At IDEXX, we are committed to advancing initiatives around diversity, equity, and inclusion, including pay equity. We have numerous processes in place that are designed to promote fair and consistent compensation. We continue to take steps to ensure our global pay practices support pay equity.
IDEXX’s global compensation processes and practices include:
- Centralized Function: IDEXX’s centralized Compensation Center of Excellence (“COE”) provides input to management to ensure compensation is consistent with job scope, skills, and responsibilities and that policies are applied consistently and non-discriminatorily across the organization.
- Defined Job Architecture: Defined salary ranges are reviewed annually and updated utilizing market data. The job architecture serves as the framework for fair, non-discriminatory and consistent pay practices and is embedded in our Human Capital Management software, Workday, and visible to employees through the company’s intranet.
- Job Review & Analysis: Jobs are periodically reviewed to ensure an accurate reflection of job responsibilities and corresponding pay range. Incumbent pay ranges are reviewed against job responsibilities to ensure equal pay for work of equal value.
- Survey Participation: Annually, the Compensation COE receives compensation survey results from multiple nationally recognized compensation consulting firms. These surveys help analyze market trends based on key factors such as industry, revenue size, geography and head count.
- Annual Review Process: Our annual performance review and compensation planning processes help ensure equality across the organization through pay adjustments based on multiple non-discriminatory factors, such as performance, internal equity, and market levels.
- Commitment to Transparency: Our commitment to transparency is demonstrated by the publication of our compensation philosophy, pay ranges and policies that support an employee’s right to inquire, discuss or disclose their pay without fear of retaliation. We document and communicate these processes through localized Employee Handbooks, which are available to all employees on the company’s intranet.
- Compensation and Talent Committee: The Board-level Compensation and Talent Committee oversees the executive compensation philosophy and practices of IDEXX, evaluates the performance of the CEO, determines the compensation of the CEO, and approves the compensation of the other executive officers. The Committee also has the responsibility to oversee the administration of our incentive compensation and equity compensation plans. Additionally, the Committee analyzes the risks associated with IDEXX’s compensation policies and practices.