The third annual report that examines diversity, equity, and inclusion (DEI) in the biotechnology industry launched today at the 2022 BIO International Convention. The report, “Measuring Diversity in the Biotech Industry: Tracking Progress in Small and Large Companies”, investigates the state of DEI in the biotechnology industry and includes representation data, current DEI approaches and initiatives, and data comparisons to previous reports.
Some of the findings were discussed during the “Best Practices for Building an Inclusive Biotech Company” panel session at the BIO Convention.
BIO partnered for the third consecutive year with Coqual, an industry-leading think tank devoted to DEI in the workplace. The report analyzes the findings from a voluntary survey of 99 BIO member companies fielded from November 2021 to January 2022.
This year’s report shows progress, but also highlights the need for DEI improvements in the biotech sector. Of the responding companies, women now make up 49% of employees, compared to 47% in 2020 and 45% in 2019, but only 34% of executive teams and 20% of CEOs. Employees of color make up 38% of all employees, but only 24% of executive teams and 28% of CEOs. The survey found meaningful growth in some companies – more than 4 in 10 increased representation of executives of color by more than 5%.
“BIO is committed to ensuring that all people are able to participate in – and benefit from – the biotech industry’s efforts to cure patients, protect the climate, and nourish humanity,” said BIO President and CEO Dr. Michelle McMurry-Heath. “This commitment begins with ensuring that the workforce reflects those our industry serves. We have more work to do, and BIO plays an important role as a thought leader and resource for the biotechnology industry.”
Other key findings include:
Most organizations (nearly 80%) indicate that attracting, recruiting, and promoting diverse talent are priorities of their DEI programs.
Small and large…
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