May 6, 2020

DiversityInc Puts Medtronic On Its "Top 50" List For 2020

Recognized for the eighth year, Medtronic remains steadfast in its commitment to inclusion, diversity, and equity.

May 6, 2020 – Bo Nabozny had only worked at Medtronic for a few months when he first saw the company’s incoming chief executive officer, Geoff Martha, wearing a rainbow-colored badge signifying support for the LGBTQ+ community.

“To see a member of the executive team declaring their support for my community in such a visible way, that was the moment I realized Medtronic was walking the talk when it comes to inclusion and diversity,” said Nobozny, a senior manager in the Strategic Transformation group at Medtronic. “It was really an amazing feeling, especially for a new employee.”

Nabozny’s story is one of thousands at Medtronic that reflects the company’s efforts to build an inclusive, diverse, and equitable workplace for all. Announced this week, Medtronic is being recognized for its commitment on the 2020 DiversityInc Top 50 list. This year, the company rose to #33 on the list, up from #35 the year prior.

Company leaders credit the improved ranking to the work being done by employees at all levels of the organization. “Our inclusion and diversity strategy is deeply connected to our Mission, and fundamental to our ability to remain innovative and competitive within a complex global landscape,” said Dr. Sally Saba, Chief Inclusion and Diversity Officer at Medtronic. “We remain steadfast in our commitment to learn, grow, and lead in becoming a diverse talent destination and building equity in our global communities.” 

More Than Just Checking a Box

For its annual list, DiversityInc evaluates companies based on six categories: Human Capital Diversity Metrics, Leadership Accountability, Talent Programs, Workplace Practices, Supplier Diversity, and Philanthropy. 

Saba said prioritizing those areas is not just about checking a box. It’s part of a commitment to employees and the broader community that includes paying men and women the same (in the aggregate) for equal work, advancing women into leadership positions, and providing support and professional development opportunities that span race, gender, religion, and orientation.

Earlier this year, Medtronic was one of three companies to earn the Catalyst Award, which is given to corporations driving global change in the advancement of women leaders in the workplace. In the aggregate, the company has achieved 100% gender pay equity in several countries, including the United States, and 99% gender pay equity globally. Likewise, women hold 38% of global management positions, bringing the company closer to its 2020 target of at least 40%, with the ultimate aspiration of 50% or more globally. In the U.S., ethnically diverse talent also represents 22% of management positions, surpassing the company’s 2020 target of at least 20%.

To see a member of the executive team declaring their support for my community in such a visible way, that was the moment I realized Medtronic was walking the talk when it comes to inclusion and diversity.

Bo Nabozny Senior Manager Strategic Transformation, Medtronic

The company’s award-winning Supplier Diversity program is designed to increase supply chain diversity and innovation through partnerships with small, minority-owned businesses in the U.S. Since launching the program in 2003, Medtronic has not only gained a competitive advantage by utilizing the innovation and flexibility of a high-quality, diverse supply base, but the program is extending the shared value that diverse suppliers bring to their communities — increasing social mobility and improving the economic health of underserved areas. In fiscal year 2019, Medtronic made $1.7 billion in purchases of goods and services from small and minority-owned business in the U.S., including women, veteran, disabled, and LGBTQ+ owned businesses.

“At Medtronic, we’re focused on creating a more inclusive culture that values all dimensions of diversity, because we know a more diverse culture fosters a more innovative culture, and innovation fuels our growth,” said Geoff Martha, Chief Executive Officer, Medtronic. “Inclusion and diversity are critical for our future success and our ability to deliver fully on the Medtronic Mission.”

Grassroots Efforts Backed by Leadership Support

Employee Resource Groups (ERGs) have been part of the company’s culture for more than 30 years, helping foster an inclusive culture across the business by uniting employees around common interests. These employee-driven, grassroots groups provide forums for retirees, religious faiths, young professionals, veterans, and more.

Working in parallel with the ERGs are five Diversity Networks spearheading programs and policies that advance women, ethnically diverse, and LGBTQ+ talent into leadership positions. Each Network is led by an Executive Committee-level sponsor whose role is to advocate and help accelerate the work of the group. In 2020, more than 19,000 employees made up more than a dozen Diversity Networks and ERGs spanning 60 countries.

After attending a few events sponsored by the Medtronic Pride Network, Nabozny quickly joined the company’s steering committee for his local Pride chapter.

Supporting such efforts, he said, is one way he can help foster positive change among LGBTQ+ employees and the broader Medtronic community.

“A lot of companies talk about their support for the LGBTQ+ community but it’s clearly a part of the culture at Medtronic,” Nabozny said. “I felt it on my first day and every day since.”

For the full DiversityInc Top 50 list, click here