
Resource approval
establish time period for receiving temporary pay
determine how extension request will be handled and approved

Temporary Pay (different Role in same pay band):

assign set percentage (0% to 10% maximum) for all temporary pay situations
(e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
establish time period for receiving temporary pay
determine how extension request will be handled and approved

Role Change (Upward or Lateral):

assign set percentage (0% to 10% maximum) for all Upward or Lateral Role
Changes (e.g. incumbents would receive 3%, 5%, 8%, etc.)
allow for variable increases determined by management based on pay
determination factors
___% without Human Resource approval and ___% to 10% with Human
Resource approval
no change in pay for Lateral Role changes

In-Band Adjustments:

Percentage of increase determination:





make all in-band applications a set percentage (e.g. 3%, 5%, 8%, etc.)
assign different percentage to different applications (e.g. change in
duties=3%; retention=5%, etc.)
allow management flexibility to determine in-band salary amount (0% to
10%) based on pay determination factors



Limits:
___% without Human Resource approval and ___% to 10% with Human
Resource approval
no limits can offer 0% to 10%

Timing:



grant in-band adjustments on established dates (e.g. beginning of fiscal
year, quarterly, at time of performance evaluation time, etc.)
allow in-band adjustments any time during the fiscal year



Frequency:
grant entire increase at one time
grant staggered increases (e.g. 2.5% now and 2.5% in 6 months)

Disciplinary or Performance Related Salary Action:

mandatory 5% minimum salary reduction (note: if in same pay band, salary
cannot be below minimum and if in lower pay band cannot exceed new
maximum salary)
allow for variable decreases greater than 5% determined by management
based on pay determination factors

Competitive Salary Offer:

Once the critical need to make a competitive offer has been determined:
match outside salary offer not to exceed maximum of pay band
__% without Human Resources approval and __% up to outside offer with
Human Resource approval

RECOGNITION AWARD PROCESS

Agencies need to determine the level of flexibility or control they will allow in the
administration of recognition awards. Listed below are some potential options and
considerations for the administration of recognition awards. However, this is not
intended to be an exhaustive listing of all options available to agencies.

limit amount of award to $____ or any other amount up to $1,000 per fiscal
year
Hey netra,

Here i am uploading Multi-Purpose Aircraft Carrier by Raytheon Company, so please download and check it.
Attached Files
File Type: pdf Multi-Purpose Aircraft Carrier by Raytheon Company.pdf (1.82 MB, 0 views)
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