Nike Inc. has released a series of diversity, equity and inclusion targets it aims to achieve over the next five years and announced it’ll tie executive compensation to meeting them and its broader environmental, social and governance efforts.
“Our Purpose 2025 Targets are not just aspirations. They are a call to action — with clear goals, strategies and accountabilities,” said John Donahoe, Nike’s president and chief executive officer, in a statement. “We are also redefining what responsible leadership looks like. For the first time, we will tie executive compensation to Nike’s progress in deepening diversity and inclusion, protecting the planet and advancing ethical manufacturing.”
Among Nike’s many goals included in its company’s summary report, the sportswear company is pledging to increase representation of women in its global corporate workforce by 50 per cent and 45 per cent in leadership positions; of racial and ethnic minorities in director levels and up in the U.S. by 30 per cent and racial and ethnic minorities in its U.S. corporate workforce by 35 per cent. Additionally, Nike aims to increase its pipeline of Black and LatinX talent to director levels and above by 30 per cent.
According to the summary, the company has earmarked US$10 million to go to historically Black colleges and universities and Hispanic-serving institutions in the form of scholarships and academic partnerships to increase intern and direct hires, as well as to enhance opportunities and marketing of open roles for first-line athletes — including employees working in its retail stores, distribution centers or Nike Air manufacturing innovation — to compete for corporate roles.
The company, with headquarters in Oregon and offices and stores around the world, including Canada, will also maintain 100 per cent pay equity across all employee levels annually and provide competitive and equitable benefits for all of its employees. The company also plans to ensure all of its strategic suppliers are increasing access to career opportunities and upward mobility for women employed in their facilities and that they’re measuring and improving the engagement of the people making its products.
As well, Nike is aiming to ensure all of its vice-presidents complete and be credentialed on inclusive leadership education, and it’ll double its investments focused on professional development for racial and ethnic minorities in the U.S. and women globally.