DIVERSITY / 2023

2022-2023 DE&I Annual Progress Report

INTRODUCTION

We Believe in People

At ��, we believe that embracing diversity, promoting equity, and fostering inclusion are not just aspirational goals but essential pillars for our success. By harnessing the power of diverse backgrounds, experiences, and ideas, we can drive innovation, creativity, and better decision-making.

Our annual Diversity, Equity and Inclusion (DEI) Report provides a comprehensive overview of our initiatives, metrics, and outcomes, allowing for an honest and transparent assessment of our efforts. We invite you to explore it and join our mission of creating a workplace and a world where everyone feels valued, respected, and empowered.

Progress, not perfection

We acknowledge that the journey toward a more diverse, equitable, and inclusive organization is ongoing and nonlinear.

Since our first DEI report in 2020, our employee experience has evolved substantially, with the introduction of a hybrid work model over the singular remote experience employees had during the pandemic. Additionally, our workforce has become more geographically distributed outside of our Charlotte HQ, reflecting our evolving structure and the acquisition of major brands like CNET, Lonely Planet, Healthline, and more.

While measuring employee sentiment earlier this year, we realized there is room for improvement - both in the near term and in building an �� reflective of the world we live in. As a result of these learnings, we immediately implemented strategies to begin improving - changing our employee resource group (ERG) strategy, realigning our work to be better integrated across the organization, focusing more on equity by creating more access to opportunity and centering more on community in the broader sense. We also completed a pulse check this fall to measure our progress over the last six months and provide insights into where we are today.

As always, our focus is on progress, not perfection, as we continually strive to enhance the experiences of our teams. By acknowledging the changes we have undergone and remaining dedicated to growth, we reinforce our commitment to fostering an inclusive and supportive environment for all.

REPRESENTATION DATA

Representation

By assessing representation across various identity factors and intersections, we can pinpoint areas for growth and take action to enhance them at all organizational levels. Changes in representation take time, but we are committed to nurturing an environment where all employees see their identities reflected throughout the organization, including leadership positions.

To maintain consistency with previous years, the following data is from May 1, 2022 - April 30, 2023.

Gender Identity Representation

As of April 2023, we’ve seen a 6% decrease (3 percentage points) in the representation of women across our organization. While this decrease is discouraging, we are continuing to evolve our recruiting and retention strategies to meet the needs of the organization and in consideration of broader macro factors.

*Nonbinary data was unavailable prior to 2022.

Gender Identity
Representation in Leadership

Representation of women in leadership is 10% lower YoY. However, it is 21% higher than in 2020 when we began tracking our progress.

This indicates that our continued focus on increasing diverse representation can lead to long-term change.

Race and Ethnicity Representation

Representation of BILAP (Black, Indigenous, Latine/Hispanic, Asian, Pacific Islander) employees increased 9% YoY, primarily driven by growth in the Black or African American and Hispanic/Latine employee populations.

Representation of Black or African American employees increased from 9% to 11%, representing a 22% increase YoY. Representation of Hispanic/Latine employees increased from 11% to 12%, representing a 9% increase YoY.

Race and Ethnicity
Representation in Leadership

BILAP representation in leadership has increased 10% YoY, primarily driven by an increase in the Asian, Black or African American and Hispanic/Latine populations.

The Intersection of Race Ethnicity, and Gender Representation

At the intersection of race, ethnicity, and gender, representation of BILAP women remains flat. Representation of BILAP men increased by 2 percentage points, representing a 12% increase YoY.

The Intersection of Race and Gender Representation in Leadership

While we saw a 18% increase in representation of BILAP men in leadership, our representation of BILAP women remains flat. By prioritizing equitable processes and opportunities, we strive to increase representation of BILAP employees at the director and above level.

LGBTQ+ Representation

The LGBTQ+ community makes up about 9% of the U.S. workforce. At ��, the LGBTQ+ community has doubled since 2022 and now makes up 5% of our U.S. employee base. Of our leaders, 4% fall within this community.

Talent Pipeline Representation

Our overall representation is driven by diversifying incoming talent pipelines of experienced talent (new hires) or those who recently graduated from college (university hires).

New Hire Representation
by Gender Identity

The representation of women in our new hire employee base decreased by 10% from 2022 and reflects the employee base of 2021. We remain committed to ensuring there is diverse representation within our incoming talent pipelines.

New Hire Representation
by Race & Ethnicity

We saw a 19% increase in representation of BILAP employees within our new hire employee base, primarily driven by growth in our Hispanic/Latine employee population.

