Micron Technology, Inc. (Nasdaq: MU), released third annual diversity, equality and inclusion (DEI) report, demonstrating advances with regionalized commitments and initiatives across the U.S., Asia and Europe. The report measures progress to create a positive, diverse culture for the company’s stakeholders and examines various facets, including race and ethnicity, gender, compensation and giving.
Micron’s efforts, including the appointment of Lynn Dugle to its board of directors, drove steady growth in the number of women in technology and leadership roles in fiscal 2020 (FY20). Dugle’s appointment increased female representation on Micron’s board to more than one-third. In India, Micron’s focus on accelerating hiring of female technical talent through partnerships with university engineering programs and diverse colleges resulted in a by 22% increase in NCGs in FY20.
In addition, the company doubled the number of team members self-identifying as living with disabilities and increased membership in its employee resource groups (ERGs) by 84%. Among the 25 new ERG chapters Micron created worldwide, three were established in Hyderabad and Bengaluru. These chapters focus on different forms of diversity, from empowering women through Micron Women’s Leadership Network, embracing LGBTQ+ with Pride + Allies group to fostering acceptance and creating communities of understanding by the the Micron Young Professionals ERG.
To further demonstrate the company’s commitment to equality, Micron expanded its pay equity mandate this year to include stock awards and achieved full parity for these awards for all underrepresented groups globally.
“Micron’s commitments further reinforce our strong support toward building a more inclusive workplace and society grounded in equality where underrepresented groups have ample opportunity to advance at all levels,” said Micron Vice President of Diversity, Equality and Inclusion Sharawn Connors. “We value the diverse voices and perspectives of our team members around the world, they play an important role in influencing meaningful change in Micron’s business and the communities in which we operate.”
In addition to making powerful commitments to adopt new hiring practices and to engage in targeted programs to strengthen DEI within Micron globally, the company identified key areas outside its business that it deems essential to creating deep and lasting gains toward a more inclusive economy. Micron’s total support for firms owned and managed by members of underrepresented groups totaled $250 million in calendar 2020. Micron has extended its focus to the supply chain and aims to double its annual spending with diverse-owned suppliers by fiscal 2023.
Micron’s annual DEI report also details its efforts throughout the year to address underserved communities’ needs. These include prioritizing the Micron Foundation’s funding to help underrepresented groups during the pandemic, especially families disproportionately affected by COVID-19, and contributing $1 million to communities in India. Micron has also formed a global social justice council to facilitate conversations with leaders in the communities where it operates and work toward identifying actionable solutions to drive significant change.