Social

We care deeply about our people and global community, and work to earn and keep the trust of our employees, customers, partners, and the communities where we live and work. To fulfill our social responsibilities, we establish high standards for our operations as well as our key manufacturing suppliers. Those standards can be found in the following documents:

From the integrity of our supply chain to philanthropy, human rights to worker health and safety, MPS is committed to operating our business in a way that balances economic, environmental, and social imperatives, and believes that doing so enhances our ability to innovate and compete.

Our employees are our greatest asset. We work to attract and retain world-class talent who share our foundational values, which we feel contributes to our ability to consistently deliver the highest quality products to our customers.

Our employees, and their unique expertise, are a critical element to our success and we believe they play a key role in creating long-term value for our stakeholders. Attracting and retaining the best and brightest employees is at the core of our recruiting philosophy. The demand for top talent in the semiconductor industry is increasingly competitive. Our intern and new college graduate recruiting programs are a sustainable source of talent, comprising of a significant percentage of our new hires every year.

We partner with universities around the globe to provide engineering students, and their professors, opportunities to learn about MPS and engage with our company’s leadership. During these engagements, we provide design kits to enhance engineering students’ educational experience, allowing them to experiment with advanced technologies and build and test real-world, functional analog design circuits. This hands-on learning approach gives students and professors the freedom and creativity to expand the scope of course materials and to explore real-time design scenarios right in the classroom. In addition, these programs provide us with a robust candidate pool as many of our new college graduate hires learned of opportunities at MPS through these programs.

We also encourage employees to submit referrals, and over one-third of our new hires come from internal recommendations. We train and develop our entry-level and managerial hires to allow them to grow and advance professionally.

We also have many highly specialized roles requiring years of experience, so we utilize our own hiring strategy to ensure that we attract specialized industry talent. One of the methods we use to recruit and hire for more specialized roles is by attending industry conferences and tradeshows, where attendees are experienced in our technologies and the end markets in which we operate.

Leadership development and succession planning at all levels of the company is key to successfully executing our business strategy. With the goal of attracting and retaining the top talent in the industry, we work to establish a pipeline for the next generation of company leaders.

Through our involvement with organizations like the Institute of Electrical and Electronics Engineers (IEEE), we engage with faculty and researchers at universities and technical education institutions, allowing our engineers to provide input on curriculum while simultaneously providing faculty and researchers with opportunities to receive training on the latest cutting-edge technology in our industry.

We support career and educational advancement for our employees by providing on-the-job training through goal-setting, coaching, and feedback. As a leader in power solutions, our employees learn from some of the most talented people in the industry and gain knowledge on technical skills needed for the job. We also offer college tuition assistance if pre-approved by a manager, and we subsidize advanced technical education programs and online technical certifications. Our library of live and on-demand learning experiences provides our employees with the opportunity to explore their interests and sharpen their skills through workshops, panel discussions, and speaker-based forums.

MPS also ensures to assess our employees' training needs through direct feedback. Annually, managers are required to assess their teams to identify any potential knowledge gaps that they feel could be met through receiving formalized training courses. For any knowledge gaps identified within our annual assessments, MPS provides the tools and resources needed, both internally and through external vendors, to meet the needs identified by the management team. These trainings are recorded within each employee’s personal development record for full credit of trainings provided. MPS is 100% compliant in meeting its mandatory compliance training. Additionally, we host Quarterly Trainings that are available to all employees. These trainings are facilitated by an outside vendor and recorded within our internal training record system. All external trainings are reviewed by MPS employees for efficacy to ensure our HR team is providing the most effective training material for our staff.

We view the professional growth of our employees as a powerful investment. Employees own their career development, with the support of human resources and management. We have a formal annual performance evaluation process, but also encourage employees and managers to meet regularly to discuss performance goals and career development.

We value our employees, management, and leadership, and we have designed our compensation program to reflect the importance of attracting and retaining talent and incentivizing excellence. We have a long-standing practice of granting equity incentive awards to our executives and broadly among our employees. Approximately 39% of our total workforce participates in the equity incentive and/or employee stock purchase plans.

Our Compensation Committee utilizes feedback from our stockholders to design pay-for-performance equity programs for executives and key personnel to tie achievement of a combination of different performance goals, including revenue, operating metrics, and stock price appreciation. The effectiveness of these equity programs in building a sustainable business model focused on long-term value creation for our stockholders is reflected in our market share gains, revenue performance that is consistently above the industry and stock price appreciation.