Diversity & Inclusion | Inclusive Hiring Practices | Broadleaf Results https://broadleafresults.com/blog/category/diversity-inclusion/ Wed, 08 Jan 2025 16:12:45 +0000 en-US hourly 1 Broadleaf Earns WEConnect International Certification, Strengthening Our Commitment as a Global Women-Owned Business https://broadleafresults.com/blog/news/broadleaf-earns-weconnect-international-certification-strengthening-our-commitment-as-a-global-women-owned-business/ https://broadleafresults.com/blog/news/broadleaf-earns-weconnect-international-certification-strengthening-our-commitment-as-a-global-women-owned-business/#respond Mon, 16 Dec 2024 17:40:55 +0000 https://broadleafresults.com/?p=13931 We’re excited to announce that Broadleaf has officially received WEConnect International certification, marking an important step in our journey as a women-owned business and expanding our reach within a global network of companies committed to diversity and inclusion.  WEConnect International is a leading non-profit that connects large corporate, multilateral, and government buyers with women-owned suppliers....

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We’re excited to announce that Broadleaf has officially received WEConnect International certification, marking an important step in our journey as a women-owned business and expanding our reach within a global network of companies committed to diversity and inclusion. 

WEConnect International is a leading non-profit that connects large corporate, multilateral, and government buyers with women-owned suppliers. Its certification is awarded only to businesses that are at least 51% women-owned, managed, and controlled. This achievement places Broadleaf among a global community of certified women-owned businesses, aligning us with organizations dedicated to sourcing from women-led enterprises. 

“This certification is a powerful recognition of Broadleaf’s dedication to diversity, equity, and inclusion,” said Lynne Marie Finn, President and CEO of Broadleaf. “As a women-owned company, we are thrilled to join WEConnect International’s network and look forward to the new opportunities this brings to collaborate with like-minded organizations. Our commitment to fostering a more inclusive and globally connected business landscape has never been stronger.” 

Through WEConnect’s network, which spans over 135 countries and represents member buyers with an annual purchasing power of more than US$4 trillion, Broadleaf is poised to deepen its relationships with clients and partners who share our values. By joining this influential network, on top of our recognition as a women-owned business by the Women’s Business Enterprise National Council (WBENC), a strategic partner to WEConnect, we’re taking a bold step forward in driving gender equity within our industry and supporting economic empowerment. 

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8 Steps for Building an Inclusive Workplace https://broadleafresults.com/blog/thought-leadership/8-steps-for-building-an-inclusive-workplace/ https://broadleafresults.com/blog/thought-leadership/8-steps-for-building-an-inclusive-workplace/#respond Mon, 25 Nov 2024 14:22:58 +0000 https://broadleafresults.com/?p=9462 Promoting an inclusive workplace is now essential for organizations worldwide. As businesses strive to welcome and value talent from diverse backgrounds, they must foster a culture where all employees feel respected and valued.  At Broadleaf, we have seen DEI initiatives become integral within many of our workforce programs. As a certified WBE through WBENC, we...

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Promoting an inclusive workplace is now essential for organizations worldwide. As businesses strive to welcome and value talent from diverse backgrounds, they must foster a culture where all employees feel respected and valued. 

At Broadleaf, we have seen DEI initiatives become integral within many of our workforce programs. As a certified WBE through WBENC, we understand the importance of creating opportunities not only for women and minority-owned businesses but also for women and minority candidates. Here are key ways to cultivate inclusive practices for your workforce. 

Supplier Diversity Programs: How to Get Started 

Form a DEI Council with Purpose and Accountability 

The impact of a DEI council lies in its structure and accountability. A successful DEI council should set clear objectives, establish a roadmap for action, and implement a feedback loop to evaluate progress. This council isn’t just a representative body; it’s an empowered one, with the authority to influence policies, recommend structural changes, and ensure DEI initiatives are truly embedded in company culture—not just stated. 

