Dec 14, 2021
Having a supplier diversity program in your organization is hard work, but they’re always worth the effort. Although it costs more money at first, it eventually pays for itself in the long-term. However, one of the common mistakes companies make regarding supplier diversity is having it simply for the sake of having it, which doesn’t translate to a better community relationship. So, how do you properly integrate a supplier diversity program in your company?
Today, we discuss why supplier diversity is more than just a business outreach program and how to have one with intent. We explain how supplier diversity programs can be a source of revenue. We describe the official definition of a small business according to the SPA. We also share how the environment is now being considered when partnering or merging in any industry.
"If you're going to do supplier diversity, be intentional about it." - Adam Moore
This week on Breaking Barriers:
- Defining supplier diversity as a revenue generator
- Why we should have partnered with diverse companies a long time ago
- How most companies are only looking at supplier diversity from a spending viewpoint
- The differences between companies that have supplier diversity programs and those that only have compliance programs
- What industries should do to have a diverse company that’s part of the "billion-dollar table"
- How the ecosystem becomes an essential factor when working with new and legacy companies
- The SPA definition of small business for tech and manufacturing
Resources Mentioned:
This podcast is brought to you by Hire Ground
Hire Ground is a technology company whose mission is to bridge the wealth gap through access to procurement opportunities. Hire Ground is making the enterprise ecosystem more viable, profitable, and competitive by clearing the path for minority-led, women-led, LGBT-led, and veteran-led small businesses to contribute to the global economy as suppliers to enterprise organizations.
For more information on getting started please visit us @ hireground.io today!
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