Company Culture

Trane Technologies’ engagement index is unique to our company and measures Pride, Energy and Optimism. Our score in 2020 was 80 which reflects high levels of engagement in our new company. These results are very positive, particularly in a year which brought many challenges. 90% of employees at Trane Technologies participated in the 2020 engagement survey.

From the early days of the pandemic, we never wavered from our drive to keep employees healthy, safe, and engaged at work. We encouraged flexible work arrangements with our company and equipped our workforce with support programs such as counseling and back-up childcare. We understand that, during the pandemic, women have exited the workforce at higher rates than men. Among Trane Technologies employees, however, they reported slightly higher engagement levels than men. Read more about our approach to occupational health and safety and learning and development.

Employee Benefits

At Trane Technologies our Total Rewards programs and policies are closely connected to our strategy and designed to meet the needs of employees globally. We provide benefits, programs and pay designed to keep our employees at their best.

We have rigorous pay practices to ensure we compensate our employees fairly, equitably and competitively across many compensation variables. Our compensation practices are based on external norms, extensive data, internal equity, scope and accountability of jobs and performance.

Our incentive compensation programs are tied to our 2030 Sustainability Commitments. Beginning in 2021, executive incentive compensation now is linked to environmental sustainability and diversity goals. 

In all countries, we offer market-competitive benefits. In certain areas, we offer differentiated programs to support employees in achieving their best life, at work and at home, whether through our flexible work policies or through family support programs. For example, in addition to leave offered through Family and Medical Leave Act (FMLA), we offer an additional four weeks to eligible birth mothers and two weeks to eligible employees following a birth, adoption or foster care placement. 74% of employees were entitled to this enhanced parental leave in 2020. Of those employees, 2% initiated a leave in 2020. We also offer an adoption assistance program. Our overall retention rate was 97.2% for employees who returned to work following parental leave in 2020 and were still employed one month later. 

Many of these benefits are also offered to our part-time employees who work between 20 to 35 hours per week. For those who work less than 20 hours a week, we offer an Employee Assistance Program (EAP), retirement benefits and an employee purchase program. 

Employee Well-Being

Trane Technologies believes in supporting the total health of our employees, globally, so they lead longer, happier, healthier lives. Through our well-being program, we offer employees and spouses enrolled in our medical plan the opportunity to participate in a broad variety of wellness activities to earn significant financial rewards. The program focuses on physical, mental, emotional, social and financial well-being. 

Knowing the impact of COVID-19, we expanded support to help employees take care of themselves and their families during this challenging time:

• 100% of our employees around the world had access to at least one company-sponsored wellness activity including a global well-being challenge. Each year, we expand our Employee Assistance Program (EAP) to 5-6 countries. This year, we accelerated rollout of our global EAP to 25 remaining countries (final country pending Works Council approvals). Employees received frequent communications on resources, targeted to crisis concerns such as mental health, childcare and education.
• Amended U.S. medical plans to cover COVID-19 testing and telehealth visits at no cost to employees.
• Modified Short-Term Disability Plan in the U.S. to eliminate waiting periods and start benefits on the first day of absence for COVID-related illness or required quarantine.
• Amended 401k plans for U.S. employees to allow for COVID-19 related distributions and a delay for loan repayments without penalties.
• Back-up care and working parent resource enhancements in the U.S. included:
  • Back-up child and elder care benefit to allow for more coverage days. 
  • Additional educational resources for working parents such as access to learning pods for school-aged children and online academic and tutoring resources.
• Accelerated Future of Work initiative to create Flex Time and Flex Place policies and resources. Availability varies by role, and includes options such as flexible work hours, compressed work weeks, continued work-from-home arrangements and other creative solutions for employees.
• Expanded opportunities for financial support through the company’s Helping Hand employee relief fund by creating a grant category for COVID‑19 related expenses. Internationally, 1,083 employees received support totaling $1.37M in 2020.

Additional Employment Data

As a result of our focus on an uplifting culture, our key talent retention rate in 2020 was 97.2%. Our company-wide voluntary retention rate was 93.1%. We had 3,837 new employee hires in 2020, broken down as follows: