According to PepsiCo’s 2018 Diversity Report, the company continued to make major strides in demonstrating its commitment to diversity and inclusion last year.
The Fortune 50 business reports that as of 2018, 40 percent of its global managers are women, with a goal of reaching 50 percent women in leadership by 2025. Additionally, PepsiCo’s global promotion rate is 23 percent for women and 23 percent for persons of color in the United States.
Additionally, at every level of the company, employees are paid equally no matter their gender or race. The report states that men and women are paid within 1 percent of each other in the 33 countries that represent 93 percent of its salaried employee population.In the United States, People of Color and Non-Minorities are also paid within 1 percent.
PepsiCo’s dedication to diversity also extends to its suppliers. The company reports that it currently engages with over 300 diverse-owned businesses and spent $1.3 billion with diverse business enterprises in 2018.
PepsiCo’s diversity initiatives resulted in several business breakthroughs last year. The company started Somos Pepsi, an entire value chain based on respect and celebration of the Hispanic culture to meet the tastes of Hispanic consumers in an authentic manner. The dedicated 15 person team contributed a positive two-point swing on liquid refreshment beverage sales. Additionally, in partnership with Edlong — a woman-owned dairy technology company which PepsiCo partnered with as an indirect supplier for years – food scientists broke new ground in formulation techniques and speed-to-market, helping to create and launch new product innovations.
Chief Executive Officer Ramon Laguarta writes that in 2019, the company “doubled down” on its belief that “a more diverse company is a stronger company… by embracing a new vision for PepsiCo’s future success: to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose.”
He continues: “As part of our effort to bring this new vision to life, we are focused on promoting diversity and engagement in both our company and our communities. This includes our efforts around pay equity and gender parity, as well as our goal to invest $100 million to benefit at least 12.5 million women and girls around the world by 2025.”
He says equality within senior management continues to be a major goal of the company.
“We also continue to make progress diversifying the most senior levels of our company, including recent appointments to the Board of Directors and the PepsiCo Executive Committee.”