Diversity, Equity & Inclusion
Commitment to DE&I
At Standex, we are committed to ensuring that Diversity, Equity and Inclusion (DE&I) is a top priority across our global organization. For us, DE&I begins first with valuing every employee for the unique individual they are and the skills and experiences they bring to Standex. We strive to create an environment where people feel welcomed and appreciated for the contributions they make every day. Standex does not condone any form of bias, prejudice, or intolerance and we have training to prevent, and policies and processes to address reports of such behavior, including an anonymous phone hotline managed by an external third party.
Annual DE&I Talent Assessment
Standex conducts an annual Organization and Talent Review (OTR) with each Business Segment President and their Human Resources Partner. Led by the CEO and CHRO, the OTR includes a DE&I analysis. Specifically, we analyze the gender and ethnic diversity of each business unit leadership team and management positions, with specific emphasis on identifying, developing and mentoring diverse high potential candidates for succession at every level. Additionally, we strive to continuously improve diverse representation in our engineering, operations and technical sales organizations and increase community outreach to STEM organizations and resources.
Standex provides mandatory compliance training on an annual basis in the areas of preventing harassment and unconscious bias and promoting respect of everyone regardless of race, gender, gender identification, age and sexual orientation. This training occurs at all levels throughout the organization.
DE&I Talent Acquisition
Standex strives to attract a diverse candidate pipeline for all open positions. Our Talent Acquisition Manager (TAM) partners with the business unit leadership teams to source and hire diverse candidates for key positions. Our business units also are endeavoring to cultivate relationships with more diverse communities in order to reach a broader talent pool.
DE&I Compensation Practices
Standex continuously evaluates its compensation practices to ensure pay equity for equal work, while considering variables such as position scope, internal peer equity, external market data, job location, experience and skills, and individual, business segment and company performance.
DE&I Benchmarking and Continuous Improvement
While we are proud of the progress we have made in this journey, we recognize there is more work to be done and many opportunities for continued growth in this area. During FY21, we participated in external networking groups to learn more about best practices other companies are engaging in to cultivate DE&I. As part of our DE&I strategy to deepen our commitment across all of our businesses, our FY22 Corporate Talent Goals include actions geared towards building diverse pipelines. To improve the employee experience for all employees, we are creating a DE&I Council, representative of our global workforce, that will serve as an advisory group to the Standex Executive Leadership Team, the Business Unit Leadership Teams and the global Human Resources community.
In connection with our Spring 2021 OTR, each of our business units submitted certain information on the composition of their global management teams and overall workforce by gender, and, with respect to the U.S., by ethnicity. On an aggregate basis:
- Women occupy ≈19% of supervisory and above positions globally
- Women comprise ≈31% of our global workforce
- Minorities occupy ≈15% of supervisory and above positions in the U.S.
- Minorities comprise ≈17% of our U.S. workforce
In our corporate headquarters:
- Women comprise ≈54% of our workforce
- Women occupy ≈35% of manager and above positions
- Minorities comprise ≈2% of manager and above positions