Study: Corporate Social Responsibility Impact on Diverse Supplier Programs in 2022
How Embracing Diversity and Inclusion at all levels, and growing diverse supplier programs, can help strengthen an organization's corporate culture, both with potential customers and with existing and potential talent.
While Diversity & Inclusion have always been important to organizations as one of many aspects needed for a balanced and progressive workplace, many of the social issues that arose around the Pandemic years truly shone a spotlight on the need for more empathy, inclusiveness, diversity, acceptance and strength of character as organizations move into a new world of work and business. And such diversity and inclusiveness are not just viewed from an employee perspective – diverse suppliers also offer an opportunity for organizations to demonstrate their openness to expanding who they choose to work with by seeking out women-owned, minority-owned, and veteran-owned businesses, as well as others. Doing so allows them to benefit from unique solutions and ideas, while also demonstrating through their actions that diversity and inclusiveness are something they truly embrace at all levels.
The purpose of this study, conducted by Corporate Relocation Today, was to determine whether changes in societal attitudes toward diversity and inclusiveness had impacted organizational attitudes toward diverse supplier programs. We aimed to determine whether, within a relatively short period (2-3 years), the impact of such societal changes was substantial enough to have a significant effect on the number of companies investing in diverse supplier programs, and to identify any changes that had occurred since our initial study in 2019.
Here’s what mobility and relocation decision makers can expect to learn:
• Managing, sourcing, and evaluating suppliers: What’s changed? How are companies handling?
• Whether industry or company size is indicative of implementing a diverse supplier program
• Reasons for establishing the program
• Measuring ROI – Is it Important? How are companies doing it?
• Where to find diverse suppliers; which industries offer the best opportunity for growing a diversity supplier program?
• Opportunities for diverse suppliers and how to take advantage of them
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