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Measuring diversity in your supply chain is essential to your corporate ESG goals
Diversity, equity and inclusion are factors that matter, not only in your travel program, but across your travel supply chain. A June 2020 Harvard Business Review report says that diverse supply chains "broaden the pool of potential suppliers and promote competition in the supply base, which can improve product quality and drive down costs." While those championing diversity initiatives in the managed travel space are aware of its benefits, others have criticized the authenticity of such initiatives, calling them a bare bones effort.

In fact, according to a 2019 Accenture survey of over 2,700 consumers from the airline, cruise and lodging segments across the US, UK and Canada, many travel companies still do not prioritize inclusion and diversity, in general. The report further states that:
•56 percent of travelers say it’s important that the company they book with is committed to I&D practices
•3 out of 5 travelers say it’s important that their preferred travel provider demonstrate a commitment to I&D values similar to their own
•50 percent of travelers are willing to pay a premium of 5 percent to 20 percent to book their travels with a company that values I&D

”True sustainability ensures the balance between environmental, social, and economic needs, including diversity,” says Casey Oakes, director of global supplier diversity, global operations at Marriott International. So then, if diversity has been identified as such an important overall business factor, what’s all the stalling about?

The Nuts & Bolts
For some organizations, the issue lies with the top tier. Without buy in from the C-Suite, diversity becomes a faint chant rather than a loud roar. “One of the first learnings that I’ve gained in building a more diverse culture is that DEI works best at a company when it starts from the top down – meaning that the CEO and executive board make a commitment to creating pathways for diverse recruiting and inclusive experiences,” says Shaka Senghor, head of diversity, equality and inclusion at TripActions. “They need to really be tuned into what’s happening through the company with staff, employees, external partners, and vendors.”

Categories: Special ReportDuty of Care and Risk Management

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