Environment, Social and Governance
Employee Engagement and Wellness
Employee engagement and wellbeing is important for Audinate’s success. Feedback from the annual employee engagement survey and mid-year pulse survey was particularly important during Covid-19 and is helping us as we transition to a “new normal” operating environment.
The results of these surveys, including all employee comments, are shared with the Remuneration and Nomination Committee and the Board. FY21 employee survey responses strongly indicated that our employees felt supported by Audinate during the pandemic and that the Company had adapted well under the circumstances.
The FY21 engagement results compared favourably with the top 25th percentile of the global peer group of small technology companies, which was a pleasing result given the difficult operating conditions. Feedback on questions related to wellbeing were used to inform the development of Audinate’s Wellbeing Strategy. Wellbeing initiatives include an Employee Assistance Program, monthly wellbeing themes, mental health first aiders and wellbeing training.
Diversity and Inclusion
Audinate has a strong commitment to diversity and recognises the value of attracting and retaining people with different backgrounds, knowledge, experiences, and abilities. The Company understands that diversity not only encompasses gender but extends to age, ethnicity, religious beliefs, cultural background, language, marital or family status, sexual orientation, gender identity, disability, socio-economic background, perspective, and experience.
Audinate’s ability to foster a diverse and inclusive workplace is essential to the Company’s ability to attract, engage and retain the talent crucial for ongoing success. The policies, practices and values of the Company ensure an environment in which individual differences are valued and all employees can realise their potential and contribute to the Company’s success.
Audinate is proud of the diversity of its people. Of our ~130 people across 10 countries, there are 21 nationalities and 24 countries of birth represented (as at 30 June 2021). There is also a broad representation of age groups, with the age range spanning 5 decades.
At the end of FY21 females represented 24% of Audinate’s workforce and 29% of the Senior Executive Team (CEO and executive direct reports). The female representation on Audinate’s board is 17% (as at 30 June 2021). Audinate is committed to supporting increased female employee representation and is mindful of several factors that influence this. Low turnover of existing employees constrains the opportunity to address the current gender mix. The gender mix in relevant talent pools is also a strong influencing factor.
In FY21 Audinate assessed that 79% of its roles required relevant engineering or related qualifications and/or AV industry experience. According to Engineers Australia report ‘Australia’s Next Generation of Engineers’ (2020) only 15% of Engineering degrees (all disciplines) completed since 2001 were completed by females, and indicatively, in 2018 only 8% of Electrical and Electronics Engineering course completions were by females.
Data on the AV industry is scarcer but one indicative data point is that 11% of attendees at the industry’s largest tradeshow were female. The 24% female composition of the overall Audinate workforce is therefore more favourable than the gender mix in the available talent pools. Nonetheless, Audinate is committed to practices and an environment that provide increased opportunities for female representation.
More detail is contained in the Company’s Diversity Policy.
|Country of Birth||%|
|Various (17 countries)||18%|
|21 - 24||4%|
|25 - 34||23%|
|35 - 44||32%|
|45 - 54||29%|
|55 - 64||10%|
Diversity and inclusion objectives
Over the two year period to 30 June 2022 Audinate committed to achieve several objectives to support fostering a diverse and inclusive workplace. Improvements were also identified to support the embedding of diversity and inclusion into our recruitment strategy. Implementation of these initiatives will facilitate the attraction of diverse candidate pools and support unbiased selection decisions.
Employees were consulted on diversity via the annual employee engagement survey. Employee views were overwhelmingly positive regarding the treatment of men and women, and whether people from all backgrounds have equal opportunities to succeed at Audinate. During the past year an updated Appropriate Workplace Behaviour Policy was communicated across the Company, and Board reporting processes were strengthened to encompass matters relating to the Code of Conduct and Whistleblower Policy.
Audinate set an aspirational objective for 30% of people manager vacancies to be filled by females. The purpose of the objective is to build an environment that fosters female participation and to increase female candidate pools for future senior executive opportunities. In FY21 60% of these vacancies were filled by females.
Covid-19 has enabled Audinate to experiment successfully with ‘work from home’ and increased collaboration and productivity leveraging flexible working arrangements. Our Hybrid Work Policy (formerly the Interim Flexible Work Location Policy) will continue to be refined over time as Audinate gains experience with remote working practices and develops further understanding of how best to support flexible working.
We have a number of Board endorsed policies and statements which focus on company culture including Corporate Governance Statement, Code of Conduct and Diversity policies:
All of these documents are regularly reviewed and updated as necessary.
Supply Chain Management
When selecting suppliers and contract manufacturers we evaluate the quality of their products as well as related controls and processes. This includes an assessment of compliance with quality standards like ISO 9001, Modern Slavery Act requirements and Conflict Minerals regulations. The Company has a long-standing practice of directly managing relationships with key component suppliers rather than relying on contract manufacturers to source all components for the following reasons:
- Direct evaluation of key component suppliers is part of our quality assurance process;
- Negotiating improved pricing or supply arrangements for both Audinate and our OEM customers;
- Managing lead-times and supply chain risk directly; and,
- Fostering direct relationships with key technology suppliers and partners.
Our contract manufacturer VTech Holdings Limited (‘VTech’) is listed on the Hong Kong Stock Exchange and operates manufacturing facilities in mainland China and Malaysia. VTech publishes an annual Sustainability Report, which includes statements on ISO 9001 accreditation and compliance with Modern Slavery and Conflict Minerals regulation. Our other key suppliers and partners are all leading global technology companies and publish similar annual reports.
Audinate’s long term strategy is to reduce the amount of on-premises AV equipment and facilitate a transition to AV services in cloud-based software form. Amongst other things, this will improve societal environmental outcomes by ensuring improved audio-visual experiences for people, improving virtual collaboration and hybrid working arrangements. Audinate is also in the early stages of investigating its environmental footprint.