Compensation and Benefits
F5 offers a competitive Total Rewards package intended to attract, retain, and motivate our employees. Our package includes market-competitive pay, incentive plans, restricted stock unit grants (RSUs), an employee stock purchase plan, retirement plans, healthcare, paid time off, and family leave.
We continue to evaluate and enhance our programs to support the diverse needs of our employees’ overall health and wellbeing. In fiscal year 2022, this included the worldwide renewal of our quarterly “Wellness Weekends,” a paid subscription to a meditation app, and mental health awareness training for all managers and our executive leadership team.
We also made a number of enhancements to ensure equitable employee benefits in the United States in fiscal year 2022. We added Juneteenth as a company holiday, expanded our healthcare travel reimbursement to assist our employees with access to certain covered medical procedures that may be unavailable in their state of residence, increased our fertility and adoption assistance benefits, and removed out-of-network penalties for therapy visits on our medical plans to open up greater access to diverse therapists.
Diversity and Inclusion
F5 believes our differences – when embraced with humility and respect – drive smarter decisions, increased innovation, stronger performance, and a culture where everyone can be themselves and reach their full potential.
Outlined in our strategic framework called “IDEA,” Inclusion, Diversity, Equity and Allyship requires focus and engagement at all levels of the organization and to be embedded into our ways of working.
To increase inclusion at F5, we foster communities through our Employee Inclusion Groups (“EIGs”) – F5 Ability, F5 Appreciates Blackness, F5 Connects Women, F5 Latinx e Hispanos Unidos, F5 Military Veterans, F5 Multicultural and F5 Pride – bringing people together across F5 and around the world. All seven EIGs are led by employees, with a dedicated annual budget and executive sponsor. F5’s EIG leaders partner with the Company’s Diversity & Inclusion team to cultivate personal and professional growth amongst their members. Our EIG leaders’ efforts to build a thriving community of diverse individuals at F5 are recognized through quarterly bonuses.
Our diversity as a company is advanced by the steady increase in our transparency on the actions we take to build a culture of belonging and representation. F5’s progress during fiscal year 2022 is detailed in the second annual F5 Diversity and Inclusion Report available at f5.com under Company — Diversity & Inclusion and in the results of the diverse representation and employee inclusion score metrics for the Company’s executives’ short-term cash incentive program included in the section below entitled 2022 Cash Incentive Award.
To increase equity in opportunities across F5, we hosted our biennial development conference focused on leadership development and targeting our Black and Latino(a) communities within F5. This year’s conference tripled the number of attendees and had a satisfaction rating of 4.6 out of 5. Replays of several of the conference’s speakers are available for public viewing on F5’s YouTube channel.
Allyship is critical to the sustainability of our diversity and inclusion program at F5. We hosted an allyship track at our development conference and launched micro-trainings across our workforce and around the world. Each month, content is made available to the allyship community to deepen their understanding of experiences different from their own and gain new skills to help speak up and be an active participant in creating a more diverse and inclusive F5.