Union Pacific Showcases DE&I Leadership: Pay Equity, Majority-diverse Board

Rhea-AI Summary

Union Pacific (NYSE: UNP) announced its commitment to diversity, equity, and inclusion (DE&I) in its second annual We Are One report. Significant highlights include achieving a majority-diverse board at 60% and receiving third-party validation of pay equity for women and people of color. The report states that average railroad salaries will reach $110,000 by 2024 due to a 24% pay boost. Furthermore, hiring incentives up to $50,000 were implemented to attract talent, and progress is being made toward goals of doubling women in the workforce and increasing people of color representation to 40% by 2030.

Positive

• Achieved a majority-diverse board at 60%.
• Third-party validation of pay equity for women and people of color.
• Projected average railroad salaries of $110,000 by 2024 due to a 24% pay boost.
• Hiring incentives up to $50,000 to attract talent.

Negative

• None.

Board diversity, equal pay, awards amplify Union Pacific's commitment to diversity, equity and inclusion in new We Are One Report

OMAHA, Neb., March 7, 2023 /PRNewswire/ -- Union Pacific Railroad today announced it received third-party validation of pay equity for women and people of color and that its board of directors is now majority-diverse – steps underscoring the railroad's commitment as an industry leader in diversity, equity and inclusion (DE&I). The announcements are included in Union Pacific's second annual We Are One report, published today, which highlights Union Pacific's strategy for creating a diverse workforce while remaining steadfast in its vision of building America.  

"Union Pacific is committed to supporting the transition to a more sustainable future, one that fosters diverse and inclusive environments, provides innovative economic solutions, pursues clean air and plentiful water supplies, and improves the quality of life for everyone," said Beth Whited, executive vice president – Sustainability and Strategy, and Chief Human Resource Officer. "The achievements highlighted in the report showcase our efforts to create an attractive workplace that inspires current employees to build fulfilling careers and attracts new team members."

Union Pacific continues to prioritize diversifying its workforce by doubling its representation among women by 2030. Pay equity is an important part of attracting and retaining talent at a time when U.S. Census data is still reporting full-time working women earn 83 cents to every dollar earned by men.  

Knowing that inclusive leadership starts at the top, Union Pacific's board of directors became majority diverse at 60% for the first time in 2022. It is the result of deliberate steps to ensure the company's leadership reflects the evolving representation of the railroad's workforce and communities where employees live and work.

Other report features include:  

• Historic wage increases yielded a 24% pay boost for craft professionals, pushing average railroad salaries to $110,000 per year by 2024.
• Accelerated recruitment efforts helped to exceed hiring goals, including incentives up to $50,000 in some markets to attract top talent.
• Steady progress made toward 2030 diversity goals of doubling women in the Union Pacific workforce and increasing people of color representation to 40%.

The report also details recent recognition for Union Pacific, including:

• Becoming the only railroad to earn 100% on The Human Rights Campaign Foundation's Corporate Equality Index for LGBTQ+ equality.
• Ranked No. 1 by Just Capital in America's Most Just Companies' transportation category.
• Named as one of Fortune magazine's World's Most Admired Companies and the highest ranked railroad in the trucking, transportation and logistics category.
• Recognized by the Women's Choice Awards as a Best Company to Work For across the Women, Diversity and Millennials categories.
• Named by Disability:IN as a Best Place to Work for Disability Inclusion. 

Learn more about Union Pacific's team, DE&I goals, corporate strategy and policies and programs in the 2022 We Are One report.

ABOUT UNION PACIFIC

Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.

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www.facebook.com/unionpacific 

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SOURCE Union Pacific Railroad

FAQ

What are the key highlights of Union Pacific's We Are One report?

Union Pacific's We Are One report highlights a majority-diverse board at 60%, third-party validated pay equity for women and people of color, projected average salaries of $110,000 by 2024, and hiring incentives of up to $50,000.

What is Union Pacific's target for diversity in its workforce by 2030?

Union Pacific aims to double the representation of women in its workforce and achieve 40% representation of people of color by 2030.

When was Union Pacific's We Are One report released?

Union Pacific's We Are One report was released on March 7, 2023.

What salary increase can Union Pacific employees expect?

Union Pacific employees can expect an average salary of $110,000 by 2024, reflecting a 24% pay boost.

How does Union Pacific ensure pay equity?

Union Pacific received third-party validation confirming pay equity for women and people of color, highlighting its commitment to fair compensation.