Trailblazer PACESETTER Late Bloomer
Company Narrative
Visa, a world leader in payment facilitation and financial transactions between customers, has been ranked as a PACESETTER on the Women’s Power and Influence Index.
Visa has achieved pay parity and created a program, Amplify, to help women find their authentic voice as leaders and develop professionally within the company.
As of 2022, 43% of Visa’s workforce is women, with 35% of leadership positions being held by these women.
Sufficient information relating to Visa’s subsidized childcare services could not be found.
Workforce Profile
Equitable Pay
✓ Does the company demonstrate a clear and transparent commitment to equal pay?
“We are committed to reporting our workforce demographics annually. We are committed to pay equity: men and women earn the same pay for the same work globally, and the same is true for underrepresented minorities and their white peers in the U.S.”
Ref: Visa Investing in Our Workforce Web Page 2023
✓ Does the company perform an annual analysis of gender pay equity and pay disparities?
“As part of building an inclusive and equitable organization, we are committed to tracking, measuring, evaluating and reporting annually on our workforce demographics and pay equity.
Visa’s goal is to include 100 percent of regular, active employees in fully-integrated subsidiaries in our equal pay analysis. Our most recent analysis was based on FY22 total compensation, which includes base salary, annual cash incentives and annual long-term incentive awards, and included 99.8 percent of all regular, active employees of all fully-integrated subsidiaries of Visa as of September 30, 2022.”
Ref: Pg. 35 Visa Environmental Social Governance Report 2022
✓ Do female employees earn at least 95% of what their male counterparts earn?
[1] “At Visa, men and women earn the same pay for the same work globally, and the same is true for underrepresented employees and their white peers in the US. Visa signed the Equal Pay Pledge in 2016 to show our commitment to closing the U.S. gender wage gap, joining other companies to form Employers for Pay Equity to look inside our own walls to make sure Visa is an environment where everyone can thrive.”
[2] “Women earned $1.00 for every $1.00 earned by men for the same work globally, and underrepresented employees earned $1.01 for every $1.00 earned by white employees for the same work in the U.S.”
[1] Ref: Visa Community – Advocating For Change Web Page 2023
Career Growth
✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization?
“All Visa employees have a career development framework and set of resources and digital tools to plan their career growth at the company. We actively encourage employees to explore growth opportunities and recently revised our Internal Mobility Guidelines to reduce job mobility restrictions…Amplify— Harnessing Your Authentic Voice: Aimed at helping women find and enhance their authentic voice as a leader through creating personal narratives and exploring values, courage, negotiation and influencing. In FY22, we delivered the program to nearly 80 women leaders at the director/senior director level across NA, LAC and Europe.”
Ref: Pg. 36, Visa Environmental Social Governance Report 2022
✓ Does the company provide professional development programs designed specifically for female employees?
“Visa’s longstanding commitment to invest in our employees includes robust development and education programs in areas of payments, technology, inclusion and diversity, professional development and leadership…Amplify— Harnessing Your Authentic Voice: Aimed at helping women find and enhance their authentic voice as a leader through creating personal narratives and exploring values, courage, negotiation and influencing. In FY22, we delivered the program to nearly 80 women leaders at the director/senior director level across NA, LAC and Europe.”
Ref: Pg. 36, Visa Environmental Social Governance Report 2022
✓ Does the company provide professional development programs designed specifically for diverse employees?
“In Europe, Visa participates in an ethnic diversity Talent Accelerator program, which supports the progression of underrepresented professionals at the senior manager and director levels, enabling participants to grow into leading change makers and role models at Visa.’
Ref: Pg. 33, Visa Environmental Social Governance Report 2022
✘ Does the company offer a formal mentoring program to support the career advancement of all female employees?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?
[1] “In 2022, Visa also continued our employee mentorship program with Bridge for Billions. Through this online program, Visa employees mentor Black, primarily women-owned SMBs in the U.S. on a three-month incubation journey to help them review their business models, define their financial projections, create growth plans for their ventures and more. Visa also partnered with Digital Boost, a mentoring platform that allows small businesses and charities to learn key digital skills to help their businesses thrive. Through this program, Visa employees have been able to apply their skills and expertise to mentor founders of small businesses.”
[2]”VEI is a global innovation program that tasks startups with solving the payment challenges of tomorrow, further enhancing their own product propositions and providing visionary solutions for Visa’s network of partners…Additionally, in the U.S., we launched She’s Next in Fashion, supporting 50 Black, Indigenous and/or People of Color (BIPOC) women-owned SMBs in the fashion and beauty industries through cash grants, mentorship program access and customer marketing and influencer campaigns.”
