COVID-19 resulted in over 20.5 million jobs lost in the U.S. alone. As the economy recovers, workforce participation is at an all-time low, falling to 61.2% in March 2021, the lowest it's been since 1976. Unemployed, laid off and furloughed workers that do return to the workforce do so with a fundamental shift in the mindset, impacting how and where work gets done.
Diversity and Inclusion
Supply chains that take advantage of diverse suppliers are often cited as being more agile, resilient, innovative, and sustainable. They are credited for promoting consumer trust and driving competition.
So far in this series on diversity and inclusion, we have explored a historical perspective on supplier diversity in the enterprise, tips to improve it, and how the supplier community can leverage their diversity status. Now we will discuss how procurement leaders can incorporate diversity and inclusion into their team management strategies.
With a pandemic, a recession and protests over racial injustice, the need for more equity and equality is ever-present. Diversity and inclusion (D&I) initiatives have generated increased momentum among contingent workforce program leads.
To continue the previous conversation on diversity and inclusion (see my other articles on the enterprise approach to supplier diversity and how to shape the future of supplier diversity), I’d like to look at the other side of the coin: What can suppliers do to help enterprise clients improve their diverse supplier inclusion, selection an
My last article was an overview of how large enterprises have historically approached supplier diversity initiatives and why they have underperformed.
This article will focus on ways the enterprise can improve diverse supplier inclusion, selection and support practices. I recommend that teams consider leveraging some of these tips best fitting for their respective organizations.