A diverse supplier certificate is an important tool for any business. Having a diverse supplier certificate lets your customers know that you are committed to providing the best products and services to them, made by people from all walks of life.
The benefits of having a diverse supplier certificate are many – increased revenue, reduced risk, new talent pool, improved team dynamics – but what really sets these certificates apart is the actual certification process.
Unlike traditional certifications like ISO 9000 or LEED Gold Certification which take months (or even years) to achieve; achieving a diverse supplier certificate only takes four steps!
In this article, we will discuss those four steps and how they can help your company reach its full potential.
A diverse supplier certificate is a certification that displays your company’s commitment to diversity and inclusion.
Increased Revenue – A diverse workforce leads to better customer satisfaction, which will lead in turn to increased revenue for you as an employer. One study showed that customer loyalty correlates with employers’ propensity towards hiring people from different racial backgrounds; meaning more satisfied customers equals less turnover! And remember: happy employees make good salespeople so this increase in business may be worth it even if you’re not ready yet!
Reduced Risk – We all know how important risk assessment can be when running any type of business, but one thing we often forget about is our suppliers. By including diverse suppliers, you’re reducing your risk of being sued for discrimination or negligent hiring. If you are found to have discriminated against a supplier in any way, they can sue to receive damages that rightfully would’ve been earned had the decision not been made and so by including diverse suppliers as early on as possible, this reduces the likelihood of these types of lawsuits occurring even after many years!
Reduced Costs – Including diverse suppliers from day one will lead to big savings down the line. By doing business with a group that is less likely than others to discriminate based on age, gender identification, and religious background, etc., costs often go down because there’s no need for things like diversity training programs which cost money. One study showed that companies who were using inclusive supplier management strategies saved on average $11,500 per year while those who weren’t inclusive were found to have an annual cost of $255,000!
This proves advantageous when the company is looking for new customers or trying to retain existing ones by showing how much diversity is valued within its organization.
The diversity vendor certification is also good for employees who want to work in a diverse environment because it will help attract and retain them!
It’s an excellent way to promote your organization. Quite often people have never even heard about having a diverse supplier certificate so when businesses advertise this service on their website or other promotion channels, it can be very effective at making customers feel like they’re buying from a company with values that align with theirs. It sets companies apart as being progressive and open-minded which is attractive in today’s world where there are endless amounts of competition.
– You must be a diverse company or organization
– Demonstrate that you have an inclusive workplace by using e.g. unconscious bias training and implementing policies to promote equal opportunities for people of all backgrounds
– Spend some time with the certification assessor going through your business processes, procedures, diversity policy, etc., so they can confirm what needs improving to get certified as a diverse supplier
– Submit evidence when asked over email about how your employer is diverse and if it’s not up to standard there will be additional work that needs doing to make them feel comfortable awarding you the certificate!
In conclusion, organizations need to embrace diverse suppliers when companies or organizations can be certified as diverse suppliers because they show how their work environment has been improved by being inclusive.