Page 13 - BEQ Magazine Vol 4 Iss1

HOW THE COMMUNITY BENEFITS

FROM SUPPLIER DIVERSITY

Number of jobs
Monetary supported
contribution
to economy
Number of suppliers in Supplier Diversity program
Direct and Indirect Spend w/ diverse suppliers
Number of Awards and recognition
Outreach programs Impact Earnings
Input Output
through jobs

Winners: Economic
The Economy Prosperity
Participating Diverse businesses
Public Finance (increased tax base, tax revenues)
Corporate Responsibility, Procurement and Public Relations
Stakeholders (including government leaders, local communities, etc.)

This type of analysis is usually
summarized in an infographic show-
ing the number of diverse suppliers
in the program, the amount of direct
and indirect spend with these suppli-
ers and often the number of awards
and recognitions shown as metrics.
Economic impact is expressed as a
monetary contribution to the econo-
my overall, such as a specific number
of jobs created as well as the earnings
from the newly created jobs. This
analysis is valuable to stakeholders
(government leaders, media, local
community, etc), persuasive from a
corporate responsibility perspective
and it aligns key metrics with a mea- Robin R. Dillard, BEQ Pride, and Stefanie Francis, Hootology / Credit: Robin R.
sure of benefit to society from a pub- Dillard
lic relations perspective.
With the SDII, Hootology con- perception in key demographics, stakeholder buy-in,” says Francis. It
ducts original research by fielding a what methods and initiatives have moves beyond the idea that supplier
study with a sample of 3,000 repre- the most and least positive impact, diversity is “the right thing to do”
sentative U.S. consumers, balanced how the brand compares to others and legitimizes diverse, inclusive
for things like gender, ethnicity, in public perception and how these sourcing as another instrument to
region and age, on topics such as metrics translate to market share. add value to the brand’s marketing
brand favorability, perception of “Bringing an in-depth SDII re- via brand lifts and increased sales
diversity and purchasing consider- port to a budget meeting during a through consideration and usage of
ation. From the resulting data, they planning session or year-in-review products and services among target
can drill down to show how supplier meeting to demonstrate results
diversity influences overall brand can go a long way toward growing Continued on PAGE 21

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