Commitment to Diversity and Inclusion

We believe a commitment to diversity means being inclusive of all people, regardless of age, gender, gender identity or expression, family status, race, ethnicity, religion, disability, sexual orientation, appearance, thought or mannerisms. Our collective differences make us a better company and help us better meet the needs of the diverse customers we serve.

CVS Caremark Diversity Profile

Diversity Recruiting

We employ pharmacists from all walks of life and who reflect the very communities we serve. Our recruitment strategy involves reaching out to universities and other institutions serving minority populations. We also engage recruitment agencies that specialize in sourcing diverse talent and senior managers have a performance goal measuring the diversity of their recruitment practices.

Diversity Council

Since 2001, our company’s Diversity Council, a group of individuals representing different functions across the enterprise, has helped to guide our overall diversity strategy. This includes efforts to attract and retain women and people of color. In addition, the Council has launched and developed a number of initiatives including:

• Diversity awareness training for all leaders who manage others
• Market research, through employee and customer surveys, to inform our diversity initiatives
• The inclusion of diversity metrics within the performance goals of all managers and above

Inclusive Leadership Behaviors:
In 2008, our Diversity Council worked to define and integrate the following inclusive behaviors into the CVS Caremark competency models that serve as the foundation of our talent planning and development initiatives.

• Demonstrates an unbiased approach to others by exhibiting courtesy, respect and appreciation for the diverse ideas, experiences and contributions of every colleague.
• Takes specific action to correct discriminatory or inappropriate behaviors or comments in a timely manner.
• Sets an example for the organization through inclusive hiring, development and advancement of the best talent.
• Seeks to understand and appreciate the perspectives of colleagues and stakeholders who have a range of different backgrounds, experiences and styles in order to build alignment.
• Builds a diverse team to achieve the best results.
• Provides opportunities for, and encourages others to participate in, skill-building activities that promote an inclusive work environment.
• Makes time to be personally visible and engaged with colleagues.
• Sets and upholds performance expectations in a fair and consistent way.

The Council continues to evolve in shaping an ever-growing and dynamic company culture. Some of the more recent concepts initiated through the Council have addressed multi-cultural marketing demands, and the formation of a supplier diversity structure.

Area Diversity Leadership Teams

In 2005, our research clearly indicated that our colleagues measure the company’s commitment to diversity based on the leadership practices they observe from their local management. As a result, Area Diversity Leadership Teams were formed in 2006 with the purpose of driving accountability to senior field management for leading diversity efforts.

Currently, there are nine teams comprised of senior managers in the field who meet regularly, within their respective markets, to incubate new ideas, ensure fair treatment of all colleagues, foster inclusive behaviors and lead by example. In 2008, we launched our first corporate diversity leadership team in the IS department at the Customer Support Center. As a result, our most recent company employee engagement survey yielded positive scores in measures of employees’ awareness of the company’s efforts to build a diverse workforce and an environment of acceptance and inclusion.

Diversity Training

In 2007, we committed to offering more diversity training opportunities for our employees and developed a specific diversity curriculum in 2008 as part of the customer service skills training. The training was geared for our hourly colleagues at the store level. Employees will begin to receive this diversity training as part of their onboarding process in 2009.

Employee Networking Groups

Our Employee Networking Groups support the diverse needs and interests of our colleagues. Each group creates annual business plans focusing on individual career development, mentoring opportunities and community volunteerism. Today, there are 11 Employee Networking Groups in our major retail markets, and five at our corporate office in Woonsocket, R.I. The groups serve women, African Americans, Latinos, Asians, mature workers and GLBT colleagues. Membership in each group is open to any employee who supports the mission of a given group.

Moving Ahead
Integrating diversity and inclusion efforts in support of our organization’s Vision, Mission, Values and business imperatives remains a priority. In 2009, we will:

• Work to ensure that we provide hiring, development and advancement opportunities to women and people of color across our company.
• Embed diversity practices into business units and departments through coaching, collaboration and key work initiatives.
• Champion and expand Diversity Leadership Teams and Networking Groups across the organization.
• Broaden employee participation in company-sponsored diversity events.
• Integrate or expand supplier diversity efforts across the enterprise.