Equal Opportunity and Respect: Diversity, Inclusion and Belonging at Alkermes

Originally published in Alkermes September 2023 Corporate Responsibility Report

NORTHAMPTON, MA / ACCESSWIRE / December 27, 2023 / Our employees are the foundation upon which our business is built. Their expertise, intelligence and creativity drive our innovation, and their passion and commitment to excellence are the cornerstone of our success. We strive to support our employees' well-being in a transparent, diverse, inclusive and collaborative culture. In addition, we provide employees with training, support and resources to help them succeed in their work environments while appropriately balancing their professional and personal lives. Beyond our employee initiatives, we are committed to broader social engagement through local community support and volunteer opportunities, grant programs, and engagement with caregivers, patients and their loved ones. We also support advocacy efforts to raise awareness of patient needs and the disease areas that our medicines are designed to treat, and to increase access to medicines and other forms of treatment in support of patient health and well-being.

Our Employees

Equal Opportunity and Respect; Diversity, Inclusion and Belonging

At Alkermes, we strive to foster a culture of respect, inclusion and equality, supported by our Code of Business Conduct and Ethics and our other corporate policies and programs. All of our policies, practices and activities related to hiring, promotion, compensation, benefits and termination are administered by our human resources (HR) organization in accordance with the principle of equal employment opportunity and other legitimate criteria without regard to race, color, religion, sex, sexual orientation, gender expression or identity, ethnicity, national origin, ancestry, age, mental or physical disability, genetic information, any veteran status, any military status or application for military service, or membership in any other category protected under applicable laws. We are an equal opportunity employer.

Consistent with our Policy Against Discrimination, Harassment & Retaliation, we are committed to creating and maintaining a work environment that reflects our Company's core values, and in which employees are treated fairly, with dignity and respect. We do not tolerate harassment or discriminatory behavior. In addition, we strive to uphold human rights in all our business activities and support the principles in the United Nations Declaration on Human Rights, including the prohibition of human trafficking, child labor and slavery of any kind.

"What each of our employees bring to work - their diverse backgrounds, life experiences and unique perspectives - is one of our greatest strengths. Making sure that our people feel comfortable bringing their full selves to work is good for our business and the people we seek to serve."

- Richard Pops, CEO

Our Diversity, Inclusion and Belonging Strategy

Alkermes is committed to diversity, inclusion and belonging across our business. Our approach emphasizes interactive engagement between colleagues, and policies and programs that celebrate and reflect the diversity of our workforce and our belief that inclusive behaviors can help foster a feeling of community and belonging. Productively engaging in these areas is integral to our culture and the success of our business. Our Diversity, Inclusion and Belonging (DIB) strategy and initiatives are governed by our Diversity, Inclusion & Belonging Executive Committee (DIB Executive Committee), Diversity, Inclusion & Belonging Steering Committee (DIB Steering Committee) and Employee Resource Groups (ERGs), all of which play important roles in helping to maximize the impact of our efforts and ensuring they are reflective of our core values.

We actively encourage Alkermes employees to proactively incorporate a focus on diversity, inclusion and belonging into their day-to-day work activities. In 2022, we continued to offer trainings and facilitate discussion for employees aimed at identifying and addressing unconscious bias in the workplace.

Diversity, Inclusion and Belonging Governance

DIB Executive Committee

Established in 2021, our DIB Executive Committee, which includes our Chief Executive Officer and other senior leaders, is tasked with continuing to refine our DIB strategy and championing its implementation and impact across the business.

DIB Steering Committee

Established in 2019, our global cross-functional DIB Steering Committee, comprised of representatives from all of our locations, including field-based employees, is focused on creating connections, fostering conversations, helping ensure our efforts are aligned with the diverse range of perspectives within our organization and developing and advancing practices, tools and resources that can be used to strengthen the sense of belonging among our employees.

DIB Sponsorships and Memberships Committee

The DIB Sponsorships and Memberships Committee is comprised of a cross-functional group of employees who work together to identify, review and recommend organizations that align with our values for potential corporate partnership or membership.

Employee Resource Groups

Alkermes currently has five employee-led ERGs which are open to all employees. Our ERGs share a common purpose of supporting and enhancing the inclusiveness of our company culture and providing opportunities for professional development, networking and building deeper connections within Alkermes.