Poll Your Employees—Make Feedback Cyclical 

Employee feedback should be a two-way, cyclical process that demonstrates a genuine commitment to listening and improving. By regularly polling employees and acting on their input, you show that feedback isn’t just collected; it drives meaningful change. When employees see their voices actively shaping the organization, trust and engagement increase. 

Celebrate Cultural Diversity: Shift from Acknowledgment to Immersion 

Celebrating diversity goes beyond marking dates on a calendar. True cultural appreciation involves fostering empathy and understanding within the organization. Take the extra step by offering professional development in cultural competence, equipping employees to navigate diverse interactions with respect and empathy. 

Mentorship: Build Inclusive Networks, Not Mirrors 

A mentorship program should aim to expand perspectives rather than create comfort zones. By pairing employees from different backgrounds, you foster a culture of learning and growth. Through these mentorship opportunities, diverse perspectives are shared and valued, leading to mutual development. 

Anonymous Feedback: Turn Silence into Insight 

Silence can be a powerful call for change. By taking anonymous feedback seriously and transparently sharing the themes and actions taken to address it, you reinforce that every voice matters—whether spoken or silent. Publicly acknowledging this feedback builds credibility and reassures employees that they are heard, even anonymously. 

Spend Time in Your Community 

Volunteering in the community is a valuable way to foster connections, build empathy, and strengthen team bonds. Consider establishing a Volunteer Time Off (VTO) policy, which allows employees to support causes that matter to them while being paid. Not only does VTO bring teams together, but it also enriches your organization with insights about the surrounding cultures and communities. 

Get Executive Stakeholders and Influencers Involved 

For DEI initiatives to succeed, executive involvement is essential. When leaders actively support and promote diversity programs, these efforts resonate more deeply throughout the company. Make sure your organization’s DEI goals are clearly communicated to executive leadership to gain the sponsorship needed for real impact. 

Engage DEI Critics with Empathy and Data 

Turning DEI skeptics into allies requires empathy and data. Meet critics where they are, listening to their concerns while sharing compelling data that bridges gaps in understanding. This balanced approach fosters respect and openness, ultimately building a stronger foundation for your DEI efforts. 

Summary 

As organizations increasingly recognize the importance of DEI, they see benefits not only in talent attraction and retention but also in fostering a more ethical and inclusive workplace. By implementing these strategies with purpose, your organization can create an environment that uplifts all employees and drives lasting positive change. 

Looking to enhance your talent strategies and foster a more flexible approach to workforce management? Check out our latest E-Book, that explores the gig economy and workforce solutions in depth. 

 

This blog was authored by Joseph O’Shea

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The Importance of Supplier Diversity in MSP Programs https://broadleafresults.com/blog/managed-service-programs/the-importance-of-supplier-diversity-in-msp-programs/ https://broadleafresults.com/blog/managed-service-programs/the-importance-of-supplier-diversity-in-msp-programs/#respond Tue, 29 Oct 2024 15:45:57 +0000 https://broadleafresults.com/?p=9935 In an increasingly interconnected and socially conscious business world, supplier diversity has emerged as a strategic priority for companies looking to build resilient and innovative supply chains. Companies are making notable investments in supplier diversity, with the average spending on certified diverse suppliers reaching 3.6% of total procurement spend, and best-in-class firms spending up to...

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In an increasingly interconnected and socially conscious business world, supplier diversity has emerged as a strategic priority for companies looking to build resilient and innovative supply chains. Companies are making notable investments in supplier diversity, with the average spending on certified diverse suppliers reaching 3.6% of total procurement spend, and best-in-class firms spending up to 9.1% on diverse suppliers. A well-executed supplier diversity program brings transformative benefits—unlocking fresh perspectives, fostering community connections, and driving inclusive economic growth. When integrated into Managed Service Provider (MSP) programs, supplier diversity efforts can reach new heights, helping organizations expand their access to underrepresented talent pools and achieve meaningful impact. Here Broadleaf explores how supplier diversity within MSP programs drives business value, fosters economic empowerment, and enhances the agility and innovation necessary to stay competitive. 

