Medtronic (NYSE:MDT) announced today that it was one of three recipients of the 2020 Catalyst Award in recognition of the its initiatives for fostering a workplace in which women can advance.
The medtech giant said it is being recognized by Catalyst, a nonprofit seeking to build “workplaces that work for women,” for its Medtronic Women’s Network (MWN) and Women in Science and Engineering (WISE) initiatives, which contribute to its inclusion and diversity strategy.
Medtronic chairman & CEO Omar Ishrak refocused the MWN in 2013 to expand its diversity in perspectives. The network is run by employee volunteers with more than 15,000 members across 68 countries.
The WISE program centers around the advancement of women in R&D and STEM roles with the goal of building an inclusive work environment for women in science and engineering through outreach, recruiting, talent development and cultural awareness programs. Medtronic said WISE teams are active across 70 company sites in the U.S., Canada, China, Europe, India, Israel and Japan.
Between 2015 and 2019, Medtronic said the number of women leaders at the company grew from 32% to 38%, while women in VP roles increased from 24% to 30% and women at the director level increased from 20% to 36%. Women in research & development roles increased from 24% to 29% and the company added that women produce 40% of its therapy sales.
“To us, this is more than hitting a number,” Ishrak said in a news release. “This is about creating a more inclusive culture that values all dimensions of diversity, because a more diverse culture fosters a more innovative culture, and innovation fuels our company growth.”
“We are known for innovation, and we need women in the mix,” added Carol Malnati, Medtronic’s VP of R&D for the cardiac rhythm and heart failure division. “Attracting and developing women, including female engineers, is a core strategy.”
Medtronic will be honored at the Catalyst Awards Conference & Dinner on March 12, 2020, in New York City.