University Hires
by Gender Identity

Representation of women among our university hires has decreased 10% YoY. We must remain committed to cultivating a diverse representation of women across our incoming talent pipelines.

University Hires
by Race and Ethnicity

Representation of BILAP employees among our university hires increased 2% YoY, driven by the increase in the Hispanic/Latine employee population. We remain committed to cultivating a diverse representation of BILAP employees across our incoming talent pipelines.

Attrition

In 2022, we saw a rise in attrition YoY. As we continue to learn and shape our hybrid working model, our focus on driving inclusion and belonging, as well as creating access to opportunity for people throughout our organization, is more important than ever.

EQUITY DATA

Equity

Equity is an essential component of our DEI work. By prioritizing equity, we strive to create an organization where everyone has access to opportunity and a chance to succeed, regardless of their background or circumstances.

Our efforts have focused on addressing systemic barriers, promoting inclusivity, and rectifying historical imbalances. We continue to foster equity through all aspects of our operations and remain steadfast in our pursuit of cultivating an inclusive and just workplace for all.

Executive Mentorship Program

Since launching in 2021, our Executive Mentorship Program has supported more than 80 ��ers from underrepresented backgrounds across the company's U.S. office locations. With the goal of accelerating the development of underrepresented talent, this program also aims to deepen �� executives' awareness of issues faced by underrepresented employees and to increase their experience in coaching across differences.

While participating in the program, mentees have the opportunity to develop a 1:1 relationship with a senior leader and receive personal coaching, leadership development, technical training, and the chance to expand their professional network.

Upon completing the Executive Mentorship Program, 43% of participants have advanced in their careers.

Emerging Leaders Mentorship Program

The Emerging Leaders Mentorship Program is a one-year mentorship program designed for �� employees earlier in their career (with less than 3 years of experience) who demonstrate high potential and an eagerness to grow. This program aims to address common skill gaps at this level, empower participants for professional growth, and to create pathways to leadership roles for underrepresented talent.

While participating in the program, mentees have the opportunity to develop a 1:1 relationship with an �� leader and receive personal coaching, skill development workshops, technical training, and the chance to expand their professional network.

INCLUSION DATA

Inclusion & Belonging.

Inclusion and belonging are fundamental pillars of our organization's culture and values. We believe that every individual should be treated with respect, valued for their unique contributions, and have equal opportunities to succeed and thrive.

Our Annual Employee Experience Survey, administered by Qualtrics, provides insights into employees’ sense of belonging and inclusion across the organization so that we may understand our progress and hold ourselves accountable for driving meaningful change.

We assess two specific measures to ensure we’re creating an inclusive culture in which all employees feel like they belong:

Belonging

The percent of positive responses to the statement “Regardless of how I identify, I feel like I belong at ��.”

Inclusion

An aggregate score created by Perceptyx that is based on questions specific to diversity, equity, and inclusion.

Inclusion Data in Aggregate

Looking at these measures across the organization, we’ve seen a 4% increase in favorability in our DEI index and an 11% increase in favorability in belonging since our 2023 Annual Employee Engagement Survey.

Inclusion Data by Gender Identity

In the last 6 months, women rated �� 12% more favorably, and non-binary employees rated �� 6% more favorably. Additionally, we saw an 18% increase in favorability among men.

While we’ve seen growth in favorability across all gender identities, it’s important to continue building a culture that supports and includes our non-binary teammates.

Inclusion Data by Race
and Ethnicity

In addition to making progress on gender inclusion, we’ve reduced the disparity in favorability between white employees and those who identify as Asian by 33%.

While this is a movement in the right direction, we’ve observed a 43% increase in disparity in favorability between those who identify as Black or African American and those who identify as white.

Inclusion Data by Race, Ethnicity, and Gender

We acknowledge the importance of intersectionality in shaping distinct experiences and requirements of individuals whose personal identities span multiple categories.

When examining the crossroads of race, ethnicity, and gender identity, we understand that BILAP women report the lowest favorability (69%) across all groups in the DEI index. We must continue to create opportunities to connect those who may have been historically excluded with opportunities for growth and spaces in which they can find community among employees with shared identities and experiences.

Rather than referring to our non-white employees with the commonly used term BIPOC (Black, Indigenous, People of Color), at ��, we use the term BILAP (Black, Indigenous, Latine or Hispanic, Asian, Pacific Islander). This recommendation was made by the leadership team of our Employee Resource Group (ERG), Kindred, to elevate the visibility of additional racial identities. You will see us refer to BILAP throughout this report.

LGBTQ+

LGBTQ+ employees report lower feelings of belonging and inclusion, with favorability falling between 16% and 22% below the organization.

