ESG Report: Medtronic drives positive impact for people & planet

ESG Report: Medtronic drives positive impact for people & planet

 October 12, 2022

Medtronic sees extraordinary possibilities to drive positive impact for its people and the planet and has released its FY22 environmental, social, and governance (ESG) report, showcasing its commitment and achievements. Since 2008, Medtronic has publicly reported its ESG performance and progress.

Read Medtronic's Engineering Impact 2022 Integrated Performance Report.

Accelerating diversity in management 

Medtronic says: "In a time of significant global challenge and change, we remain dedicated to our Mission to alleviate pain, restore health, and extend life — guided by environmental, social, and governance (ESG) priorities that put people first. Our 95,000+ full-time employees share our vision to boldly attack the most challenging health problems facing humanity through innovative technological solutions. Together, we engineer the extraordinary."

Medtronic holds itself accountable and states five key goals: 

  • Achieve carbon neutrality in its operations by FY30
  • Reduce the climate impacts of its products and packaging
  • Serve 85 million patients annually by FY25 
  • Advance patient safety and product quality 
  • Accelerate diversity in management 
    - 30% ethnically diverse talent in U.S. manager-and-above roles by FY26
    - 45% women in manager-and-above roles globally by FY26 

Uniting diverse experiences and perspectives

Chairman & CEO, Geoff Martha, highlights that fostering inclusion, diversity and equity is key to innovation. "Innovation is a people-powered business. An inclusive workforce unites diverse experiences and perspectives in an environment where they are valued and shared — driving technology forward and empowering all to reach their highest potential," Geoff Martha explains. 

"A convergence of backgrounds and experiences allows us to create life-saving products and therapies that benefit all patients while expanding the number of conditions we can treat. Diversity in leadership is key to this. In FY22, women held 42% of manager-and-above positions globally and people from ethnically diverse groups held 27% of manager-and-above positions in the United States, which is strong progress toward our FY26 goals of 45% and 30%, respectively."

Meanwhile, Executive Vice President & Chief Financial Officer, Karen Parkhill, states that employees share Medtronic's vision to boldly tackle the most challenging health problems facing humanity while upholding its reputation as a company of dedication, honesty, integrity, and service. "Our ESG priorities directly reflect our vision and values," she says. 

Sharing diverse perspectives, bold thinking, and a desire to win

Across every operating unit, Medtronic encourages and enable its employees to share diverse perspectives, bold thinking, and a desire to win.

Medtronic leverages its business structure to:

  • Accelerate innovation-driven growth —by delivering technology and services that better address patient needs.
  • Bring its technologies to emerging markets — by providing targeted support, along with broad autonomy for regional teams to respond quickly to local needs.
  • Create better experiences for patients, customers, and employees — by listening more closely to understand challenges and using that insight to shape solutions.
  • Turn data, artificial intelligence, and automation into action — by tailoring therapies in real time, facilitating remote monitoring and care delivery, and bringing robotics to more surgical suites around the world.

Fostering gender equality in the workplace 

Medtronic supports female talent through its hiring practices and in its broader inclusion, diversity and equity efforts.

Medtronic achieved 100% ethnically diverse and gender pay equity in the U.S. and 99% gender pay equity globally.

In progressive figures:

  • 50% of the global workforce is women
  • 42% of global managers are women
  • 39% of the U.S. workforce are ethnically diverse 
  • 27% of U.S. managers are ethnically diverse 

Delivering better outcomes for the world

The company's philanthropic contributions address inequities in healthcare and education, and it works to promote greater diversity and inclusion among its employees and suppliers.

To deliver patient-first healthcare solutions to those who need them most, Medtronic works with a resilient and innovative pool of trusted partners.

Supporting a global workforce of engaged employees 

According to Medtronic, recognizing a job well done is essential. "Managers are encouraged to acknowledge employee achievements during formal evaluations and general check-ins. They may also reward notable contributions through our Recognize! Platform, which enables managers and employees to celebrate the achievements, accomplishments, and milestones of team members," shares Medtronic. 

Medtronic also has a formal awards program to recognize exceptional achievements in technology, quality, leadership, and ethics.

To continuously improve the employee experience, Medtronic uses Organizational Health Survey (OHS) results and other employee feedback to adjust how it operates and interact with one another. For example, only 60% of respondents rated their stress levels as being reasonable. With this information, Medtronic us taking steps to support employees and lessen work-related stress.

Read the ESG report in full.


Medtronic champions a diverse workforce 

Medtronic's employees are the heart of the company. Their diverse backgrounds and perspectives bring passion to Medtronic's work, spark innovation, and drive opportunity.

Become an employee with passion - search Medtronic's latest jobs

 

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Disclosure: Where Women Work researches and publishes insightful evidence about how its paid member organizations support women's equality.

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