Measuring Diversity In The Biotech Industry: ADVANCING .

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KEY FINDINGSMeasuring Diversityin the Biotech Industry:ADVANCING EQUITYAND INCLUSIONJune 2021

Measuring Diversity in the Biotech Industry: Advancing Equity and Inclusion

WHY THIS STUDY?In 2020, BIO partnered, for the second consecutive year, with Coqual, an industry-leadingthink tank devoted to diversity, equity, and inclusion (DEI) in the workplace, to investigatethe state of DEI in the biotechnology industry.Number of employees (n 100)1%This report analyzes the findings from a voluntarysurvey sent to BIO member companies,202013%29%10%23%10% 14%Samplefielded in the fall of 2020. Data is included from the 100 companieswho responded.To4%possible,5%measure year-over-year progress on DEI in the industry, the report also notes, where2019shifts from BIO’s inaugural 2019 report, “MeasuringDiversity 28%in the BiotechBuilding19%18% Industry:16%10%Samplean Inclusive Workforce.” 10 501–1,000THE BIOTECH INDUSTRY REMAINEDSTRONG AMIDST GLOBAL CRISISIn a year shaped by the COVID-19 pandemicand economic downturn, many industriesshowed shrinkage or downsizing overall.By contrast, more than one in four (26%)companies within this year’s sample grewin size between the beginning of 2019 andthe end of 2020. Approximately seven in ten(71%) stayed about the same size (Fig. 1). 11–50 1,001–10,000 51–100 10,000 101–500Figure 1. Change in number of employees from 2019 to 2020 (n 100)Change in number of employees from 2019 to 2020 (n 100)3%26%71% Companies that shrank Companies thatstayed the same size Companies that grew1

GENDER DIVERSITY:REPRESENTATION OF WOMENREMAINS LOW AT SENIOR LEVELSIn 2020, women made up 47% of totalemployees, but only 31% of executive teamsand 23% of CEOs (Fig. 2). However, there hasbeen progress—within the companies in thisyear’s sample, the data showed a directionalincrease in representation from 2019 to 2020:35% of companies increased representationof women employees by at least 5%, and 43%of companies increased representation ofwomen at the executive level by at least 5%.Figure 2. Representation by gender (2020)Total employees (n 21)47%53% Women Men Non-binary/genderfluid Not disclosedExecutive (n 22)31%69% Women Men Non-binary/genderfluid Not disclosedCEO (n 79)1%23% Woman Man Not disclosed76%Lorem ip2Measuring Diversity in the Biotech Industry: Advancing Equity and Inclusion

RACIAL/ETHNIC DIVERSITY:REPRESENTATION OF PEOPLE OFCOLOR REMAINS LOWRepresentation for employees of colorcontinues to be a mixed story. Employees ofcolor make up 32% of the overall workforce,21% of executive teams, and 24% of CEOs(Fig. 3). One in five companies in this year’ssample decreased in representation ofemployees of color at the executive levelfrom 2019 to 2020 by at least 5%, and only13% increased representation for executivesof color by at least 5%.COMPANIES MADE PROGRESS INTHEIR COMMITMENT TO D&IThe 2020 data showed a focus on internaland public-facing commitment to D&I. Sevenin ten respondents list D&I as one of theirorganization’s stated values or priorities;less than half (46%) said the same in 2019(Fig. 4). The proportion of organizations thathave a stated goal of creating an inclusiveenvironment has nearly doubled—from 32%in 2019 to 61% in 2020 (Fig. 4). More thanhalf of organizations (56%) have a publiccommitment to diversity, an increase from39% last year (Fig. 4).Figure 3. Representation by race and ethnicity (2020)Total employees(n 18)Exec(n 14%Native American/Alaskan Native0.1%0%Native Hawaiian/Pacific IslanderRace and ethnicity0.3%0%2 races2%0.4%Not disclosed3%0.5%CEO (n 70)1%1%13%6%4%74% WhiteBlackHispanic/LatinxAsian2 racesNot disclosedFigure 4: Which of the following statements are trueat your organization? (n 93)D&I is one of myorganization’sstated values orprioritiesMy organizationhas a stated goalregarding creatingan inclusiveenvironmentMy organizationhas a publiccommitment todiversity70%46%61%32%56%39% 2020 20193

