Medtronic (No. 2 on the 2024 Top 50 Companies list) has published its 2023 Global Inclusion, Diversity & Equity (ID&E) Annual Report. The report highlights the company’s sustained commitment to creating an inclusive and equitable workplace. Under the banner “Zero barriers: Driving impact,” the 2023 report both highlights the progress Medtronic made over the last year and the company’s strategy for continuing to remove historical barriers to equity.
Commitment to Inclusion, Diversity, and Equity (ID&E)
Medtronic roots its ID&E initiatives in its mission to alleviate pain, restore health and extend life. With over 95,000 employees across more than 150 countries, the company believes that diverse perspectives are crucial for fostering innovation and achieving better outcomes for patients worldwide. Medtronic’s approach to ID&E is designed to directly support business outcomes while fostering a more inclusive workplace.
Key Initiatives and Progress
In 2023, Medtronic continued to drive its mission of inclusion and equity for all employees. Notable achievements and strategies in 2023 included:
Inclusive Culture and Leadership
Medtronic aims to develop a culture of belonging where all employees feel valued and respected. Over 35,000 employees are involved in more than 300 Employee Resource Group (ERG) chapters. These groups play a significant role in enhancing engagement and providing cross-cultural education and advocacy for underrepresented voices.
Educational and Career Development
The company works to remove barriers to education and career advancement for underrepresented groups. Differentiated development programs, such as Accelerate and LIFT, provide tailored mentorship and sponsorship opportunities. Additionally, Medtronic has re-credentialed jobs to prioritize skills and offers debt-free college education to employees.
Inclusive Hiring Practices
Medtronic continually evaluates its talent management processes to ensure equitable opportunities. By mitigating bias in hiring and promotion practices, the company aims to build diverse teams. At the end of 2023, women held 51% of leadership positions globally, and 40% of employees in the U.S. were from ethnically diverse backgrounds.
STEM Partnerships
Medtronic collaborates with various organizations, like the Thurgood Marshall College Fund and the Society of Hispanic Professional Engineers, to advance diversity in STEM (Science, Technology, Engineering, and Mathematics) fields. These efforts are designed to overcome the historical inequalities still present in STEM industries.
Leadership Accountability
Medtronic’s leadership commits to driving ID&E efforts through a structured, data-driven approach. The company uses quantitative metrics and executive reviews to track progress and ensure accountability. This helps align the company’s leadership vision and ID&E strategic objectives.
Learn more about Medtronic’s ID&E strategy by reviewing the full Global ID&E Report.