Related Blog – Supplier Diversity Programs: How to Get Started 

Expanding Access to Underrepresented Talent Pools through Supplier Diversity in MSP Programs 

Supplier diversity programs are essential in today’s business landscape. At its core, supplier diversity is about building a supply chain that includes businesses owned by individuals from historically underrepresented groups, such as minority-, women-, LGBTQ+-, veteran-, and disabled-owned businesses. A supplier is classified as diverse when at least 51% of the company is owned and operated by individuals from these groups. But it goes far beyond meeting compliance requirements; supplier diversity is a transformative business approach that unlocks significant new value, from fostering innovation to building stronger community connections and enhancing business resilience. Many companies have reported that partnerships with diverse suppliers yield higher innovation returns—up to 133% more procurement value—due to the unique perspectives these suppliers bring to problem-solving and product development​. 

Integrating supplier diversity into a Managed Service Provider (MSP) program can amplify these benefits, ensuring agility and accountability while diversifying an organization’s supply chain. By partnering with MSPs that prioritize supplier diversity, companies can expand their access to previously underrepresented talent pools. For instance, veteran-owned staffing firms have a deep understanding of the unique challenges veterans face when transitioning to civilian careers, enabling them to recruit veterans more effectively. By working with such suppliers, MSPs allow companies to tap into underutilized talent pools and source candidates inclusively. 

Driving Economic Empowerment for Underserved Communities 

Supplier diversity isn’t just about fulfilling corporate responsibility; it’s a powerful investment in economic empowerment and long-term prosperity for communities that have been historically excluded from mainstream economic opportunities. Rather than viewing supplier diversity as a compliance measure, consider it a strategic approach to drive inclusive economic development while strengthening your brand’s social impact. Partnering with diverse suppliers enables organizations to contribute to a more equitable economy, helping to level the playing field and open up new avenues for growth. 

Enhancing Business Outcomes through Agility and Innovation 

Working with diverse suppliers does more than meet diversity targets—it fosters agility and drives innovation. By bringing in fresh perspectives, diverse suppliers can offer unique approaches to solve challenges, adapt quickly to changing market demands, and bring forward creative solutions. In a fast-paced business environment, this diversity of thought is a crucial asset. MSP programs that integrate diverse suppliers into their operations can gain a competitive edge by harnessing these new ways of thinking, ensuring they stay relevant and competitive in the market. 

The Role of MSPs in Enhancing Supplier Diversity 

A successful MSP partner doesn’t just meet supplier diversity goals; it becomes a catalyst for change. Experienced MSPs help clients embed supplier diversity into their broader Diversity, Equity, and Inclusion (DEI) strategies for long-term impact. A strong MSP partner will also have the expertise to source diverse suppliers who deliver high-quality services at competitive prices, adding tangible value to the business. Furthermore, MSPs can offer robust reporting that tracks diversity spending, supplier performance, and the program’s overall business impact. This transparency is essential for ensuring that supplier diversity programs go beyond theory, providing measurable outcomes that demonstrate the program’s effectiveness. 

Incorporating supplier diversity into your MSP program is more than a box to check; it’s a strategic choice that benefits businesses, communities, and the economy. By building connections with underrepresented suppliers, organizations can unlock new opportunities, foster innovation, and contribute to a more inclusive and equitable marketplace. 

 

This blog was written by Broadleaf’s Vice President Client Delivery Joseph O’Shea. 