BUT FEWER ORGANIZATIONS HOLDTHEIR LEADERS ACCOUNTABLE FORACTIONIn a step backward from last year, only 39%of respondents indicate that leaders at theircompany are tasked with specific D&I goals(compared to 53% in 2019) (Fig. 5). Barelytwo in five (39%) have systems in place tomeasure leaders’ progress toward meetingtheir D&I goals (Fig. 5) and only 20% ofrespondents say that D&I metrics impactperformance evaluations and compensationfor leaders (Fig. 5).Figure 5: Leadership Accountability for D&IWhich of the following best describes accountability fordiversity and inclusion within your organization? (n 41)*Leaders at mycompany aretasked withspecific D&I goals39%53%My organizationmeasures leaders’progress towardmeeting theirdiversity andinclusion goalsD&I metricsimpactperformanceevaluations andcompensationfor leaders39%40%20%13% 2020 2019LEADERSHIP ACCOUNTABILITYEXAMPLEWe asked companies: “Please describe theprogram(s) you believe have had the greatestimpact on diversity, equity, and inclusion inyour organization.”We recently launched a dashboard that willallow our leaders to have a better idea of whois in their organizations, which will lead togreater accountability for leaders to know whois underrepresented. Our Talent Acquisitionteam has also revamped their DE&I strategy,and our HR Partners are actively goingthrough peer-to-peer learning sessions toenhance their DE&I capability.* The below questions were only asked of organizations that indicated they have D&I programming4Measuring Diversity in the Biotech Industry: Advancing Equity and Inclusion

COMPANIES ARE MISSING THE FULL“BUSINESS CASE” FOR D&IWhile nearly 7 in 10 companies see the connection betweenD&I and business results, fewer realize the potentialgrowth in their top line from D&I: 52% of respondentsreport “serving a broader and more diverse set ofcustomers” and 50% report “encouraging employees tosurface innovative ideas for diverse target markets” aspriorities of their organization’s D&I program (Fig. 6). Thisdata indicates that companies can better embrace thecompetitive edge that D&I investment unlocks.DATA COLLECTION IS CRITICAL—YET REMAINSINCONSISTENTThe number of companies that collect data aroundD&I rose from 59% in 2019 to 80% this year, but thethoroughness of the collection varies. Few companiescollect data on discrepancies in promotion (39%) orperformance ranking (23%) by gender, race, ethnicity,or another dimension of diversity (Fig. 7). Furthermore,because few organizations formally collect demographicdata from their Board members, this year’s survey didnot have enough sample to include average breakdown ofBoards by gender and race/ethnicity.COMPANIES ARE EXPERIMENTING WITH ANDIMPLEMENTING A VARIETY OF DEI INITIATIVESTo understand how companies are acting on their growingcommitment to DEI, we showed respondents a list of 30DEI solutions—an expanded list from last year’s survey—and asked which, if any, are currently in place at theirorganization to support their DEI efforts.Figure 6: What are the priorities of your organization’sdiversity and inclusion program? (2020) (n 42)Achievingbusiness results69%Supporting orallocatingbusiness todiverse suppliersand vendors57%Serving a broaderand more diverseset of customers52%Encouragingemployees tosurface innovativeideas for diversetarget markets50%Responding tocustomerexpectations40%45%CompensationFigure7: Which of the following typesof data does yourdiscrepancies44%organization gather and analyze? (n screpanciesdiscrepancies30%Feedback from9%customersonPerformance23%our diversityranking2%18%practices discrepanciesFeedback fromcustomers onour diversitypractices2020 20199%2% 2020 20195

Figure 8: Which of the following does your organization have or do to support its diversity and inclusion efforts? (n 86)Dotted line indicates 2019 data, where available80%Accountability for harassment regardless of seniority or performanceClear channels for reporting discrimination or bias77%Anti-bias or discrimination policy77%72%Paid family leave63%Commitment to pay equityAccountability for bias regardless of seniority or performance59%55%Advice/training for all employees on giving feedback53%Networking opportunities for employees across the organization49%Confidential ways to give feedback about managersRequirement that job postings consider internal candidates45%Leadership development programs44%Manager trainings on how to behave inclusively44%Unconscious bias trainings44%42%Support for ERGs or affinity groupsRegular communications about D&I for employees38%Diverse slate of candidates for all open positions38%360 degree performance reviews36%Opportunities for woman/people of color to network with leaders33%Materials that clarify how promotions work available31%Diverse slate of candidates for senior positions31%Mentorship programs30%29%Clear and equitable succession planning processTrainings on how and why to hire diverse teams27%Diverse hiring committees27%22%Considers workforce diversity in leader evaluationsPrograms for short-term job experience in another department21%Sponsorship programs20%16%A supplier diversity program6Blinded resume reviews7%On-site daycare or eldercare6%Measuring Diversity in the Biotech Industry: Advancing Equity and Inclusion Trust buildingNetworking, reviews, and hiringTraining and formal D&I programmingPolicies to drive equity

