Medtronic named to the 2023 Bloomberg Gender-Equality Index (GEI) the same week the company publishes its Global Inclusion, Diversity & Equity 2022 Annual Report
DUBLIN — Medtronic plc (NYSE: MDT), a global leader in healthcare technology, announced that it joins 483 other global companies as a member of the 2023 Bloomberg Gender-Equality Index (GEI)(opens new window), a modified market capitalization-weighted index developed to gauge the performance of public companies dedicated to reporting gender-related data.
The 2023 GEI reaches globally to represent 45 countries and measures gender quality across five pillars: leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand.
Today, Medtronic also published its Global Inclusion, Diversity & Equity (ID&E) 2022 Annual Report, titled ‘Zero Barriers: Shaping Outcomes.'(opens new window) Notable highlights from the report that demonstrate the company’s advances as an ID&E leader include:
- Ensuring equity in opportunity and pay: Pay and opportunity gaps have a significant and often multi-generational impact on individuals, families, and communities. At Medtronic, we have achieved 100% gender and ethnically diverse pay equity in the U.S. and 99% gender pay equity globally. Our Executive Committee has declared “we will not stop until we reach gender equality and equitably reflect diverse market talent at all levels and pay equity for all.”
- Advancing diversity in STEM through our partnerships: Women, Black, and Hispanic workers tend to be underrepresented in most science, technology, engineering, and mathematics (STEM) careers. To do our part to reduce historical barriers, we’re deepening our relationships with key strategic partners — including Thurgood Marshall College Fund and the Society for Hispanic Professional Engineers — who share our commitment to shaping more equitable pathways to success.
- Breaking education and degree barriers: We know that there are multiple pathways to building a career at Medtronic. That’s why we’re updating job requirements in certain positions to emphasize skills over formal academic credentials. We’ve also launched the Medtronic Advanced Pathways & Skill Building (MAPS) program, which offers 100% college tuition coverage upfront for eligible employees without the need for reimbursement.
- Designing a destination for world-class diverse talent: It’s hard to feel you belong at work if your employer’s benefits don’t recognize you for who you are. At Medtronic, we’ve added partnerships with Included Health — a concierge service specialized in healthcare for LGBTQ+ and Black employees and their families — and expanded our global family care leave benefit. These are just two examples of how we’re more deeply weaving inclusion and belonging into our suite of benefits.
“To engineer the extraordinary, we must unleash the full potential of every single employee and innovate from a range of perspectives as diverse as the patient communities we serve,” said Dr. Sally Saba, Medtronic chief inclusion and diversity officer and Medtronic Foundation president. “We are proud to be recognized as a leader in ID&E and remain steadfast in our commitment to zero barriers to equity and opportunity.”
“At Medtronic, we believe that innovation is a people-powered business, which is why removing barriers and fostering an inclusive, diverse, and equitable workplace is critical to creating transformative, patient-centric healthcare technology,” said Geoff Martha, Medtronic chairman and chief executive officer. “Our ability to serve more patients is dependent on bringing diverse thinking to the table and empowering every employee to reach their highest potential. I couldn’t be prouder to see firsthand the extraordinary outcomes already being unlocked as we continue to ingrain ID&E deeper into our businesses.”