Our commitment to a diverse workforce and equitable compensation
The Quest Diagnostics workforce is comprised of approximately 72% women and approximately 56% people of color. Women hold over 55% of our management roles, and people of color hold approximately one-third of our management roles. Additionally, 45% of our Senior Vice Presidents and higher are people of color, women or both.
To view more information about our diverse workforce, read our 2020 Corporate Responsibility report.
Sourcing, hiring, promotion, and talent management
It is a top priority for Quest’s dedicated Talent Acquisition team to proactively source diverse candidates. When Quest hires or promotes from within, we consider each candidate’s qualifications and experience, as well as market-based information, in order to remain externally competitive and internally equitable. Quest uses narrow role-based salary ranges to ensure that new hires and continuing employees alike are compensated equitably. Our Human Resources function oversees Quest’s annual talent review process to ensure that performance reviews are fair and well-documented and to prevent unconscious bias.
Employee business networks
Our 10 Employee Business Networks work closely with their Executive Sponsors and Human Resources to provide their members with development opportunities including networking, mentoring, and job shadowing. To learn more about all that our EBNs do, view our most recent responsibility report and our company blog.
Gender parity collaborative
Quest is proud to be a founding member of the Healthcare Businesswomen Association’s Gender Parity Collaborative, a group of healthcare and life sciences companies dedicated to developing and committing to action steps to promote women in the workplace and accelerating gender compensation parity. The Collaborative leverages data from McKinsey’s “Women in the Workplace” study, which Quest has participated in since 2015.
Fostering equity and intolerance for discrimination
Quest is serious about fostering an equitable workforce and an environment that is free of discrimination. All employees receive “respect in the workplace” training, which includes unconscious bias training, with the goal of fostering an equitable workplace. We offer several options for reporting and resolving issues that arise, which are documented in our Human Resources policies. In addition, complaints can be registered anonymously with our Human Resources Service Center or the CHEQline, our compliance reporting system, and there are many other options for reporting complaints. Our well-established Open Door Policy provides, among other things, an opportunity for all employees to resolve work-related problems and issues without fear of retaliation or retribution. When we obtain knowledge of possible discrimination, we thoroughly review and address those issues.
Our commitment to equitable compensation
Our compensation programs are designed to attract, retain, and motivate talented and diverse employees and to help drive the execution of our business objectives and strategic goals. Our competitive base pay reflects several factors including individual roles and responsibilities, skills, experience, and performance. We also have designed our compensation programs to align with market compensation (in the relevant geography as appropriate) based on robust market benchmarking, ensuring equitability.
Beyond salary, Quest’s compensation package includes variable pay, other forms of financial recognition, and a comprehensive benefits offering including 401K, paid time off, workplace flexibility, and healthcare coverage. We also compensate nonexempt employees with overtime pay, and we pay shift differentials where appropriate.
Centralized oversight and common review
We maintain a centralized compensation function to oversee our compensation processes and structures, and to help management ensure that pay outcomes are consistent with role, responsibilities, skills, experience, and performance. Quest generally allocates funds toward salary increases within our annual budget process. Around the same time every year, annual salary reviews are conducted for each employee that enable managers to identify inappropriate disparities. A common review period for all employees, coupled with narrow salary ranges and related guidelines, allow managers to review compensation across teams holistically and help ensure pay equity. Employees brought into the Quest workforce through acquisitions generally are migrated to Quest benefits programs, and their compensation is aligned with appropriate Quest pay ranges, generally as soon as practicable following finalization of the acquisition.
Quest participates in compensation surveys conducted by multiple nationally recognized compensation consulting firms and data providers. These surveys provide valuable insights and help us benchmark compensation, establish market-linked salary ranges, incorporate market trends, and include geographical variation where appropriate.
Reviews and analyses
We retain an independent, third-party advisor to perform a rigorous, targeted statistical analysis of our compensation practices, including identification of any disparities with respect to gender, race or ethnicity. We have performed a targeted, rigorous statistical analysis of our compensation practices (utilizing independent third-party advisors), including with respect to gender, race, and ethnicity. Our reviews and analysis have not uncovered any statistically significant compensation disparities based on gender, race, or ethnicity. We also review data regarding the diversity of our workforce on a regular basis. Quest regularly conducts an engagement survey of all employees in order to solicit feedback on employee concerns, experiences, and compensation, among other things. The results of the employee engagement survey are analyzed by gender, race, and ethnicity, and we take action to appropriately address ascertained issues. Further, as a federal contractor, our locations are regularly audited by the US Department of Labor.
The Compensation Committee of our Board of Directors establishes the goals and objectives of our executive compensation plans and determines the compensation of our senior leaders under those plans. The Committee regularly receives and considers investor feedback regarding Quest’s executive compensation program. The Compensation Committee annually reviews our employee compensation programs to determine whether they encourage excessive risk-taking, and to ensure they promote our goals, including with respect to pay equity across gender, race, and ethnicity.