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Supplier Diversity Programs: How to Get Started https://broadleafresults.com/blog/thought-leadership/supplier-diversity-programs-get-started/ https://broadleafresults.com/blog/thought-leadership/supplier-diversity-programs-get-started/#respond Mon, 23 Sep 2024 14:45:16 +0000 https://broadleafresults.com/?p=3191 Strengthening your supplier diversity efforts requires more than just outreach—it’s about making a proactive investment in building capacity within diverse supplier communities. By fostering innovation, mentorship, and networking opportunities, you’re supporting growth for both your organization and these suppliers. Here’s how to take meaningful steps toward creating a sustainable, mutually beneficial ecosystem.  Be Proactive and...

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Strengthening your supplier diversity efforts requires more than just outreach—it’s about making a proactive investment in building capacity within diverse supplier communities. By fostering innovation, mentorship, and networking opportunities, you’re supporting growth for both your organization and these suppliers. Here’s how to take meaningful steps toward creating a sustainable, mutually beneficial ecosystem. 

  1. Be Proactive and Invest in Capacity Building

Most of us understand the importance of diversity in promoting a balanced society, and forward-thinking businesses apply this principle in the workplace. However, connecting buyers with minority-owned suppliers continues to be a challenge. To overcome this, proactive strategies are essential—ones that go beyond initial outreach. 

Supplier diversity should be seen as a long-term investment. By creating mentorship programs, hosting networking events, and encouraging innovation, you’re cultivating a diverse supply chain that drives mutual growth. Here are some actionable steps you can take: 

  • Mentorship Programs: Establish mentorship initiatives where your team can provide guidance to minority-owned suppliers, helping them scale their businesses and enhance their capabilities. This could include financial training, procurement processes, or operational advice. 
  • Supplier Development: Offer opportunities for diverse suppliers to innovate through research grants, technology transfers, or product development partnerships. Supporting innovation strengthens their position in the market and can introduce new ideas to your organization. 
  • Supplier Networking Events: Organize or sponsor networking events that bring together diverse suppliers, corporate procurement teams, and other key stakeholders. Facilitating these connections can lead to valuable partnerships and foster an ecosystem where everyone benefits from shared knowledge. 

Here are some resources to help with outreach, though ongoing support and engagement are key to driving long-term success: 

  • Minority-Owned Businesses: Connect with the National Minority Supplier Development Council (NMSDC) or their local affiliates to find and collaborate with certified minority-owned suppliers. 
  • LGBTQ-Owned Businesses: Explore LGBTQ Supplier Diversity Programs through resources such as the Human Rights Campaign. Providing ongoing mentorship or sponsorship at community events can also strengthen ties. 
  • Veteran-Owned Businesses: Partner with the Coalition for Veteran Owned Business to engage and support veteran-owned suppliers. Offering business development training and advice can be particularly beneficial. 
  • Women-Owned Businesses: Connect with WBENC-certified suppliers or work with organizations like Sigma Supply of North America. Consider creating accelerator programs specifically for women-owned businesses to boost their growth potential. 

By taking these proactive steps, you’re not only diversifying your supplier base but also contributing to the economic empowerment of these communities, which enhances the innovation and resilience of your own supply chain. 

  1. Know Your History and Take Proactive Steps for Long-Term Supplier Diversity Success

Diversifying your procurement network is not just a box to check—it’s a strategic initiative that drives innovation, resilience, and competitive advantage. To truly support a supplier diversity program, business leaders must understand the historical and economic context behind these efforts. A deeper grasp of the history behind supplier diversity leads to more meaningful and lasting impacts. 

Here are key strategies to build an impactful supplier diversity program: 

  • Host Supplier Diversity Fairs: Organize events where underrepresented suppliers can showcase their products and services, meet procurement professionals, and network with decision-makers. These fairs foster direct engagement between diverse suppliers and potential buyers, increasing visibility and building relationships. 
  • Sponsor Training and Development Programs: Provide training programs that help diverse suppliers improve their business acumen, operational efficiency, and competitiveness. By sponsoring such initiatives, you ensure that suppliers have the tools they need to grow and thrive in the long term. 
  • Leverage Technology to Find Underrepresented Suppliers: Use digital platforms and supplier databases to identify and connect with minority-, LGBTQ-, veteran-, and women-owned businesses. Technology can streamline the process of sourcing diverse suppliers, enabling you to broaden your network and uncover hidden talent in underrepresented communities. 

