Trailblazer Pacesetter LATE BLOOMER
Company Narrative
CVS, the popular healthcare pharmacy and other services corporation has been ranked as a LATE BLOOMER on the Women’s Power and Influence Index.
CVS’s Women Inspiring Success and Excellence initiative promotes empowerment for women to develop leadership and networking skills through educational, mentoring, and volunteer opportunities. Furthermore, diverse resource groups such as the Asian Professional Network Association (APNA) and the Black Colleague Resource Group (BCRG) are great examples of promoting inclusion in the workforce.
As of 2021, women make up almost 71% of the workforce and roughly 43% of leadership positions are held by women.
Publicly available information from CVS sources was insufficient to provide data on pay parity, women and diverse recruitment, childcare policies, and defined processes on harassment policies could not be found.
Workforce Profile
Equitable Pay
✓ Does the company demonstrate a clear and transparent commitment to equal pay?
“As outlined in our EEO statement, CVS Health is committed to the principles of equal employment opportunity, affirmative action, pay equity, and strategic diversity management.”
Ref: Pg. 2, CVS Pharmacy EEO Report 2021
✘ Does the company perform an annual analysis of gender pay equity and pay disparities?
Information regarding this criterion was unavailable or incomplete.
✘ Do female employees earn at least 95% of what their male counterparts earn?
Information regarding this criterion was unavailable or incomplete.
Career Growth
✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization?
“Women Inspiring Success and Excellence. Provides colleagues, especially women, at CVS Health with educational, mentoring, and volunteer opportunities that will promote empowerment to develop leadership and networking skills for continued industry success.”
Ref: CVS Making Connections Through Colleague Resource Groups
✓ Does the company provide professional development programs designed specifically for female employees?
“Women Inspiring Success and Excellence. Provides colleagues, especially women, at CVS Health with educational, mentoring, and volunteer opportunities that will promote empowerment to develop leadership and networking skills for continued industry success.”
Ref: CVS Making Connections Through Colleague Resource Groups
✓ Does the company provide professional development programs designed specifically for diverse employees?
“Black Colleague Resource Group (BCRG): Dedicated to the personal and professional interests of CVS Health colleagues who self-identify as African, African-American, Black, Cape Verdean, West Indian or being of African descent. Membership is open to all colleagues, regardless of race or ethnicity, and the group promotes inclusion, networking, community outreach and mentorship.”
Ref: CVS Making Connections Through Colleague Resource Groups
✓ Does the company offer a formal mentoring program to support the career advancement of all female employees?
“Women Inspiring Success and Excellence. Provides colleagues, especially women, at CVS Health with educational, mentoring, and volunteer opportunities that will promote empowerment to develop leadership and networking skills for continued industry success.”
Ref: CVS Making Connections Through Colleague Resource Groups
✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?
“Asian Professional Network Association (APNA): Dedicated to the personal and professional development of Asian American colleagues within the CVS Health organization. Development is achieved through a blend of vehicles such as peer mentorship, community outreach, philanthropic achievements, and cross-CRG involvement.”
Ref: CVS Making Connections Through Colleague Resource Groups
✘ Does the company have policies and programs in place to actively recruit female candidates?
Information regarding this criterion was unavailable or incomplete.
✘ Does the company have policies and programs in place to actively recruit diverse candidates?
Information regarding this criterion was unavailable or incomplete.
Work-Life Balance
✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?
“Five days of backup child or elder care per year at low copays”
Ref: Pg. 21, CVS 2022 ESG Report
✘ Does the company provide child care support for employees?
Information regarding this criterion was unavailable or incomplete.
✘ Does the company offer subsidized child care?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company offer paid maternity leave for birthing parents?
“We even offer four weeks of paid parental leave for parents after one year of service.”
Ref: CVS Health Benefits
✘ Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?
“Doubled family building benefit to $10K, to support eligible expenses, related to adoption, use of gestational carrier or surrogate, IVF or doula services”
Ref: Pg. 21, CVS 2022 ESG Report
✓ Does the company offer women-specific health benefits for female employees?
“Doubled family building benefit to $10K, to support eligible expenses, related to adoption, use of gestational carrier or surrogate, IVF or doula services”
Ref: Pg. 21, CVS 2022 ESG Report
Workplace Standards
✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?
“CVS Health requires all matters related to recruiting, hiring, training, compensation, benefits, promotions, transfers and treatment on the job be free of discrimination and harassment, which are prohibited by law.”
Ref: CVS Employee and Consumer Rights
✓ Does the company mandate all employees to undergo harassment and discrimination training?
“Employees are reminded of these complaint mechanisms in various ways, including during annual Code of Conduct training and annual harassment prevention training.”
Ref: CVS Employee Arbitration Program
✘ Does the company have a defined harassment policy that includes promptly addressing reported incidents?
Information regarding this criterion was unavailable or incomplete.
Stakeholder Engagement
✘ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company offer and support initiatives that promote gender equality in the community?
“We are investing $5 million over five years in community-based programs designed to reduce maternal mortality in diverse populations–beginning with Black women, who are disproportionately affected”
Ref: Pg. 12, CVS 2022 ESG Report
✘ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?
Information regarding this criterion was unavailable or incomplete.
✘ Does the company offer equity-focused trainings, speaker programs, or events for employees?
Information regarding this criterion was unavailable or incomplete.