Inspiring Inclusion in the Way We Do Business

March 05, 2024 02:00 AM AEDT | By 3BL

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Inspiring Inclusion in the Way We Do Business — Image source: Kalkine Media

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By Tomaneci Waller Day

Corporations need to invest in inclusion. Inclusion leads to innovation, opportunity, and impact.

This U.S. Women’s History Month and International Women’s Day, we recognize the impact women-owned businesses make on the global economy. According to the World Bank, one in three businesses globally have women among their principal owners, and in the U.S., women-owned businesses have grown 114% in the last two decades.

Here at T. Rowe Price, our supply chain can provide significant access to women-owned businesses—from the everyday actions of our associates to our long-term partnerships as a global asset management firm. For us to provide the best outcomes for our clients, we need the best products, services, and resources, and we are proud that women-owned businesses now make up nearly 25% of our supplier expenditures.

Our longstanding relationship and commitment to embracing diversity and collaboration means we intentionally seek to create opportunity and inspire inclusion in the way we do business. In fact, promoting an inclusive mindset that encourages a diverse set of suppliers is a business imperative for our firm.

We integrate supplier diversity in our business and sourcing practices to generate efficiency, develop sustainable partnerships, and increase opportunities for the diverse and small business community. We want to work with companies in communities where we operate. We want to be a catalyst for industry growth, community expansion, and job creation.

Corporations like ours need to invest in inclusion. We need to think strategically, think diverse, think women, think intersectionally. There’s so much untapped value in doing business this way. Inclusion leads to innovation, opportunity, and impact—it is the performance multiplier.

We invite businesses, especially diverse and small businesses, to learn more about supplier diversity and sustainable procurement and to register your business with us at troweprice.supplierone.co.

202403- 3400770

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