October 14, 2020 — Medtronic, a global leader in medical technology, has been named one of America's most JUST companies, ranking 29th overall on the 'Forbes JUST 100' list for 2021 and first in its industry category of Healthcare Equipment and Services. This placement recognizes companies doing right by all their stakeholders — workers, customers, communities, the environment, and shareholders — as defined by the American public.
Notable contributions that improved Medtronic's overall ranking and outperformance against peers on the JUST 100 list include:
- The company's global response to COVID-19.
- The company's focus on putting employees first by advancing inclusion, diversity and equity; paying a fair, livable wage; investing in training and workforce safety; and upholding basic human rights across its supply chain.
Meeting and Unprecedented Challenge with an Unprecedented Response
Using its mission as a roadmap, Medtronic mobilized to quickly respond to the pandemic with a focus on patients, customers and employees. To increase global access to ventilators, the company increased production fivefold and took the unprecedented step of publishing open-source design specifications for its portable, compact ventilator, in essence giving away the designs for free. The company provided vital products and therapies, turned competitors into collaborators, and kept employees and frontline healthcare workers safe. Additionally, Medtronic and the Medtronic Foundation giving in response to the global pandemic totals more than $45M.
Recognizing the Personal Worth of All Employees
Medtronic aspires to create a truly inclusive, diverse, and equitable workplace that fosters innovation and creativity, and where every employee feels a sense of belonging and well-being. In fiscal year 2020 the company reported achieving 100% gender pay equity in many countries, including the U.S., and 99% gender pay equity for employees globally – and is committed to closing all remaining gaps. Diversity and community intersect in the company's supply chain, where Medtronic spends billions of dollars with historically underrepresented business owners. In fiscal year 2020 Medtronic directed about $627 million of its U.S. supplier spend to diverse-owned companies, an increase of more than 10% compared to the prior year. Read more in the Medtronic 2020 Integrated Performance Report.
"Our deep commitment to global corporate citizenship drives everything we do," said Geoff Martha, Medtronic chief executive officer. "Medtronic has never been more focused on our purpose or clearer on our role as a responsible corporate citizen."
The annual JUST 100 rankings evaluate the 1,000 largest public U.S. companies across 19 issues and reflect attitudes toward responsible corporate behavior. This year's rankings also incorporated corporate performance on key issues related to the COVID-19 pandemic, such as providing hazard pay, paid sick leave, and community support. Read more about the JUST 100 methodology.
Medtronic Ranks #13 on Fortune's 2020 'Change the World' List
In September, Fortune announced that Medtronic had been selected for the 2020 'Change the World' list of 53 global companies. Fortune's annual list ranks companies on four criteria: measurable social impact; business results; degree of innovation; and corporate integration. The 2020 ranking for Medtronic is a first, with Fortune noting Medtronic made the 2020 list because of its swift efforts to mobilize its global supply of ventilators during the COVID-19 pandemic. Read more about Fortune's Change the World list methodology.
For more information: www.medtronic.com