Compensation
At Cobham we believe in paying employees fairly and maintaining internal equity in our pay system. Taken together, these two principles enable us to recruit and retain a highly competent workforce. We have a “pay for performance” system in which employees have (at least) annual performance reviews.

Bargaining Unit employees’ wage increases are negotiated three years in advance and are granted in February of each year. Bargaining Unit employees are not subject to an annual performance review process.

Market Based Pay
Cobham has established pay ranges for each salaried job classification. These ranges are reviewed annually, against like jobs in the market, to make sure that Cobham pay practices stay current with the supply and demand of labor market trends.

Employees are provided with market based information when they receive a salary increase. This information is expressed as a ratio that relates the employee’s salary to market benchmarks. Employees always know where their pay stands in relation to what other employers are paying – locally, regionally, and nationally.

Performance Reviews
Performance reviews are conducted in January and February for the previous calendar year. Merit increases for salaried employees are granted in March.

Employee performance is rated against the employee’s job duties, behavioral performance and annual goals established for the performance period.