Diversity Awareness Month
As October rolls around, we are reminded that it’s Diversity Awareness Month, a time when organizations across the globe focus on celebrating and promoting diversity in all its forms. One vital but sometimes forgotten aspect of this celebration is Supplier Diversity, which JP Morgan emphasizes as the inclusion of businesses owned by individuals from underrepresented groups in a company’s purchasing and business practices. Given the month, October is the perfect time for companies to evaluate and strengthen their commitment to supplier diversity. Here are three actionable steps for companies to celebrate Diversity Awareness Month while advancing their Supplier Diversity and overall Diversity initiatives:
1. Assess and Diversify Your Supplier Network
Begin by conducting a thorough assessment of your current supplier network. Identify areas where diversity is lacking and set measurable goals for improvement. Rather than vaguely aiming to “improve” supplier diversity, set a clear, measurable goal for the upcoming year. Reach out to local and national minority-owned, women-owned, veteran-owned, LGBTQ+-owned, and disabled-owned businesses that align with your needs. Encourage bids from these diverse suppliers. Establishing partnerships with diverse suppliers not only fosters inclusion but also often brings fresh perspectives and innovation to your supply chain.Need some fresh ideas? Here are a few of our favorite vendor to try out:
- ArkaHR for your outsourced HR needs
- City Sealcoating for paving, sealcoating and asphalt maintenance
- Cupcake Therapy provides delicious tree nut-free and peanut-free cupcakes
- Peachbox curates beautiful urban luxury gift boxes that work well as employee gifts
- Waku can provide your organization with replenishing herbal teas with prebiotic powers and 0g of added sugar
- Freshfood Generation satisfies your catering needs combining New England ingredients with bold Caribbean and Southern flavors.
- 3Islas Group gives you authentic Puerto Rican, Dominican, and Cuban catering
- City Fresh Foods delivers fresh wholesome meals to childcare centers, schools & rehabilitation programs
- LJV Development provides general construction, subcontracting and construction management
2. Host Supplier Diversity Workshops and Seminars
Education is a powerful tool for change. Consider hosting workshops and seminars during Diversity Awareness Month to educate your employees and suppliers about the importance of supplier diversity. These events can facilitate meaningful conversations, promote understanding, and inspire action. They can also provide a platform for networking and collaboration, fostering a diverse and inclusive ecosystem.
It’s also worth hosting a How to do Business With webinar. Through this type of programming you can invite prospective suppliers and vendors to teach them about doing business with your organization. Include details such as company overview, your commitment to diversity, introduction to key personnel, specific forms required, and details around any relevant platforms they may interface with.
3. Recognize and Celebrate Supplier Diversity Achievements
Showcase your commitment to supplier diversity by publicly recognizing and celebrating achievements in this area. Highlight success stories of diverse suppliers and share these stories with your stakeholders. Share the company’s story, offerings, and impact to educate employees.
Or invite diverse suppliers to present virtually to employee resource groups or at events. Recognizing and celebrating diversity not only creates a positive image for your company but also motivates others to embrace supplier diversity. Feature a different diverse supplier each week through internal communications and digital signage.
Use October to reaffirm your commitment to supplier diversity. By assessing and diversifying your supplier network, hosting educational events, and recognizing achievements, your company can take meaningful steps toward creating a more inclusive and equitable supply chain, benefiting both your organization and the communities you serve.
For more information or assistance with your organization, we’re happy to help. Conscious Customers can help your organization support or create a supplier diversity program.
Not sure where to start when it comes to supplier diversity? Let us help you. Book a free consultation with us at [email protected]