Action Categories

Corporate Board as DEI Champions

Challenge

The IDEX Board of Directors("Board") and Executive Leadership Team wanted to serve as champions and role models for Diversity, Equity and Inclusion work at the organization, providing a sustainable foundation for DEi progress at the company.

Actions:
  • Continued Efforts to Increase Board Diversity - The IDEX Board is committed to seeking out highly qualified women and minority candidates, as well as candidates with diverse backgrounds, skills and experiences. As part of this commitment, the Board has a policy to include at least two women and at least two racially or ethnically diverse candidates every time the Board conducts a search for a new member.
  • CEO and Board DEi Improvement Planning - The Board, CEO and CHRO began our efforts by creating a DEi launch plan. The plan included a few key actions: 1) hire an external DEi consultant to conduct a DEi organizational needs analysis; 2) hire a Chief Diversity Officer reporting directly to the CEO; 3) Task the new Chief Diversity Officer with the development of a DEi Strategic Roadmap; and 4) engage the Board to oversee implementation of the Strategic Roadmap.
  • Integration of DEi Into CEO and Executive Leadership Compensation - In 2022, the company took additional actions to drive progress: 1) DEi was added as part of an ESG component to the Management Incentive Compensation Plan, and 2) a DEi progress review was added to every Board meeting. This has resulted in an ongoing dialogue among the EL T, coo and Board that ensures company-wide accountability for the achievement of our Strategic Roadmap objectives
Outcomes
  • IDEX's Board has participated in key DEi strategic roadmap tactics including: 1) completion of the lntercultural Development Inventory (1D1); 2) Involvement in ERG and external talent efforts; and 3) presentation at IDEX Diversity Training Opportunities.
  • People of color representation on IDEX's Board has increased to 33%.
  • People of color representation in people manager roles has increased by 7 percentage points since 2021.
  • Executive Leadership Team people of color representation has increased from 16% in 2021 to 33% in 2023. Executive Leadership Team representation of women has increased from 25% in 2021 to 38% in 2023.
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