Building Pipelines: Mentorship and Upskilling 

A crucial part of a successful supplier diversity strategy is ensuring that diverse suppliers are not just one-time partners, but long-term contributors to your supply chain. To ensure sustainability and competitiveness, businesses should: 

  • Mentor Diverse Suppliers: Establish mentorship programs where experienced professionals from your company guide diverse suppliers, helping them navigate procurement processes and scale operations. 
  • Upskill and Develop Suppliers: Partner with diverse suppliers to offer targeted training in areas such as finance, marketing, logistics, or technology. Upskilling ensures that diverse suppliers can compete at higher levels and continue to grow within your supply chain. 

Why Supplier Diversity is a Strategic Imperative 

Understanding the historical context of supplier diversity is essential to appreciating its strategic value. Supplier diversity initiatives arose from efforts to address systemic inequities and create opportunities for underrepresented groups in business. Today, these programs are not just about social responsibility; they’re a business imperative that supports innovation, resilience, and market differentiation. 

Companies that actively engage in supplier diversity are better positioned to: 

  • Adapt to changing market demands with innovative solutions from diverse perspectives. 
  • Build more resilient supply chains by reducing dependence on a limited pool of suppliers. 
  • Strengthen relationships with diverse communities, which can lead to greater brand loyalty and market share. 

To dive deeper into the historical significance of supplier diversity and how it can enhance your business strategy, check out educational resources from the National Minority Supplier Development Council (NMSDC). Their videos and materials provide valuable insights into the evolution of supplier diversity and its role in building a competitive, inclusive marketplace. 

By understanding the history and taking proactive steps to build pipelines, business leaders can ensure that their supplier diversity efforts aren’t just reactive measures, but part of a sustainable and strategic growth plan. 

  1. Build for the Future: Metrics, Accountability, and Long-Term Commitment to Supplier Diversity

Diverse suppliers don’t need to comprise 100 percent of your supplier network, but they should be an integral part of your overall supplier strategy. To build for the future, your supplier diversity program must align with your sustainability, Environmental, Social, and Governance (ESG) commitments, and include clear goals, transparent metrics, and leadership accountability. 

Set Concrete Goals and Benchmarks 

Establish benchmarks to measure and guide your supplier diversity efforts. Analyze your current diversity spend and set realistic yet ambitious goals for the future. For example: 

  • Diversity Spend Today: What percentage of your current spend is with diverse suppliers? Knowing your baseline will allow you to track progress over time. 
  • Short- and Long-Term Goals: What is your supplier diversity goal for 2024? How about three to five years from now? Ensure these goals are ambitious but achievable, with incremental milestones to keep your company accountable. 

Track Key Metrics for Accountability 

To build a robust and sustainable supplier diversity program, tracking specific metrics is crucial. These metrics not only provide insights into your progress but also hold your leadership accountable for meeting diversity objectives. Key metrics to track include: 

  • Percentage of Spend with Diverse Suppliers: Regularly track and report the percentage of your total procurement spend allocated to minority-, LGBTQ-, veteran-, and women-owned businesses. Set incremental targets to gradually increase this percentage. 
  • Supplier Retention Rates: It’s not enough to onboard diverse suppliers—you need to ensure long-term partnerships. Track retention rates to measure how many diverse suppliers continue to work with your organization year after year. Retention shows that you’re providing value and fostering sustainable relationships. 
  • Economic Impact: Measure the broader economic impact of your supplier diversity efforts. This could include tracking how many jobs have been created within diverse supplier businesses, the revenue growth they’ve experienced due to your partnerships, or the economic benefit to the communities they represent. 

