An inclusive, diverse, and equitable workplace is critical for the success of any company. At Medtronic, this value is rooted in the Medtronic Mission, directing their global company since 1960 to recognize the personal worth of all employees.
To highlight their commitment to transparency and accountability, Medtronic released its first annual inclusion and diversity report to the public. The 2019 Global Inclusion, Diversity, and Equity Report illustrates steps the company is taking to achieve a 2020 target of 40% or more women in global management positions, with an ultimate aspiration of reaching 50% or more globally, and 20% or more ethnically diverse talent in U.S. management positions.
Among the report’s highlights: Medtronic has achieved 100% gender pay equity in several countries — including the United States — and 99% gender pay equity globally.
“Ensuring we have an inclusive and equitable work environment that encourages diversity of thought is essential to our purpose,” says Carol Surface, chief human resources officer at Medtronic. “Bringing diverse perspectives, experiences, and voices together leads to better decisions and ultimately better business results. For us, this translates to meaningful innovation that improves patient outcomes.”
Through a culture of inclusion, Medtronic is taking a holistic approach to fostering a diverse community that reflects the world in which employees live and work, including:
Setting Measurable Goals with Leadership Accountability – In 2015, Medtronic began setting five-year goals around inclusion and diversity including metrics to guide internal strategy. Senior leaders monitor metrics throughout the year to ensure the company is making meaningful progress and is held accountable for results. In 2019, Medtronic announced that ethnically diverse talent held 22% of leadership positions in the United States — surpassing the company’s 2020 target of 20% or more. In addition, 38% of all global leadership positions were held by women, on track to meet the company’s 2020 target of 40% or more and bringing Medtronic closer to the ultimate aspiration of 50% or more globally.
Closing the Pay Equity Gap – From a pay perspective, we believe in equal pay for equal work. In 2019, Medtronic joined a handful of companies who have shared information about pay equity. The company conducted a comprehensive, aggregate analysis of pay equity by job title and country, revealing:
- Global Gender: In the aggregate, Medtronic global pay equity by job title is 99%, which means for every $1 earned by men, women in the same job earn 99 cents.
- U.S. Gender: Medtronic achieved $1 for $1 pay equity for gender by job title in the United States.
- U.S. Ethnicity: Results reveal that for every $1 earned by Caucasian employees at Medtronic, ethnically diverse employees earn 99 cents, again comparing by job title.
“We will continue to assess our global pay practices to close any remaining gaps,” said Surface. “For areas where a measurable gap exists, we will eliminate the gap and ensure 100% pay equity for all.”
Focusing on Employee Recruitment and Retention – Medtronic is continuously recruiting highly skilled and diverse talent at all levels of the organization. Similarly, the company is focused on retaining and advancing the careers of women and ethnically diverse employees. In 2019, Medtronic launched the Leadership Inclusion from Mentorship Toward Sponsorship program, which accelerates the readiness of diverse talent for leadership roles through executive sponsorship, classroom learning, and experienced-based challenges.
Advancing a Culture of Inclusion – Having a diverse set of perspectives from employees is only valuable if they feel confident contributing and voicing their opinion without anxiety or fear. One way Medtronic supports employees is through Employee Resource Groups (ERGs) and Diversity Networks, which are geared toward supporting members both personally and professionally. In 2019, Medtronic reported more than 19,000 employees belong to ERGs, which include groups for religious faiths, members of the LGBTQ+ community, people with disabilities, veterans, and more. While the ERGs foster an inclusive environment by uniting employees around a shared interest, the company’s Diversity Networks drive internal strategies and inform policies. The Networks, sponsored by Medtronic executive leaders, include: The African Descent Network, the Hispanic/Latino Network, the Asian Impact @Medtronic Network, and the Medtronic Women’s Network. In early Fiscal Year 2020, Medtronic added a fifth Diversity Network — PRIDE — to support our LGBTQ+ employees and allies.
Denise Baek is the chair of the Hispanic/Latino Network and is one of its founding members. She said the Network has helped support her career at Medtronic while also connecting her with other employees who share the same cultural identity.
“Everyone at Medtronic wants you to be successful,” said Baek, vice president of human resources for the Respiratory, Gastrointestinal and Informatics Group at Medtronic. “It’s clear that the leadership at Medtronic sees the Networks as strong tools for talent development. I know that being involved in the Hispanic/Latino Network has certainly given me the confidence to reach my professional aspirations.”