DEI INITIATIVES IN ACTIONWe asked companies: “Please describe the program(s) you believe have had the greatest impacton diversity, equity, and inclusion in your organization.”Transparent reportingon compensation andpromotion of womenand people of color.[Our managers] are required to take annual unconscious bias training,encouraged to participate and support their teams participatingin our D&I initiatives. We provide education, training, and resourceson diverse and inclusive hiring and promotion—via live training andwithin our learning management system.We are learning to take an antiracism approach to all our work.Every employee’s situation is unique.We made sure our employees know we understandthe challenges.COMPANIES ARE HIGHLY FOCUSED ONTRUST BUILDINGCompanies in the biotech industry again drew on a rangeof initiatives to support their D&I efforts. Many of themost common initiatives among this year’s respondentsfall in the focus area of building trust with employees, inparticular around having no tolerance for inappropriatebehaviors. More than three quarters of companies (77%)have anti-bias or discrimination policies (Fig. 8). Thesame percent (77%) provide clear channels for reportingexperiences of discrimination or bias (Fig. 8).TRAINING AND FORMAL D&I PROGRAMMINGGREW IN POPULARITYTwo D&I programs stood out in increased popularitysince last year: The number of companies conductingunconscious bias trainings doubled, from 22% to 44%,and those conducting manager trainings on how tobehave inclusively increased from 24% to 44% (Fig. 8).THE INDUSTRY MADE EFFORTS TO MEETTHE MOMENT2020 was marked by twin crises: COVID-19 and the eventsthat prompted a racial justice crisis. Biotech companiestook action to address COVID-19-related challengesfor all employees and pivoted their programming toacknowledge newly visible inequities across gender,race, and beyond. Several themes emerged: flexibility,health and wellness, and education on DEI, as well asdialogue around systemic inequities. Companies are morecommitted than ever to tuning into their employees’most pressing concerns.7

PART 3: WHERE TO GO FROM HEREMETHODOLOGYCoqual developed a four-stage maturity curve to mapthe progress of companies in their diversity, equity, andinclusion efforts. The maturity curve offers a usefulframework for BIO members, from start-ups to largemultinational companies, to ground and guide their DEIstrategy and implementation.The research in this report comes from a survey written byCoqual in partnership with BIO. The survey was informedby a literature review of existing DEI industry studies aswell as findings from last year’s report. The survey wasconducted online by Coqual from October to December2020, with 100 respondents. Each respondent was from aseparate BIO member company and completed the surveyas a representative of their company.Where an organization is on Coqual’s curve will influencewhat level, type, and sequence of action the companyshould take to improve diversity, equity, and inclusion.Companies may find themselves in several stages at thesame time depending on different DEI focus areas. Readour full report for targeted strategies companies canimplement today.1.Diagnose. Gather data to define the current state of DEI andmake the case for action.2.Educate. Ensure the importance of DEI as well as key DEIprinciples are understood across the organization.3.Pilot. Launch pilot programs to assess impact, gain buy-inand adjust implementation parameters.4.Scale. Grow pilot programs to broad use and embed DEIprinciples with individuals and in the organization.Respondents included in our sample for analysisanswered at least 50% of the questions they were shown,excluding questions on demographic representation.Because the overall composition of the 2019 and 2020samples are relatively similar (e.g., in company size,revenue, geographic location, and other factors detailedon page 7 of the full report), data from the 2020 sampleis compared to data in last year’s report when possible.In the charts featured throughout, percentages may notalways add up to 100 because of computer rounding and/orthe acceptance of multiple responses from respondents. Allcharts only report sample size (“n”) for our 2020 data. Forthe purposes of this report, the terms “organization” and“company” are used interchangeably to represent ing Diversity in the Biotech Industry: Advancing Equity and Inclusion

DIVERSITY, EQUITY &INCLUSION AT BIOBIO is committed to providing access to talent, access to capital, and building trust withconsumers and patients.BIO Equality AgendaBIO Board InitiativeA national effort in collaboration withour partners and member organizationsin the biotechnology sector that aimsto counteract the systemic inequality,injustice, and unfair treatment ofunderserved communities.A collaborative initiative to advancecorporate board diversity by identifyingpartners and experts in corporategovernance, connecting future andcurrent corporate leaders, and providingresources and best practices.Measuring Diversityin the Biotech IndustryAn annual survey and report trackingdiversity and inclusion programs,policies, goals, and representationwithin BIO member companies.Visit bio.org/dei to access resources for the industry.9

Blinded resume reviews On-site daycare or eldercare Dotted line indicates 2019 data, where available. 7 . Companies in the biotech industry again drew on a range of initiatives to support their D&I efforts. Many of

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