Workforce and supplier diversity programs can play a key role in helping government and private organizations to attract and retain top talent. Many institutions are hiring Chief Diversity Officers and developing workforce, minority and women business utilization strategies because of the changing demographics and economic trends in America.
Also, a diverse workforce helps employees and consumers to believe that organizations value their contribution to the bottom line. It is well documented that the retention of employees of color is increased when diversity is reflected at all levels in the organization from entry level to senior executive positions. Equally important, the creation of workforce diversity goals must also be connected to the mission of the organization, business model, management annual performance reviews, and other key business metrics. There is a saying that “What gets measured, gets done.”
The suppliers, consultants, contractors and businesses utilized by public and private sector organizations tell a narrative and paint a picture of their value system and identity. Where advertisements are placed; the companies chosen for outside human resource functions; the businesses selected to provide marketing and media support; shape the psyche of consumers, staff and the public. Simply put, supplier diversity programs can be an effective way of increasing positive public perception on an organizations market presence in the communities they serve.