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Social
Advanced Energy aspires to be a premier employer and a good corporate citizen. We continually invest in diversity, inclusion and social responsibility.
Purposeful Corporate Citizenship
Advanced Energy aspires to be a premier employer and a good corporate citizen. We continually invest in diversity, inclusion and social responsibility.
Innovation is the lifeblood of our Company, and our people are the source code of our innovation. We have a long history of introducing many industry-firsts into precision power applications where our products are used to enrich people’s lives. We recognize that our diverse perspectives and collaboration enable us to drive innovation and future growth for our global customers.
In 2022, we conducted a survey of our global workforce. We saw high participation rates and consistently strong, favorable results across all questions and categories. The survey results are used to identify opportunities for driving improvements across all aspects of our operations.
Employee Survey 2023
Advancing diversity, equity & inclusion
We strive to cultivate an environment where all our people love to contribute and innovate.
In 2021, we relaunched our Corporate Diversity, Equity and Inclusion (DE&I) Steering Committee. The DE&I Committee develops strategies and initiatives aimed at enhancing engagement, awareness, and inclusion for our employees, customers, vendors and communities. The Committee provides global guidance and direction to develop specific, targeted initiatives. With the support of the executive leadership team, we have established a multi-year roadmap to further enhance DE&I as a critical component of our culture.
In 2022, we added 2 women to our executive leadership team. In addition, through a combination of internal promotions and external hiring, we doubled the number of women represented at vice president level and above from 2021-2022.
We strive to cultivate an environment where all our people love to contribute and innovate.
In 2021, we relaunched our Corporate Diversity, Equity and Inclusion (DE&I) Steering Committee. The DE&I Committee develops strategies and initiatives aimed at enhancing engagement, awareness, and inclusion for our employees, customers, vendors and communities. The Committee provides global guidance and direction to develop specific, targeted initiatives. With the support of the executive leadership team, we have established a multi-year roadmap to further enhance DE&I as a critical component of our culture.
In 2022, we added 2 women to our executive leadership team. In addition, through a combination of internal promotions and external hiring, we doubled the number of women represented at vice president level and above from 2021-2022.
Fostering a diverse & skilled talent pipeline
Our success as a technology company depends on an innovative, entrepreneurial and future-ready workforce that reflects the global communities we serve. We work with a global network of university partners to foster a diverse and skilled talent pipeline.
In 2020, we launched our Science, Technology, Engineering and Mathematics (STEM) Diversity Scholarship. The scholarship aims to nurture greater ethnic, racial and gender diversity in STEM by providing financial support, mentorship and on-the-job experience to college students as a pathway to future employment with our company.
Since the launch of the STEM Diversity Scholarship, we have award grants, mentoring and internship programs to 7 recipients.
Our success as a technology company depends on an innovative, entrepreneurial and future-ready workforce that reflects the global communities we serve. We work with a global network of university partners to foster a diverse and skilled talent pipeline.
In 2020, we launched our Science, Technology, Engineering and Mathematics (STEM) Diversity Scholarship. The scholarship aims to nurture greater ethnic, racial and gender diversity in STEM by providing financial support, mentorship and on-the-job experience to college students as a pathway to future employment with our company.
Since the launch of the STEM Diversity Scholarship, we have award grants, mentoring and internship programs to 7 recipients.
We recognize the importance of creating a work environment in which all our team members feel valued, included and empowered to do their best work. We roll out employee programs globally to encourage our people to openly share their ideas, perspectives and capabilities to make a positive impact in our workplace and beyond.
Benefits and Compensation
We provide competitive compensation and benefits programs to attract and retain a talented, highly engaged workforce. Our compensation programs focus on equitable, fair pay practices including market-based base pay and pay-for-performance incentives, and we offer a strong benefits package in each of the countries in which we operate. Examples of our total rewards programs include:
Pay-for-performance: Over 40% of our non-manufacturing employees participate in our annual pay-for-performance program.
Employee retirement: Almost 90% of our full-time U.S. employees participate in the 401(k) plan, in which Advanced Energy funded $4.5 million of immediately vested, matching contribution in 2022. Outside the U.S., we maintain defined benefit pension plans for employees in the U.K., Germany and the Philippines.
Discounted employee stock purchase plan: To encourage our employee’s vested interest in the company, we offer a discounted employee stock purchase plan to our employees in eligible countries.
Employee children education: In 2023, we awarded scholarships to 29 children of AE employees as part of our global Child of Employee Scholarship Program.
Applications for the 2024 Child of Employee Scholarship Program are due on May 17. Download the application here.
Learning and Development
We provide internal and external learning and development opportunities for our people. In 2022, we launched a 10-week leadership development program for our people leaders, providing the opportunity to develop and enhance the essential competencies needed to empower, engage and inspire high-performing teams. 345 employees participated in this program in 2022 globally. We have programs for education reimbursement that provide financial support to employees who seek to expand their skills and abilities. We also have a robust talent management and succession planning process focused on identifying potential candidates, developing internal leadership capabilities and strengthening our technical bench of leaders.
Safe Work Environment
We are committed to providing a safe work environment. Our Environmental, Health and Safety organization is responsible for health and safety related to on-site operations including hazard and risk identification. We provide regular health and safety trainings both on-site and through our virtual tool that assigns training based on job profiles and site-specific requirements. We are also committed to the standards of the Responsible Business Alliance Code of Conduct which promotes labor, health and safety, environmental and ethics best practices. In 2022, our Total Recordable Incidence Rate (TRIR) was 0.45 and Loss Time Incidence Rate (LTIR) was 0.26, better than industry benchmark.
Engaging with Our Communities
Advanced Energy strives to be a good corporate citizen. By engaging in volunteerism, charitable giving and partnerships, we strengthen our relationships with our local communities and help create a positive impact.
Charitable Contributions
Our Community Investment Committee is led and supported by our employees. In 2022, the committee organized volunteer events and provided investment, sponsorship and donations to eight 501(c)(3) corporations that improve education, the environment, and health and social services within the communities in which we operate.
Volunteerism
We offer each employee eight hours of paid time off to volunteer with a 501(c)(3) organization of the employee’s choosing. In 2022, Advanced Energy’s employees volunteered for home-building projects and nature clean-ups, as well as at food banks around the world. In North America alone, our employees contributed over 750 volunteer hours
Community Contributions
We help facilitate innovative research projects and invest resources to advance energy efficient technologies and help shape tomorrow’s leaders in power solutions. We partner with academic institutions in California, Colorado, Minnesota, and New York to provide internship and mentoring opportunities.
