engage magazine issue 004 \'07 - Page 30

30 USA SUPPLIER DIVERSITY USA Top - Ten No. 6 Bank of America The No.1 company on the Top 50 includes GLBT suppliers in supplierdiversity tracking, requires second-tier supplier diversity and ties procurement compensation to successful supplierdiversity results. No. 10 DaimlerChrysler The auto company spends 7.5 percent of its procurement budget with Tier I minority- and women-owned suppliers, audits its supplier-diversity numbers, requires second-tier supplier diversity and provides formal external training or mentoring programs for suppliers. The companies on this list have made major commitments to developing significant supplier-diversity programmes. By doing so, they have strengthened their own ties to communities of traditionally under represented groups and have created stronger vendors. USA continues to lead the way on Supplier Diversity No. 7: McDonald’s The fast-food giant spends 54 percent of its procurement budget with Tier I minorityand women-owned suppliers and provides financial assistance for diverse suppliers. Some key points about the US DiversityInc T op 10 Companies for Supplier Diversity: No. 8 Eastman Kodak The long-time diversity leader spends 22 percent of its procurement budget with Tier I minority- and women-owned suppliers, includes GLBT suppliers in supplier-diversity tracking and ties procurement compensation to successful supplier-diversity goals. Criteria for listing: In assessing the Top 10 Companies for Supplier Diversity, the most critical factors are the percent of the total procurement budget going to minority- and womenowned businesses, tying executive compensation to supplier-diversity results, having mandatory Tier II supplier diversity, community commitment (loans, education, mentoring of suppliers) and requiring third-party certification. Source: www.diversityinc.com No. 9 KeyBank The Cleveland-based bank company spends 11.75 percent of its procurement budget with Tier I minority- and womenowned suppliers and integrates supplierdiversity initiatives into its overall corporate-business-plan goals. • The Top 10 for Supplier Diversity spend 22.7 percent of their procurement budgets with Tier I minority- and women-owned suppliers (main contractors), compared with 9.7 percent for the Top 50 and 2 percent nationally • They spend 5.5 percent of their procurement budgets with Tier II minority- and women-owned suppliers (subcontractors), compared with 2.9 percent for the Top 50 • All of the Top 10 for Supplier Diversity companies tie procurement compensation to successful supplierdiversity results, compared with 83 percent of the Top 50 • Eighty percent of the Top 10 for Supplier Diversity provide financial assistance for their diverse suppliers, compared with 57 percent for the Top 50 engage | uk ISSUE FOUR 2007