SANTA CLARA, Calif.--(BUSINESS WIRE)--
Another Important Step in the Company’s Journey Toward Global Inclusion
The following is an opinion editorial by Julie Ann Overcash of Intel Corporation.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190122005017/en/
Today, Intel announced a major milestone in global inclusion – achieving gender pay equity across our worldwide workforce while also adding stock-based compensation to its pay equity analysis. Our commitment to achieving gender pay equity is central to making Intel a truly inclusive workplace, which we believe is a key factor in employee performance, productivity and engagement. A diverse workforce and inclusive culture are essential to our evolution and growth.
Intel defines pay equity as closing the gap in the average pay between employees of different genders or races and ethnicities, where data is available, in the same or similar roles after accounting for legitimate business factors that can explain differences, such as performance, time at grade level and tenure.
In addition to expanding pay equity to our global workforce, we have also evolved our methodology to take a more comprehensive approach to analyzing our global workforce pay data and closing identified gaps. In the past, adjustments were only made to the cash portion of employees’ compensation, meaning base pay and bonus. In 2018, we began evaluating total compensation, including stock grants.
With a diverse workforce of approximately 107,000 regular employees in over 50 countries, identifying and closing gender pay equity gaps is a complicated task. Our legal and human resources teams worked with an external vendor to use proven statistical modeling techniques to identify countries where a gender pay gap existed. Individual employees in these countries who were identified as having a gap received appropriate adjustments.
Different countries have varying legislation around how pay equity is measured. In the U.K., for example, the data compares the average employee compensation for all men to all women. The result of this measurement methodology reflects that Intel has a lower representation of women in senior roles. This is a gap we – and the entire technology industry – are working hard to address. We continue to improve representation and progression opportunities for women at Intel, in all countries in which we do business.
Our work in pay equity is never done. We will continue to assess and close pay gaps to maintain gender pay equity globally. We will also maintain race and ethnicity pay equity in the U.S.
In October, we announced reaching full representation in our U.S. workforce two years ahead of our 2020 goal. Global pay equity is another step in our journey to create a more inclusive workplace where all employees feel supported and empowered to create the future.
I am proud to highlight Intel’s ongoing commitment to doing what’s best for all of our employees. We encourage all companies to join us in making pay equity a global priority.
Julie Ann Overcash is vice president of Human Resources and director of Compensation and Benefits at Intel Corporation.
Intel (INTC), a leader in the semiconductor industry, is shaping the data-centric future with computing and communications technology that is the foundation of the world’s innovations. The company’s engineering expertise is helping address the world’s greatest challenges as well as helping secure, power and connect billions of devices and the infrastructure of the smart, connected world – from the cloud to the network to the edge and everything in between. Find more information about Intel at newsroom.intel.com and intel.com.
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