[1] Ref: Pg. 19, Visa Environmental Social Governance Report 2022
[2] Ref: Pg. 13, Visa Environmental Social Governance Report 2022
✘ 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?
“At Visa, promoting Inclusion and Diversity (I&D) is a focus for our business, and we do so throughout the regions in which we operate, focusing on the issues most relevant to each region. Visa’s I&D strategic objectives include:
• Talent & Culture: supporting diverse talent in a culture focused on inclusion…In 2020, Visa made a public commitment to Stand Together, our effort to help support social justice and racial equality impacting our people, company and society. Our Stand Together goals include:
• Increasing the number of employees from underrepresented groups at the vice president level and above in the U.S. by 50 percent by 2023.
• Increasing the number of underrepresented Visa employees in the U.S. by 50 percent by 2025.
We have made strong overall progress toward the objectives of our Stand Together initiative and are on track to meet or exceed these goals. As part of this commitment to Stand Together, we have expanded culturally-focused development programs to support Black, African American, Latino, Hispanic and other underrepresented groups. These programs include a partnership with the McKinsey Leadership Academy as well as internal skill building and coaching programs for employees across job levels at Visa.”
Ref: Pg. 31, Visa Environmental Social Governance Report 2022
Work-Life Balance
✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?
“WINFertility has been a pioneer in the field for more than 20 years, delivering personalized guidance for a safer, better family-building experience. WINFertility helps you understand your options so you can find the right provider and best course for you to start or grow your family – making the most of your health benefits. Whether you choose fertility testing and treatment, cryopreservation adoption or surrogacy, WINFertility is by your side.”
Ref: Visa BenefitSource US Family Planning Web Page 2023
✓ Does the company provide child care support for employees?
“Visa partners with Bright Horizons to provide confidential, personalized support with family care matters – from finding backup care when normal arrangements break down to developing senior care plans for aging adult…Effective October 1, Visa will transition to Bright Horizons for child and adult/elder care services. They will provide the same child and adult/elder care options that are currently available through our current partner, LifeCare but with many enhancements to the services and benefits. Bright Horizons can help you find emergency backup care for your children or adult/aging relatives when the unexpected occurs. Bright Horizons will offer backup care at the same copay amounts and annual maximums that were available through LifeCare.”
Ref: Visa Bright Horizons Child & Elder Care Services Web Page 2023
✘ 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?
[1] “Our benefits vary by location and may include:
• Paid new child bonding leave, with a minimum of 14 weeks for all parents”
[2] “Paid parental leave is for moms and dads. It provides you 14 weeks of paid leave to bond with your newborn or if you adopt a child. After 14 weeks, you can use Paid Time Off (PTO) to cover any additional time you would like to take. Paid parental leave runs concurrently with federal or state leave laws such as the Family and Medical Leave Act (FMLA) and the California Family Rights Act (CFRA). You’re eligible for parental leave if you work at least 20 hours per week. You must take your leave within one year of your child’s birth or adoption.”
[1] Ref: Pg. 39, Visa Environmental Social Governance Report 2022
[2] Ref: Visa BenefitSource Parental Leaves of Absence Web Page 2023
✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?
[1] “Our benefits vary by location and may include:
• Paid new child bonding leave, with a minimum of 14 weeks for all parents”
[2] “Paid parental leave is for moms and dads. It provides you 14 weeks of paid leave to bond with your newborn or if you adopt a child. After 14 weeks, you can use Paid Time Off (PTO) to cover any additional time you would like to take. Paid parental leave runs concurrently with federal or state leave laws such as the Family and Medical Leave Act (FMLA) and the California Family Rights Act (CFRA). You’re eligible for parental leave if you work at least 20 hours per week. You must take your leave within one year of your child’s birth or adoption.”
[1] Ref: Pg. 39, Visa Environmental Social Governance Report 2022
[2] Ref: Visa BenefitSource Parental Leaves of Absence Web Page 2023
✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?
“WINFertility has been a pioneer in the field for more than 20 years, delivering personalized guidance for a safer, better family-building experience. WINFertility helps you understand your options so you can find the right provider and best course for you to start or grow your family – making the most of your health benefits. Whether you choose fertility testing and treatment, cryopreservation adoption or surrogacy, WINFertility is by your side.”
Ref: Visa BenefitSource US Family Planning Web Page 2023
✓ Does the company offer women-specific health benefits for female employees?
“WINFertility has been a pioneer in the field for more than 20 years, delivering personalized guidance for a safer, better family-building experience. WINFertility helps you understand your options so you can find the right provider and best course for you to start or grow your family – making the most of your health benefits. Whether you choose fertility testing and treatment, cryopreservation adoption or surrogacy, WINFertility is by your side.”
