Raytheon Named to FORTUNE magazine's 2011 Top Companies for Leaders
Company recognized for superior development of leadership talent
WALTHAM, Mass., Nov. 7, 2011 /PRNewswire/ --Raytheon Company (NYSE: RTN) has once again been selected as one of FORTUNE magazine's Top Companies for Leaders, ranking 18th in North America in the publication's 2011 project, out of more than 470 companies surveyed. The biennial ranking recognizes companies for leadership in retaining, attracting and developing talent.
"Receiving this great recognition underscores our commitment to developing a strong leadership pipeline to ensure the success of our company and our customers," said Raytheon Chairman and CEO William H. Swanson.
Raytheon utilizes a number of formal programs and practices to identify and grow its leaders. These include an annual Human Resources (HR) Review to facilitate discussion on key topics of professional development, a workforce planning process, and formalized leadership development programs for all levels of talent. The company also employs in-depth succession planning and other human resources strategies that support key business drivers.
"Raytheon uses a defined workforce planning process to identify capable talent for key roles across the enterprise to meet organizational needs and marketplace demands," said Keith Peden, Raytheon senior vice president of Global Human Resources and Security. "Our leadership programs accelerate the development of this talent through applied and experiential learning."
An expert panel of independent judges selected and ranked companies for FORTUNE's project based on criteria including strength and depth of leadership practices, culture, business performance and company reputation. Participating organizations were surveyed and analyzed by Aon Hewitt, the global human resources consulting and outsourcing business of Aon Corporation, in partnership with The RBL Group, a strategic HR and leadership systems advisory firm, and FORTUNE.
"Through our research, it's clear that Top Companies such as Raytheon understand the connection between investing in leaders and financial success," said Pete Sanborn, global leader of the Talent and Organization Practice at Aon Hewitt. "Leaders at these organizations are passionate and committed. They have a focus on talent and developing leaders in a manner that is aligned with business goals."
Raytheon Company, with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.
SOURCE Raytheon Company