Last summer, Peloton made a “Peloton Pledge”, where they planned to invest $100 million over four years to “fight racial injustice and inequity”, as well as for the “promotion of health and wellbeing for all. ”
At the time, there were 5 specific areas they planned to focus on. These included:
- Giving all Peloton employees a $3/hour pay raise, brining the starting hourly rate to $19/hr (a $60 million investment).
- Invest $20 million in Learning + Development programs for Peloton team.
- Invest $20 million in third-party, nonprofit organizations dedicated to this cause (such as their recent $500,000 donation to NAACP).
- Making content more available to underserved communities (with a goal that 10% of classes be taken on Digital).
- “We commit to becoming a truly anti-racist organization and delivering on our robust, long term agenda of diversity + inclusion goals, beginning immediately with anti-racism learning opportunities at all levels of the company, a review and report of diversity data, a comprehensive inclusivity audit, and the implementation of bias-mitigating strategies in all key points of the employee lifecycle (hiring, reviews, promotion, and more).”
Today, Peloton has provided their first status update on their progress towards the pledge. Their first steps were all internal facing changes, as they stated “We believe the work of antiracism starts from the inside-out – in order to engage our community in antiracism, we have to look inward at our own workplace. As we prepare to announce nonprofit partnerships and community investments this spring, we are first sharing with you the actions we have taken internally as we aspire to become an antiracist company. ”
First, Peloton has made steps to expand their Diversity, Equity, & Inclusion (DEI). As part of this, they announced the hiring of Dr. Christal Morris as the new SVP, Global Head of Diversity, Equity and Inclusion, who will “drive the implementation of our team-wide diversity and inclusion efforts” The department hopes to “hold space for ongoing bold and transparent conversations, reflecting on, and then changing, our policies and practices, and tracking data in areas where we aspire to improve.” According to Dr. Morris’ LinkedIn Profile she started that role this month. Previously, she was the VP of Global Inclusion & Diversity at IDEX before starting her own consulting company.
Secondly, Peloton confirmed that in July they had completed their goal of raising starting hourly salaries to $19 USD. This is to help “attract and retain critical team members, but also to reduce the racial wage gap”
Third, a few learning programs appear to have officially launched
We are expanding our Learning + Development efforts, including listening sessions with our teams and employee resource groups (ERGs), speaker series on race and equity, and antiracism learning journeys for leadership and ultimately for all team members. We are also launching The University @ Peloton, our higher education platform for our team dedicated to elevating career trajectories within Peloton. These evergreen, continuous programs will ensure that every team member has an opportunity to learn, grow, develop, and practice the behaviors we want to see magnified at Peloton and beyond.
Finally, Peloton has made some strategic recruiting partnerships. Some of this was announced in November as part of the Beyonce partnership.
To build this pipeline, we’ve formed strategic recruiting partnerships, including with Historically Black Colleges and Universities, and added anti-bias training and techniques into our recruitment and interviewing processes. We’ve updated our referral practices to promote antiracist tenets in our hiring and expanded our onboarding process, which includes inviting our eight employee resource groups (ERGs) to welcome our new team members.