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So, Dave, thanks for joining us today.

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We really appreciate you making the time.

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It's a pleasure.

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I know diversity and inclusion

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is a personal passion of yours.

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Why has this become so important

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and why do you see it as important for Lilly

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in terms of its organization and its employees?

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If we believe, as I do,

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that talent is uniformly distributed across gender and race

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and all other dimensions of difference,

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if you want the best talent and you're underrepresented

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in one of those dimensions, by definition

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you're missing a competitive edge.

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There's an emotional side too,

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which is about engaging your workforce.

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And I think there, we found as we engaged

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on a big lift in D&I,

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there was so much pent up positive energy

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that became unleashed by focusing on those differences

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and raising up groups that, in society, are not raised up.

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So Lilly has talked a lot

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and used the pharma marketing construct

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around customer journeys, and you've used that,

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I think, internally on a number of

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your diversity efforts around employee journeys.

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So we wanted to tackle those two things.

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One is really pull out

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where were differences profound,

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where were women feeling that they weren't

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at an equal footing with men

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so that we could then do the second,

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which is how to act against those problems.

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We could diagnose them much more carefully.

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To really understand frustrations, intentions,

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you need to do qualitative research and ask people.

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So, journaling, and focus groups,

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and using qualitative market research techniques.

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We turn that against the challenge

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of an employee's journey through our company.

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How did they start?

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What happened that frustrated them along the way?

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As they ascended in management,

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how were those challenges differing?

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And we all know the power of storytelling and narrative,

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and by creating narratives that were not

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individual women that actually responded,

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but generalized journey experiences,

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women felt incredibly listened to in our company.

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It was describing their experience and you could see

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and feel emotionally the difference.

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So we got past the why are we working on this discussion,

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and quickly to, we've got to fix this.

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We don't want that in our company.

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And so it's been a profound catalyst.

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We've replicated it for women, for Blacks, Latinos, Asians.

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We're currently doing LGBTQ, which is going to, I think,

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present some new insights

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that will surprise many of us as well.

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Are there ways that you actually measure

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the business benefits that you mentioned

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from diversity and inclusion?

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We think about D&I as having four main impacts on us.

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One is talent sourcing.

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Another is talent unlock inside the organization,

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or the best people getting to the right jobs.

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The third is innovation.

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And the fourth is market impact.

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So are we reaching diverse populations?

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We do set goals and measure ourselves against goals

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for representation at every level of the company

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in every division of the company

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for the major ethnic groups in the U.S.

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and globally for women.

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We measure our performance in communities of color,

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reaching particularly the Latino,

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Hispanic communities in the U.S.

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It's been a challenge for pharma and a challenge for Lilly.

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We serve a number of diseases

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that are quite prevalent in that community

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and that's an area we're measuring performance as well.

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Lilly is headquartered in America's heartland,

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yet a lot of the diversity and inclusion issues are global.

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How do you adapt what you do or approach across

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different cultures and markets that you operate in?

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We've built a set of tools to understand

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and then impact D&I across the company,

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but of course the specific dimensions

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of diversity in a particular culture are highly contextual,

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and so there we let our local leadership decide

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what are the priorities for you and your business?

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The goal everywhere is to look like and access talent

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that is similar to the entirety of the population.

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Can you tell us a bit more about

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the reverse mentoring program you have

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with your LGBTQ employees and with senior executives?

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The idea is that the diverse person who's often junior

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is mentoring the executive in

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not just how to interact

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with employees of that difference,

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but also even the subtleties that perhaps

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we all unintentionally project that are not effective,

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or in some cases offensive.

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What else do you see left

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to do on diversity and inclusion?

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As I now look at the leading metric,

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which are of the jobs we can staff each day,

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how are we doing, it looks very promising.

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I think we have a chance over the next several years

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to have gender balance across the company at all levels,

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to have minorities in the U.S. represented

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at the rate of their population in the U.S.

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Those are real goals we can achieve.

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Will we be done with D&I there?

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No, no way.

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Because D is a precursor to I.

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Diversity is often described as being invited to the party.

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The inclusion is being asked to dance, basically.

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Are you engaged in the decision making,

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in the leadership of the company fully?

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And we have a lot of work to do there.

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Probably the diversity journey,

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we're at the end of the beginning here.

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And I think we're seeing when we work on that

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we can make real progress and become a very diverse company,

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and that by itself is a huge achievement.

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What do you then see as your role in taking that on

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and making it continuing to advance?

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When push comes to shove, you have a high performer,

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who may be not so inclusive, what happens to them

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in their career versus someone who is inclusive?

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That's treating it like a business issue,

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and I think that's a unique role a CEO can play as well.

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Dave, thank you for joining us today

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and sharing your experiences and learnings,

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and really congratulations to Lilly

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for the success you've had in really driving diversity

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and building an inclusive culture.

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Thank you, it's been a pleasure.