Supplier Diversity Maturity Matrix
The Supplier Diversity Maturity Matrix fosters a deeper understanding of supplier diversity initiatives, increasing transparency and understanding of impact among stakeholders and communities.
- Alignment of supplier diversity initiatives to key corporate commitments;
- Development of plans to improve strategic messaging;
- Development of milestones for strategic planning.
Many organizations either view their supplier diversity programs as part of their corporate social responsibility program or as a check the box strategy to meet a regulatory requirement. Companies that go beyond a “check the box” policy can benefit from previously unforeseen returns on their investment.
Establishing a Strategy
There needs to be a fundamental shift in business diversity programs that will now have companies implementing programs that will monitor economic inclusion and its overall impact on the company as well as on the local economies. A data-driven supplier diversity program is a good business strategy that offers additional value to the company and its local communities.
Driving Leadership Commitment
Business Diversity starts at the top with leadership. Once the CEO supports Supplier Diversity, we craft recommendations for how best to manage the supplier diversity program. We consider culture, communication, and more to deliver the optimal way to manage the supplier diversity program.
Progressing the Maturity Model
We foster a deeper understanding of the organization’s initiatives, increasing transparency and understanding of its supplier diversity program impact among stakeholders and communities. We help organizations set goals and develop strategies to improve their performance over time.
“Diversity helps businesses and communities thrive. It’s that simple. When there are more options, more voices and more ideas, there are more opportunities for business excellence.”
—Darlene Fuller, Senior Director of Supplier Diversity, Sodexo