Micron Achieves Comprehensive Global Pay Equity For All Underrepresented Groups

Rhea-AI Summary

Micron Technology, Inc. (Nasdaq: MU) has achieved global pay equity in total employee compensation, including base pay, bonuses, and stock rewards. This milestone supports the company’s diversity, equality, and inclusion (DEI) initiatives. Micron's approach, which extends beyond gender pay equity to include various underrepresented groups, aims to enhance employee well-being and retention. The company utilizes technology to address pay variances and ensures that all team members feel valued and respected. Micron’s commitment to DEI informs its strategic goals and operations globally.

Positive

• Achievement of global pay equity across all employee compensation.
• Focus on inclusivity by addressing pay equity for various underrepresented groups, not just gender.
• Enhancing employee well-being to drive business success.

Negative

• None.

Pay gap eliminated in total employee compensation across base pay, bonuses and stock rewards

BOISE, Idaho, March 23, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), today announced that it has reached comprehensive global pay equity in total employee compensation across base, bonuses and stock rewards. Last year, the company set a goal to achieve pay equity for all employees as a key pillar of its diversity, equality and inclusion initiative. In line with the company’s commitment to drive equal pay, inclusive benefits and fairness in its people practices, this new milestone reinforces Micron’s focus and commitment to create an environment where every team member is valued and respected.

“Providing fair and equal pay for all team members is key to driving employee wellbeing, passion and confidence that is critical to the success of Micron’s business,” said April Arnzen, chief people officer at Micron. “While many companies focus on base pay alone, we recognize that full compensation equity requires a holistic approach. Equal pay is foundational to an inclusive culture in which people can thrive.”

Micron uses technology to analyze and understand pay variances, and makes adjustments to eliminate statistically significant differences in compensation for underrepresented groups and their corresponding majority groups. Initially Micron focused on gender pay equity, which it achieved globally for women in 2018. The company has expanded its analysis to include all underrepresented groups, including a global look at people with disabilities, as well as veterans, Blacks and Hispanics/Latinx in the U.S.

“Reaching pay equity for all and expanding our study to reach beyond gender is a major milestone,” said Sharawn Connors, vice president of diversity, equality and inclusion (DEI) at Micron. “Creating a workplace where everyone is confident that their compensation is fair and equitable and based on merit helps us attract the best people and retain them.”

Micron is committed to DEI and has embedded initiatives in its business and operations around the world. The company set strategy-driven DEI commitments for FY21 in inclusion, hiring, giving and investments in minority-owned institutions. For more information about Micron’s DEI commitments, programs and efforts, visit micron.com/dei.

About Micron Technology, Inc.  
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2021 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. 

Micron Media Relations Contact 
Erica Pompen 
Micron Technology, Inc. 
+1 (408) 834-1873 
epompen@micron.com 
 
Micron Investor Relations Contact 
Farhan Ahmad  
Micron Technology, Inc.  
+1 (408) 834-1927 
farhanahmad@micron.com    

FAQ

What recent pay equity milestone did Micron Technology announce?

Micron Technology announced achieving comprehensive global pay equity in total employee compensation.

How does Micron Technology approach pay equity?

Micron uses technology to analyze pay variances and make adjustments for underrepresented groups.

What groups does Micron Technology include in its pay equity analysis?

Micron includes women, people with disabilities, veterans, Blacks, and Hispanics/Latinx in the U.S. in its pay equity analysis.

What is Micron's commitment to diversity and inclusion for FY21?

Micron set strategy-driven DEI commitments related to inclusion, hiring, and investments in minority-owned institutions.

Why is equal pay important to Micron Technology?

Equal pay is foundational for creating an inclusive culture where employees can thrive and is critical for the company's success.