Embed Supplier Diversity into ESG and Corporate Responsibility Reporting 

As companies become more focused on sustainability and ESG goals, supplier diversity should be an integral part of these initiatives. Make supplier diversity part of your corporate responsibility reporting to ensure transparency and accountability. Publicly reporting your progress demonstrates your commitment to inclusion and social impact, while also allowing external stakeholders to monitor your achievements. 

  • Annual Reporting: Include supplier diversity metrics in your annual sustainability and ESG reports. Highlight your progress toward diversity goals, any challenges you’ve faced, and the impact your efforts have had on underrepresented communities. 
  • Leadership Accountability: Hold senior leaders accountable for achieving supplier diversity goals. Tying diversity progress to executive performance evaluations and compensation can further reinforce the importance of these initiatives. 

Partner with Local Diversity Groups 

One of the best ways to meet your supplier diversity goals is to collaborate with local diversity groups and advocacy organizations. These groups can help you source diverse suppliers in your region and provide access to a network of businesses that may otherwise be difficult to find. Additionally, consider forming partnerships with organizations that focus on mentorship and development for diverse suppliers. 

According to a supplier diversity report by The Hackett Group, successful companies are those that “develop supplier partnerships, mentor local suppliers, collaborate with suppliers on product innovation, and share their experiences with other companies.” By actively engaging in these practices, you’ll ensure that your supplier diversity efforts are not only effective but also deeply embedded in the communities you serve. 

Building for the future requires more than good intentions; it demands concrete action, measurable progress, and accountability. By establishing clear goals, tracking key metrics, embedding supplier diversity into your ESG commitments, and fostering meaningful partnerships, you can create a sustainable supplier diversity program that drives long-term value for your organization and the communities you support. 

  1. Remain Patient and Committed: Leadership and Collaboration Drive Supplier Diversity Success

Cultural change doesn’t happen overnight, and supplier diversity is no exception. Leadership accountability and cross-functional collaboration are key to making meaningful progress. Supplier diversity must be ingrained in corporate culture, with executives leading the charge and all departments working together to achieve diversity goals. 

Leadership Accountability 

Executive leadership plays a pivotal role in embedding supplier diversity into the fabric of your business. Leaders should set the tone by integrating supplier diversity into long-term business objectives and ensuring these efforts align with the company’s overall mission. To foster a culture of inclusion, leaders can: 

  • Tie Diversity Efforts to Business Goals: Supplier diversity should not be treated as a separate initiative but as part of your company’s broader strategy. Link supplier diversity to revenue growth, innovation, and risk management to ensure it becomes a core part of business planning. 
  • Lead by Example: Executives must champion supplier diversity efforts, setting clear expectations for the entire organization. Leadership accountability ensures that diversity goals are priorities and progress is regularly evaluated. 

Cross-Functional Collaboration 

Supplier diversity programs thrive when all departments work in harmony. From procurement to finance and marketing, collaboration ensures that diversity goals are met across the business. Strategies to promote collaboration include: 

  • Diversity Council Meetings: Regularly scheduled meetings with a cross-functional diversity council help maintain focus on supplier diversity goals. These meetings provide a forum for tracking progress, sharing insights, and aligning on next steps. 
  • Frequent Progress Updates: Transparent communication and frequent progress reports keep everyone in the loop, fostering accountability at all levels. Regular updates ensure that momentum is maintained and that any challenges can be quickly addressed. 

The Role of Technology in Advancing Supplier Diversity 

Supplier diversity can also benefit significantly from technology-driven innovations. Tools like AI and advanced procurement platforms streamline the process of discovering, assessing, and managing diverse suppliers. Here’s how technology can elevate your supplier diversity efforts: 

  • AI-Powered Supplier Discovery: Use AI-driven platforms to identify underrepresented suppliers and assess their qualifications efficiently. These tools can analyze supplier databases, offering new insights and enabling you to uncover diverse businesses you might otherwise miss. 
  • Relationship Management Tools: Leverage technology to manage supplier relationships with a focus on mutual growth. Platforms that track supplier performance, growth potential, and alignment with your diversity goals can help maintain and strengthen these partnerships. 
  • Data-Driven Insights: Technology provides valuable data for tracking progress, assessing the effectiveness of your supplier diversity efforts, and identifying areas for improvement. With clear insights, leadership can make informed decisions and refine strategies. 