Limitless works to create an accessible and inclusive community in which those impacted by disability or illness are empowered to be their authentic selves at Alkermes and beyond. This group aims to foster a supportive community based on a foundation of inclusion for all and seeks to create meaningful connections across the organization.

Mosaic promotes the development of a vibrant workplace environment where multicultural employees feel welcomed, supported and included through education about, and celebration of, different cultures and beliefs. This group also aims to build a supportive and inclusive employee network and sponsor professional development activities for all members of the Alkermes community to create a sense of belonging.

Operation Salute honors those at Alkermes who have served or are currently serving their country in the armed forces or whose lives are touched by family members and friends in the military. Operation Salute works to provide opportunities for veterans to network and engage with one another while also helping Alkermes honor the sacrifice made in their service.

Pride@Work focuses on the LGBTQ+ community and allies who support equality and compassion in our workplaces by promoting practices, policies and benefits that are inclusive for all sexual orientations, gender expressions and characteristics, and provides an open forum where employees can collaborate, network and engage.

Women Inspired Network (WIN) provides an open venue for women and all employees to collaborate, network, engage, learn from and inspire one another, and encourages a workplace that develops, supports and promotes all individuals, regardless of gender, with a specific aim to improve the representation of women at all levels within the organization.

Spotlight on Health Equity in Psychiatry

In February 2022, in celebration of Black History Month, our Mosaic ERG hosted a fireside chat with three leading healthcare providers in psychiatry: Dr. Leesha Ellis-Cox, Dr. Welton Washington and Hara Oyedeji, PNP. The discussion focused on representation in healthcare and the importance of health equity.

Advancing Diversity Inclusion & Belonging

In 2022, we made significant progress in our commitment to advancing our Diversity, Inclusion and Belonging strategy, including:

• Launched a diversity dashboard to assist in better understanding the composition of our employee population;
• Hosted nearly 20 DIB-related education, awareness and training programs with total aggregate attendance of approximately 2,800 employees across the organization; and
• Implemented an annual performance goal focused on DIB for all senior leaders (VP level and above), with an emphasis on talent management, development and engagement.

Our Commitment to Supplier Diversity

Our supplier diversity program aims to create opportunities for historically underrepresented businesses and promote economic growth in diverse communities. We strive to increase the representation of diverse suppliers within our procurement portfolio, including increased representation among minority-, women- and LGBTQ+ owned businesses.

As part of this program, we engage with leading certifying authorities and non-governmental organizations that engage with diverse suppliers, including:

• National Minority Supplier Development Council
• Greater New England Minority Supplier Development Council
• Women's Business Enterprise National Council
• Center for Women Enterprise
• National LGBT Chamber of Commerce
• Disability: IN
• Diversity Alliance for Science

Gender Diversity and Seniority Ratio

As of year-end 2022, our ratios of female to male employees were aligned with industry peers across all levels¹:

• Total workforce: 48% female and 52% male;
• Director level and above: 45% female and 55% male; and
• VP level and above: 37% female and 63% male.

As of year-end 2022, median compensation for males and females at Alkermes was substantially equal across metrics of base salary, total cash compensation and total compensation including equity. The average salary of our female employees as compared to that of our male employees was also aligned with industry averages. Minimizing gender pay disparities has been a priority for Alkermes, and we monitor our pay practices and make focused adjustments to maintain equitable pay across our employee population. Additionally, we continuously review and adapt our recruiting and employment offer processes to be compliant with U.S. federal and state and Irish laws. We make offers to candidates based on their experience and skills in comparison to our current employees, and without regard to their compensation from previous employers.

1 Based on recent data from our independent compensation consultant

Recruitment and Leadership Development Resources

Alkermes is committed to cultivating and supporting the advancement of a diverse workforce. As part of our efforts, we have leveraged the resources of established organizations that do important work in this area:

• Since 2019, we have been a proud corporate partner of the Healthcare Businesswomen's Association, and we support its core purpose of furthering the advancement and impact of women in the business of healthcare.
• Over the last five years, more than 100 of our female leaders have participated in leadership development programs through Women Unlimited, Inc., an organization that runs programs for female leaders at various stages of their careers.
• In 2022, we sponsored employee memberships to Conexión, an organization dedicated to the development of Hispanic-Latino leaders, and sponsored The Partnership, an organization which aims to convene and develop multicultural leaders across New England.

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SOURCE: Alkermes