Workplace Standards
✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?
“We are strongly committed to equal opportunity in all employment decisions and promote a culture where everyone is treated with dignity and respect. We prohibit any form of harassment or discrimination based on protected class. Discrimination or harassment based on a protected class may occur in writing, verbally, physically, or visually, such as photos or videos. Protected classes include but are not limited to the following:
• Race or skin color
• Sex, sexual orientation and gender identity or expression
• Creed or religion
• Age
• Marital status
• National origin, ancestry or citizenship
• Pregnancy
• Medical condition
• Veteran status
• Physical or mental disability”
Ref: Pg. 18, Visa Code of Business Conduct and Ethics
✘ Does the company mandate all employees to undergo harassment and discrimination training?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?
“What Happens After a Concern Is Raised? Our goal is to ensure a safe and respectful environment where everyone can come and do their best work. When we learn of a potential violation of the Visa Code of Business Conduct and Ethics or other Visa policy by Visa staff, a confidential, professional investigation is conducted. We address misconduct through a formal resolution process. Confirmed violations of our Code and other company policy will result in corrective action.”
Ref: Pg. 12, Visa Code of Business Conduct and Ethics
Stakeholder Engagement
✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?
“Visa aims to increase engagement with clients focused on improving financial inequities and to proactively secure commercial partnerships with businesses that are diverse-owned, diverse-led or focused on diverse target markets by delivering innovative solutions to bring unbanked and historically underserved communities into the financial ecosystem. We work to establish mission-driven partnerships, enable and inspire inclusive culture and uplift communities through education. These goals are realized by uplifting, enabling and supporting historically underserved communities through inclusive partnerships that allow individuals and communities to thrive.”
Ref: Pg. 16, Visa Environmental Social Governance Report 2022
✓ Does the company offer and support initiatives that promote gender equality in the community?
[1] “Outside of our existing workforce, we promote economic opportunity and a diverse talent pipeline through internships, scholarships, mentoring and skill building. Progress in 2022 included:
• U.S.: announced the recruitment of a second cohort of 75 students as part of our Visa Black Scholars and Jobs Program; in partnership with the Thurgood Marshall Foundation College Fund. The $10 million Program offers select college-bound Black and African American high school students in the U.S. yearly scholarship assistance, mentorship from Visa employees and the opportunity for an immersive internship experience. Those who meet all program requirements will receive a full-time job offer with Visa after graduation.”
[2] “Additionally, Visa joined the Sunflower Project, a pan-European initiative of the Tent Partnership for Refugees (Tent) that is focused on accelerating the inclusion of tens of thousands of Ukrainian refugee women across the continent through better access to jobs, training, skilling, mentoring and more. Tent is a network of 300+ major companies committed to helping refugees integrate economically by connecting them to work. Visa works with Tent as a member and anchor company to develop specific programs to support these efforts in Europe.”
[1] Ref: Pg. 17, Visa Environmental Social Governance Report 2022
[2] Ref: Pg. 33, Visa Environmental Social Governance Report 2022
✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?
“In 2022, we launched Visa’s Employee Value Proposition (EVP), Powering Payments, Empowering People, linked to our purpose, to help attract new talent and engage and retain current employees. Visa conducted employee research and identified three key areas where we thrive: impact, growth and inclusivity. At Visa, our employees appreciate that they can make an impact with a purpose-driven industry leader, drive their growth within a growing company and be part of a people centered company that invests in its employees.”
Ref: Pg. 38, Visa Environmental Social Governance Report 2022
✓ Does the company offer equity-focused trainings, speaker programs, or events for employees?
“We believe active allyship and reducing unconscious bias are key to fostering an inclusive workplace. We encourage employees to gain knowledge of colleagues’ backgrounds and experiences. We provide training opportunities to equip our employees with resources and tools to become active allies and learn behaviors that build a workplace where diverse perspectives are valued.
Allyship efforts include shared experiences through our Stand Together Inclusion & Diversity Talks speaker series, a global education opportunity for Visa employees designed to promote active learning. We welcome guest speakers for thought-provoking conversations that embrace global experiences and points of view. Highlights from the 2022 Inclusion & Diversity Talks include:
• Educator and race and gender activist Reverend Nontombi Naomi Tutu
• Fashion designer, television personality and author Tan France
• CEO of Voto Latino and MSNBC analyst Maria Teresa Kumar
• Television personality Lisa Ling”
Ref: Pg. 34, Visa Environmental Social Governance Report 2022