We are living in unprecedented times. Across the globe, we have seen a rise in cultural, political, and social tensions that are greatly impacting how we conduct business. We have seen a rise in mental health crisis, exacerbated by the global pandemic and volatile markets. And we are still experiencing disruptions in our global workforce compounded by the great resignation and the new ways of working needed to attract and retain the next generation of talent in STEM careers.
So how do we address these ever-evolving societal challenges in a corporate environment?
I believe we must face them head on with courageous and empathetic leadership and bold commitments in diversity, equality and inclusion (DEI). According to Ernst & Young’s 2021 Empathy in Business Survey, 1,000 Americans who are employed revealed that many left a previous job because their boss wasn’t empathetic to their struggles at work (54%) or in their personal lives (49%). I know firsthand from years of experience in HR and my seat in the C-Suite that courageous leadership and empathy are table stakes for 21st century leaders around the world. I also believe that investing and embedding DEI across an organization can be a gamechanger, which is what we’re seeing at Micron.
Since 2018, Micron’s perspective and actions toward how we show up for our business, our employees, and the communities where we live has shifted significantly to focus on being more collaborative, inclusive and equitable. Why? Because we believe that our people are our most important asset — a value I’ve experienced since day one as Micron’s vice president and chief diversity inclusion officer. Our strong commitment to DEI for all forms a foundation for how we operate our business, connect our 48,000 team members, and engage with communities in the 17 countries where we live and work. We believe our team members are empowered to be their best when they feel valued, safe and respected and that when we make room for their voices at the table, we accelerate the performance of our people and our business.
As we think about today’s climate and the need for companies to be more representative of the world around them, it’s important to note that Micron is committed to its DEI journey and the value it drives across the business. This commitment begins at the very top with our CEO and is equally valued by our board of directors.
With support from our leadership, Micron has made significant gains with its DEI commitments in a short amount of time. Our six commitments underscore how we hold ourselves accountable and drive meaningful change: 1) Increase representation of underrepresented groups; 2) Drive equitable pay and benefits; 3) Strengthen our culture of inclusion; 4) Advocate for gender, LGBTQ+ and racial equality; 5) Engage with diverse financial institutions for cash management; and 6) Increase representation and spend with diverse suppliers.
We also know that to propel the kind of transformational change that’s true to Micron’s tenacity, our leaders and team members must be in this together. That’s why our commitments are embedded in our business with goals tied to team member and executive compensation. We believe that our success hinges on actions to include underrepresented communities in every aspect of our business from hiring to supplier diversity. We are investing in K-12, historically Black colleges and universities (HBCUs) and higher education programs to spur enthusiasm in STEM careers and to build a more inclusive and representative workforce. Our employee resource group (ERG) leaders are awarded stock grants for their service — a benefit we’re proud to offer and that differentiates us from most companies with our size and scope. Finally, through our investment in the future of leading edge memory in the U.S. and globally, we will do so with an unwavering commitment to the communities and diversity that is at the heart of who we are at Micron.
At Micron, our DEI journey is ever-evolving, and we know that it’s a marathon — not a sprint. We know we must continue to hold ourselves accountable and our leadership is focused every step of the way. In addition to our leadership, it takes every team member working together within Micron and even extends to our diverse suppliers and external partners. We are committed to doing the work by facing these challenges head on and, as the late writer James Baldwin prophetically stated, “Not everything that is faced can be changed; but nothing can be changed until it is faced. ” This is how we elevate the impact of our people on our business and in the global communities where we live, work and serve. This is how we ensure success for all.
