Micron Releases ‘We Are Micron’ 2022 Diversity, Equality and Inclusion Report

KOCHI:
Micron Technology, Inc. (Nasdaq: MU), released its fifth annual diversity, equality and inclusion (DEI) report titled, “We are Micron,” to mark progress and achievements across its six DEI commitments.

“These commitments hold Micron accountable to seek greater diversity, drive equal pay and benefits, strengthen our culture of inclusion and be a positive force for all,” said Micron President and CEO Sanjay Mehrotra. “Our commitment to DEI extends globally. It is embedded in our business practices and in our investments for the future.”

As Micron expands its global leading-edge manufacturing and R&D capability over the next decade, the company has made significant commitments that will help build the diverse workforce for the future. These efforts build on Micron’s commitment to growing a diverse STEM talent pipeline in the communities where it does business.

“We are proud of the meaningful progress our team is making to foster diversity, equality and inclusion inside and outside the company,” said April Arnzen, senior vice president and chief people officer at Micron and president of the Micron Foundation. “At Micron, we believe that respecting and valuing diversity encourages our team members to share their unique perspectives and fuel innovation and creativity, and that’s why we continue to focus on DEI at all levels of the company.”

“We Are Micron” DEI Report Highlights
Micron’s female workforce increased globally for the fourth year in a row, now representing 31% of the global workforce and trending ahead of the industry average. The company’s percentage of women increased for vice presidents, senior leaders and leaders in technical positions around the globe. More than 22% of the original patent applications that Micron filed in fiscal year 2022 (FY22) named a woman as an inventor, for a total of 182 female team members — an increase of 10% over FY21. As a part of Micron’s growth, Micron is committed to supporting women and families by identifying quality, affordable and accessible child care solutions for the direct workforce and broader community globally. This includes FY23 investments and partnerships in Malaysia and the United States to provide affordable world-class child care facilities and support to Micron employees.

Micron actively participates in diversity and inclusion indexes, listed on the Bloomberg Equality Index for the first time this year and achieving a perfect score on the U.S. Human Rights Campaign’s Corporate Equality Index for the second year in a row. Also, for the first time, in FY22, Micron India and Micron Japan received recognition, through the India Workplace Equality Index and Japan Pride Index, respectively, for their inclusion of the LGBTQ+ community. Micron participated in the 2022 Disability Equality index for the second time and was named on its list of Best Places to Work for Disability Inclusion.

“Prioritizing DEI in the workplace helps ensure that all individuals are treated with dignity and respect,” said Anand Ramamoorthy, vice president and managing director of Micron India. “Micron’s impressive growth and leadership in India has been underpinned by our conscious efforts to engage without bias.”

In 2021, Micron achieved comprehensive global pay equity for all underrepresented groups, for base pay, cash bonuses and stock awards among veteran, Black or Hispanic/Latino employees in the United States, as well as for gender and people with disabilities globally. For the first time in FY22, Micron included race and ethnicity outside the U.S. to include Malay in Singapore.

Micron’s 10 employee resource groups (ERGs), with 82 chapters around the world, provide community and allyship for team members from diverse groups. Membership in Micron’s ERGs grew 47% this year, with 39% of the total workforce now belonging to at least one ERG. ERGs are foundational to Micron’s DEI programs, and for the first time, Micron rewarded the contributions of ERG leaders by providing them with stock grants in honor of their service.

“Micron’s ERG members ignite inclusion in our company,” said Vice President and Chief Diversity Inclusion Officer Fran Dillard. “They are powerful ambassadors, allies and the embodiment of what it means to be for all.”

From high schools to college campuses, ERG members continuously engage with young people, introducing the possibilities of STEM careers. This year, Micron celebrated the expansion of its Chip Camp program from Boise to its sites in Asia, including Hyderabad and Bengaluru in India, as the company seeks to increase access to STEM education around the world.

In addition to strengthening DEI internally, Micron partnered with businesses in key areas to build a more inclusive economy while supporting underrepresented communities. Micron has increased the use of diverse financial firms for our investments, debt issuance and share repurchases. In FY22, Micron achieved its goal to have $500 million in cash investments managed by underrepresented financial firms. In FY23, the company intends to increase that amount to $750 million and evaluate opportunities to leverage community and minority financial institutions as the company grows in the U.S. In addition, Micron achieved a spend of $454 million with diverse suppliers, exceeding its goal of $404 million for FY22.