At a macro level, as of April 2023, legislation targeting LGBTQ+ rights doubled YoY [417 in 2023 compared to 180 in 2022]. The external landscape has impacted how employees who identify as LGBTQ+ experience a sense of belonging, both in the workplace and the world at large

Employees may choose to self-identify if they are members of the LGBTQ+ community. Employees are not required to disclose this information or identify their specific sexual orientation. Data related to sexual orientation is only used in aggregate and never tied back to an individual employee.

Inclusion Through Community

Over the last year, our focus has been to build communities and an environment in which all employees feel empowered to bring forth their perspectives and talents.

We measure our progress in these areas by examining favorability across two questions:

“I have a community of peers with whom I share ideas or interests at ��.”
“My team creates an environment where I feel safe to speak up and express my views and opinions without fear of negative consequences."

Inclusion Through Community by Gender Identity

Inclusion Through Community by Race and Ethnicity

Inclusion Through Community by Race and Gender Identity

Employee Resource Groups

Communities help break down barriers and contribute to an environment where everyone feels valued and included. Inclusive communities actively seek to understand and address the needs of all members, regardless of their background or abilities.

Since 2020, our employee resource groups have played a pivotal role in shaping communities within ��, acting as catalysts for positive change and inclusivity.

Empowered

“My daughter was so happy to watch her awaited movie along with her Dad’s (me) co-workers and the little ones from their families.”
VentureOUT

“Happy Pride Everyone! I hope everyone has a safe and happy pride where they feel represented! You are worth celebrating!”
Kindred

“Our time has officially come! After going through the hunger games (which was ticket sales) the Queen B is heading to Charlotte and ATL! Reply if you're going!”
Elevate

“Not only does this project highlight important action in the AAPI community, but specifically it was created from a conversation I had in this very ERG channel.”
Mi Gente

“¡Feliz dia de la independencia a mis parceros Colombianos! There is a Colombian Festival this Saturday to celebrate 💛💙❤️”

Other �� Communities

At ��, the word "community" extends beyond just our ERGs to include other interest groups that align with our employees’ passions and interests. Whether meeting in person or virtually via Slack, these groups build connections that exist both inside and outside of our walls.

Whether your communities are based on shared identity or shared interests, they can help to build social capital - a powerful force for promoting equity and empowering individuals to thrive.

Communities foster trust, cooperation, and strong social networks, creating an environment where resources, information, and support are more readily shared. This inclusivity also helps to bridge gaps, level the playing field, and enable individuals from marginalized or disadvantaged backgrounds to connect with others who can offer mentorship, guidance, and opportunities.

NEXT STEPS

Path Forward

While this annual report showcases the progress achieved throughout 2023, we believe in upholding transparency regarding our work over the last three years. Considering the substantial organizational changes since 2020, comparing year-over-year employee experiences may not provide the most accurate measurement of our progress. Nevertheless, we acknowledge the significance of this metric in tracking growth and understanding the trajectory of our efforts.

Click here to view the year-over-year measurement of inclusion and belonging since we last captured this data in 2021.

Conclusion

Annual data enables us to track our progress, maintain accountability, and gain insights into areas that require further attention. Our aspiration is not perfection, but continuous improvement towards fostering an environment where everyone feels welcome, respected, and empowered.

As we reflect upon the past year, we acknowledge the unique challenges that have impacted our organization, whether it’s navigating a hybrid work environment, adapting to the changing macro landscape, or exploring new business opportunities. Each of these challenges has made a significant impact and demanded that we remain nimble yet focused on our commitment to diversity, equity, and inclusion.

Moving forward, we remain steadfast in our commitment to actively listen to the voices of our employees and to adapt our approach to create a more inclusive and equitable workplace. Three pillars will be our north star in doing this work:

Leveling the Playing Field: Leveling the Playing Field: By ensuring equal opportunities and addressing disparities, we create a workplace where everyone, regardless of background or identity, can contribute and thrive.
Shared Purpose: When we center on a shared purpose, we bring a vibrant mix of perspectives, weaving a tapestry of ideas that are uniquely ours.
Connectedness: Through open dialogue, respect, and shared understanding among us, we break down barriers to build meaningful relationships, foster a work culture that enhances our well-being, and promote collaboration and innovation.

With optimism and determination, we embrace the future and look forward to continuing this journey together.

Our Impact

Our annual DEI reports serve as a reflection of our commitment to transparency and provide a comprehensive overview of our initiatives, metrics, and outcomes, allowing for an honest assessment of our efforts.

Precious Annual Reports:

2021-2022

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