As part of the talent management process at Rockwell Collins, we strive to provide employees with a competitive and total compensation package. Total compensation includes both cash compensation as well as flexible benefit choices.
Specifically, our cash compensation philosophy means we offer employees a base pay that is both competitive in the marketplace and internally. We conduct market-based surveys on a regular basis to ensure our pay is consistent with other companies in all the countries where we do business. Although compensation guidelines vary around the world and within certain job functions, we also provide performance-driven incentives whenever possible that recognize contributions to the company’s success. Performance-based rewards include our incentive pay plan (IPP), alternative rewards and instant compensation.
The IPP is an important element of total cash compensation. The plan is a reward program that provides an annual financial reward to eligible employees when specific business goals are met or exceeded.
Alternative rewards include gift cards, gift certificates and other recognition for employees who go beyond their normal job requirements to help with special projects. Instant compensation awards cash bonuses to individuals and teams who work long hours to complete major projects and achieve proven results.
Our pay-for-performance approach is designed to be fair and consistent while linking rewards with business results.