Stay Focused for Long-Term Change 

Patience combined with leadership and collaboration drives real change. A supplier diversity program that is consistently championed by executives and supported across departments is more likely to succeed. While the process may take time, the commitment to fostering an inclusive culture will yield long-term benefits for both the company and its partners. 

With decades of experience in helping organizations achieve supplier diversity goals, Broadleaf can assist you in building a sustainable, inclusive supplier base. Ready to get started? Contact us today! 

This blog was authored by Joseph O’Shea, Vice President of Client Delivery. 

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Working Women of 2023: A New Landscape https://broadleafresults.com/blog/trends/working-women-of-2023-a-new-landscape/ https://broadleafresults.com/blog/trends/working-women-of-2023-a-new-landscape/#respond Mon, 06 Mar 2023 15:00:22 +0000 https://broadleafresults.com/?p=11232 The pandemic turned the world upside down with layoffs and resignations concentrated in female-dominated fields and massive school and daycare closures primarily affecting working mothers. Adding to this, a recent McKinsey & Company Women in the Workplace 2022 study found that men significantly outnumber women at the manager level, directly impacting the availability of women...

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The pandemic turned the world upside down with layoffs and resignations concentrated in female-dominated fields and massive school and daycare closures primarily affecting working mothers. Adding to this, a recent McKinsey & Company Women in the Workplace 2022 study found that men significantly outnumber women at the manager level, directly impacting the availability of women to be promoted to senior leadership positions. Just one in four C-suite leaders is a woman.

Here are some of the obstacles women face in 2023 and what organizations can do to assist them in advancing in the workplace:

Legal barriers: Legal barriers that affect a woman’s ability to work include gender-based job restrictions and a lack of workplace protections and leave benefits. These barriers inhibit a women’s job prospects, earning potential, career growth, and ability to balance work and family. In the U.S., there is no legally mandated paid maternity, paternity, or parental leave.

Research has found that offering parental leave benefits helps employees and improves an organization’s recruitment, retention, and employee engagement. However, companies must ensure that leave is seen as usable and that taking it does not impact a worker’s career progression.

Insufficient child care in the U.S. has resulted from a lack of caregiver support, early education, and paid leave. The high cost of care in the U.S. can be a significant financial burden to working mothers who can’t afford to send their infant or toddler to child care. The U.S. is still feeling the effects of daycare service staff shortages which are more than 10 percent below pre-pandemic levels and have left about 460,000 parents (especially women) out of the labor force still struggling to find support. 34 percent of working mothers cite child-care concerns as the top reason for leaving the workforce.

Companies that adapt their benefits and policies to provide meaningful employee support often have a happier, more productive workforce which gives them an advantage when it comes to retaining employees. Employer-sponsored child care provides workers with the help, resources, and financial assistance needed to locate and pay for child care.

Hybrid and remote workplace challenges: The inconsistent and unpredictable working conditions of the last two+ years have taken a toll on women’s mental health and have caused higher levels of burnout and stress. Women are experiencing the effects of hybrid work arrangements, with nearly 60 percent feeling excluded from necessary meetings, discussions, and informal interactions by not being in the office every day. A Catalyst survey found that 45 percent of women business leaders find it difficult to speak up in virtual meetings, and 20 percent feel ignored or overlooked during video calls.

Organizational leaders have an essential role in creating and maintaining a balance between employees working remotely and those in the office. By recognizing resource and visibility inequalities, managers can offset them to level the playing field between in-office and remote workers and ensure everyone feels included and has their voice heard.

