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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.
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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:
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. 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 19 children of AE employees
globally as part of our Child of Employee Scholarship program.
globally as part of our Child of Employee Scholarship program.
Training and Development
Advanced Energy is committed to investing in learning and professional development. Our employees have access to a wide range of programs, classes and resources that help them excel in their careers and share what
they learn with their peers and leaders. Our performance management process includes performance feedback and career development discussions that are dynamic and actionable throughout the year. In 2023, we continued to roll out courses on employee engagement, change management, and leadership excellence. In addition, we provide financial support for college and graduate education and access to online learning in
local languages to help further the careers of our entire workforce.
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. At the end of 2023, 435 employees had participated in this program. 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.
As part of our career and skills development programs, we offer global mobility opportunities for our staff. This provides our employees with a chance to learn new skills and experience different cultures, and the opportunity to build strong working relationships with colleagues from across our worldwide locations. Mobility, and the nurturing of potential and experience, drives our development as a company and enriches and strengthens our culture.
they learn with their peers and leaders. Our performance management process includes performance feedback and career development discussions that are dynamic and actionable throughout the year. In 2023, we continued to roll out courses on employee engagement, change management, and leadership excellence. In addition, we provide financial support for college and graduate education and access to online learning in
local languages to help further the careers of our entire workforce.
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. At the end of 2023, 435 employees had participated in this program. 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.
As part of our career and skills development programs, we offer global mobility opportunities for our staff. This provides our employees with a chance to learn new skills and experience different cultures, and the opportunity to build strong working relationships with colleagues from across our worldwide locations. Mobility, and the nurturing of potential and experience, drives our development as a company and enriches and strengthens our culture.
Golden Behaviors
In 2023, Advanced Energy implemented a global EHS culture campaign called Golden Behaviors to focus on raising awareness around key EHS risks. These Golden Behaviors are rooted in AE’s Core Values and act as guiding principles to promote a strong EHS culture. These were focused
on minimizing likelihood of high severity incidents and promoting a safe and healthy work environment.
To validate EHS compliance efforts, Advanced Energy undertook third-party EHS compliance
audits at 11 of our locations globally
In 2023, Advanced Energy implemented a global EHS culture campaign called Golden Behaviors to focus on raising awareness around key EHS risks. These Golden Behaviors are rooted in AE’s Core Values and act as guiding principles to promote a strong EHS culture. These were focused
on minimizing likelihood of high severity incidents and promoting a safe and healthy work environment.
To validate EHS compliance efforts, Advanced Energy undertook third-party EHS compliance
audits at 11 of our locations globally
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.
In 2023, our Total Recordable Injury Rate (TRIR) was 0.17 and Lost Time Injury Rate (LTIR) was 0.13, outperforming the North American Industry Classification System Code (NAICS):334419 (other electronic component manufacturing) 2021 industry benchmark (TRIR:1.5 and LTIR: 0.6).
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.
In 2023, our Total Recordable Injury Rate (TRIR) was 0.17 and Lost Time Injury Rate (LTIR) was 0.13, outperforming the North American Industry Classification System Code (NAICS):334419 (other electronic component manufacturing) 2021 industry benchmark (TRIR:1.5 and LTIR: 0.6).
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.
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. The committee
organized volunteer events and provided investment, sponsorship and donations to
eight 501(c)(3) organizations that improve education, the environment and health and social services within the communities in which we
operate.
organized volunteer events and provided investment, sponsorship and donations to
eight 501(c)(3) organizations that improve education, the environment and health and social services within the communities in which we
operate.
Volunteerism
Our Community Investment Committee is led and supported by our employees. The committee organized volunteer events and provided investment, sponsorship and donations to eight 501(c)(3) organizations that improve education, the environment and health and social services
within the communities in which we operate.
within the communities in which we operate.
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 worldwide to provide, training and mentoring opportunities.
power solutions. We partner with academic institutions in worldwide to provide, training and mentoring opportunities.
