How Business Roundtable Companies Have Responded to Four Critical Issues Advancing Racial Equity in the Workplace
Today, we analyze how the BRT signatories in our coverage universe (151 of the 206 total companies whose executives have signed the statement) measure up on transparency around four of these key actions: conducting a pay equity analysis, disclosing workforce demographic data, funding local education programs, and instituting a diverse supplier policy.
Instituting a Supplier Diversity Policy
71% of Americans, and 89% of Black Americans, believe that it is somewhat or very important for companies to increase business with Black-owned suppliers and organizations. The vast majority of BRT signatories (81%) have publicly shared their supplier diversity policies to ensure that a diverse group of vendors are part of their sourcing or procurement process.
Examples like Intel’s demonstrate exemplary commitment to diverse vendors, which contains both leading supplier diversity goals as well as reporting requirements to help their non-diverse suppliers to become more diverse. Additionally, Intel partners with other companies, governments, and NGOs to expand opportunities for diverse suppliers. Their commitment to inclusive sourcing is evident by Intel reaching their goal to spend $1B annually with diverse suppliers by the end of 2020 one year early, in 2019.