Inflation effects: In June of 2022, inflation hit a 40-year high. Given it has not been a significant economic concern for 30 years, research on the impact of inflation on women is limited and out of date. However, historically, inflation has been most harmful to people living on a fixed income and those in debt. From this perspective, women today are at risk of falling further behind because they hold around two-thirds of student loan debt, are more likely than men to carry credit card balances, and delay seeking medical care due to debt. This leaves women with less ability to keep up with rising inflation and ultimately feeling less economically secure.

About 63 percent of organizations plan to adjust wages in response to inflation. Other ways companies are helping their workers combat rising costs include handing out more bonuses, holding off on increasing employees’ share of healthcare premiums, and permitting them to work remotely to save on gas and other transportation expenses.

Summary

The gender challenges women in the workforce face have been brought into the spotlight by the pandemic. The good news is that the women’s labor force participation rate improved to 58.3 percent in January, just one percentage point below the pre-pandemic rate in February 2020. The Biden-Harris Administration has an ambitious agenda to promote gender uniformity. This includes a first-ever National Strategy on Gender Equity and Equality and steps to advance equal rights and expand opportunities and support for women in the workforce. These challenges are also being combated at the state and local level by enacting pay transparency laws that benefit all workers—especially women, with the largest wage gap making just 82 cents for every dollar men make. However, there’s still work to do to get back the women who haven’t yet returned to the workforce and eliminate the legal barriers affecting women’s ability to work and advance into leadership positions.

Organizations that take these challenges seriously and work to level the playing field for women will undoubtedly benefit from their efforts in the current talent market and, hopefully, shift the tide towards a more effective and satisfied workforce nationwide.

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WBENC Conference and Business Fair: A Recap https://broadleafresults.com/blog/events/wbnec-conference-and-business-fair-a-recap/ Tue, 10 Jul 2018 20:25:18 +0000 https://broadleafresults.com/manufacturing-and-technology-conference-expo-key-takeaways-copy/ Broadleaf’s reputation as a diverse workforce solutions company encouraged many organizations to stop by our booth (and vintage-styled candy bar) to discuss opportunities and potential partnerships.

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Detroit proved to be a lively host city for the 2018 WBENC National Conference and Business Fair, a forum for bringing together women-owned businesses. Broadleaf’s reputation as a diverse workforce solutions company encouraged many organizations to stop by our booth (and vintage-styled candy bar) to discuss opportunities and potential partnerships.

Supplier diversity is beneficial to all stakeholders—not only does it add economic value, but encourages the growth of diverse businesses. Approximately sixteen categories are used to identify diverse businesses. Common examples are the Small Business Enterprise, Minority-Owned Business Enterprise, and Women’s Business Enterprise. For an organization to record and report diverse spend, it is important to ensure suppliers are certified through third-parties which then authenticate the business is owned, managed, and controlled by a qualifying group.

There are many reasons why diverse suppliers are advantageous to have as partners, including:

  • Innovation through the entrance of new products, services, and solutions
  • Multiple channels from which to procure goods and services
  • Business expansion with the emergence of new consumer needs based upon cultural shifts
  • Display of commitment to doing business in diverse markets
  • Illustration of the company’s commitment to the economic growth of communities

In addition to driving job creation, supplier diversity provides products and services to emerging markets and opportunities are created for diverse suppliers to then meet the needs of global populations.

Future women business owners pitched their ideas at the Student Entrepreneur Program Pitch Competition and attendees were treated to a lively speech from Francois Philippe Champagne, Canada’s Minister of International Trade. He spoke not only of the long friendship between our two countries, but the growth of female entrepreneurs in Canada and their strength within the Canadian economy. During the finale luncheon, the former editor of Fast Company, Robert Safian, delivered an insightful industry keynote on the future of business innovation.

Broadleaf already looks forward to participating in the 2019 WBENC National Conference and Business Fair.

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