Health and Saftey
The health and safety of our employees is paramount. In addition to meeting that fundamental obligation, we strive to foster a culture that thrives on diversity, equity and inclusion, and operate our business as a good corporate citizen that supports our communities.
Our core value of Safety First expresses our belief that the health and well-being of our fellow employees is essential to our ability to achieve our mission to be an industry-leading provider of high-quality steel and to deliver exceptional value for our customers, employees, and investors.
A safety metric is included in the annual incentive compensation plan for all salaried employees. We aspire to achieve zero workplace injuries and are committed to improving our safety record year-over-year.
Our global Environmental, Health and Safety (EHS) Policy guides our approach to safety. We are committed to continuously improving our EHS performance by fostering cooperation among employees, company leaders and government. Every TimkenSteel employee and contractor is responsible for understanding and supporting the policy. We help them do this successfully through education, training, evaluation and enforcement.
(1) Total Recordable Injury Rate is defined as OSHA recordable incidents x 200,000 / hours worked
(2) Lost Time Injury Rate is defined as OSHA days away from work cases x 200,000 / hours worked
Diversity, Equity and Inclusion
Our commitment to promoting diversity, equity, and inclusion (DE&I) is woven into many aspects of our business. We foster diverse perspectives and create an equitable, engaging culture through inclusive workplace policies designed to strengthen our reputation as an employer of choice.
In 2022, we developed our companywide DE&I vision and laid the foundation for continued growth with the formation of our DE&I Advisory Council to foster greater awareness and training within the organization. The TimkenSteel DE&I Advisory Council aims to advance and champion the company’s efforts to leverage our unique perspectives, backgrounds, and experiences to make a positive impact and promote unity within TimkenSteel and our communities.
We are committed to diversity at all levels of our organization. 44% of our Board members are women or ethnically diverse. As of December 31, 2022, 45% of our Board members were diverse in terms of gender, race, or ethnicity.
We foster a culture that lends a variety of perspectives and expertise to our operations and reflects the communities in which we operate. Our Employee Resource Groups (ERGs) provide networking, personal growth and professional development opportunities. Any TimkenSteel employee is welcome to join our ERGs:
- INSPIRE encourages and supports diversity, equity, and inclusion through its mission and helps to create and foster a sense of belonging and community for all employees at TimkenSteel.
- STEPS encourages all employees to maximize their total well-being: physical, emotional, and financial. TimkenSteel recognizes the value of the collective health of employees and the impact this has on individual and organizational achievement.
- VETS strives to recognize and integrate veterans with all TimkenSteel employees, and to continue building and developing a stronger workforce by giving veterans a voice within the company. Approximately 15% of our workforce has served in the U.S. military.
Community Impact
TimkenSteel takes a holistic approach to community engagement, and we seek to understand and appropriately respond to the needs of the communities in which we live and work. Community engagement is a critical element of our leadership development programs, and our ERGs are encouraged to support community initiatives that align with their goals and aspirations.
We continue to support education and focus on helping young people in our communities to reach their highest potential. Through these efforts, we hope to create a strong pipeline of professionals for our industry and our local economies.
Our community engagement activities include:
- Employee volunteer efforts
- In-kind donations and monetary support
- Corporate sponsorships
- Board service