Philips Named to the Forbes Best Employers for Diversity 2023 List

Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the company earned a spot on Forbes’ 2023 “America’s Best Employers for Diversity” list. This is the fourth time that Philips has appeared in the ranking, which is limited to 500 organizations across the country and just 13 in the Health Care Equipment & Services category.

Philips integrates inclusion, belonging, equity and wellbeing into every aspect of the employee experience, starting when prospective candidates are first considering joining the company. Philips has taken strides to develop its diverse talent and increase representation in all parts of the company with an eye toward gender, race and ethnicity. The company supports 12 growing volunteer-led employee resource groups globally, with 10,000+ members and 14 executive sponsors, has begun successful mentoring programs, and nearly doubled its number of Black employees in company leadership roles. From learning campaigns aimed at mindfulness to workshops on topics like mitigating bias, Philips follows its core principles in hiring diverse employees and making sure they feel valued and have opportunities to advance: Listening before acting, focus on movement, inclusion as actionable, walking the talk, and embracing equity.

“Our focus is to create a workplace where our employees individual needs are recognized, where their voices are heard, their lived experiences are valued, and an environment where they can be themselves,” said Sonam Lalwani, Head of Diversity, Inclusion and Wellbeing, Philips North America. “We are not only committed to transformation, but lasting, sustainable change that yields the result of a diverse workplace, inclusive and equitable for all.”

The Best Employers for Diversity were selected based on survey from approximately 45,000 U.S. employees working for companies with a minimum of 1,000 employees. Participants rate their organizations on criteria such as age, gender, ethnicity, disability and LGBTQ+ equality, as well as general diversity. Forbes also asked respondents from underrepresented groups to rate businesses other than their own.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 74,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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