Culture and Human Capital Management
The Board is actively engaged in overseeing our culture and the management of human capital. In 2019, the Board amended the charter of what was previously known as the
compensation committee (now the compensation and human resources committee) to include additional responsibilities with respect to organizational and people matters, including the review of executive officer succession plans as described below,
review of employee engagement programs, and review of ESG matters relating to the Companys workforce, including inclusion and diversity and the workforce portion of the Companys CSR report.
One of the Boards primary responsibilities is to oversee the performance, development and succession of our executive talent; however, the Boards investment
in people development extends beyond the executive team. The Board and the compensation and human resources committee engage with management across a broad range of human capital related topics. Under the Boards oversight, we have focused on
employee engagement, inclusion and diversity, professional development, recognition, safety, and wellness, with the goal of ensuring Lam is a place where everyone can do their best work. In 2019, we started conducting a new series of employee pulse
surveys focused on employee engagement, culture, inclusion and diversity, manager effectiveness, and communications. The surveys provide management and the Board with valuable employee feedback and help ensure the executive leadership team is
focused on and held accountable for fostering and promoting a culture that is consistent with Lams Mission, Vision and Core Values and our inclusion and diversity goals. Based on employee feedback, we launched a new inclusion and diversity
training program focused on unconscious bias and microinequities, expanded self-service resources available for professional development, facilitated the creation of additional employee resource groups, created new job rotation and mentoring
programs, and expanded our management training offerings. As is discussed below in Compensation Matters Executive Compensation and Other Information Compensation Discussion and Analysis, for calendar year 2020, all
of our named executive officers have compensation goals related to culture, talent, and inclusion and diversity, to help ensure the members of our executive team are aligned with our corporate goals in these areas and are accountable for the results
achieved.
The Board believes that visits to Company facilities and direct engagement with employees enable it to judge the Companys cultural journey
first-hand. Since 2017, the Board has visited our facilities in Fremont, Livermore, Tualatin, Taiwan and South Korea, and met directly with employees in small groups at all these locations in order to engage with and hear directly from them. Due to
the pandemic, these in-person meetings have been paused in recent months, and are expected to resume when the circumstances permit.
We are committed to equal opportunity and non-discrimination in our employment practices, including equitable compensation for
work performed. The charter of our compensation and human resources committee includes oversight responsibility for our compensation policies and practices related to pay equity laws. We maintain robust employment policies and procedures to
reinforce our commitment to equal opportunity, non-discrimination, and pay equity. Our policies and procedures prohibit discrimination, harassment or retaliation in any aspect of employment, including
recruiting, hiring, promotion, or compensation.
Corporate Social Responsibility
An important part of advancing the industry and empowering progress is being a socially responsible company. We invest in environmental, social, and economic
responsibility across our business and integrate corporate social responsibility principles into our day-to-day operations. Our CSR strategy is composed of six key
pillars. This framework focuses our attention on our most important topics and pressing challenges, while helping us to deliver value to our stakeholders.
Business and Governance. Our core values underpin our commitments to sustainable growth and to making a positive contribution to people and the
planet. We are committed to responsible and sustainable business practices and continuous improvement in our own operations, in our partnerships with our customers, across our supply chain and in our engagements with our other stakeholders. Goals
and objectives are approved by senior leadership, including the CEO. Our management also meets regularly with the Board and its committees to discuss CSR strategy, gain alignment on plans and goals, and report on progress.
Workplace. As described above in the Culture and
Human Capital Management section, guided by our Core Values, we strive to provide a work environment that fosters inclusion and diversity, ensures every voice can be heard, and enables employees to achieve their full potential. We aim to
maintain a collaborative, supportive, and opportunity-rich culture that enhances innovation and employee engagement. Throughout the COVID-19 pandemic, our focus and priority have remained on the health,
safety, and well-being of our employees. We implemented health and safety procedures throughout our sites, distributed relief and recovery funds to employees, and offered benefits and other employee assistance programs to those experiencing
disruptions due to the pandemic.
Community. We
believe that positively involving our employees and giving back to our community is central to our culture and an expression of our Core Values. Our charitable giving includes employee volunteer hours, the Lam Research Foundation grant program, and
employee donations. Our global philanthropy and volunteerism programs provide financial and human services to improve education and quality of life in the communities in which we operate. As a successful equipment supplier in the technology
industry, we encourage students to pursue science, technology, engineering and math, or STEM, careers, engage in activities
Continues on next page u
|
|
|
Lam Research Corporation 2020 Proxy Statement
|
|
17
|