In "Gender Diversity: Would You Leave $12 Trillion on the Table?", Anne Tesch, Country Director of WEConnect International in Australasia, tells Procurious why gender diversity should be high on every company’s agenda. At the top of her list is McKinsey’s Global Institute's finding that $12 trillion could be added to the Global GDP by 2025 by advancing women’s equality. Economies most impacted (with GDP gains) would be India (16%), Latin America (14%), China (12%), and Sub-Saharan African (12%). Moreover, along with this social impact and others, there are numerous business benefits:
- Mirroring your diverse customer and employee base – it’s important to reflect the communities around the globe where you operate, not only with staffing, but also with your supplier base
- Supporting your corporate clients – more corporates are growing their tier 2 inclusive sourcing programs and requesting reporting from their prime suppliers
- Supporting business growth in new markets
- Accessing innovation and securing competitive advantage from new SMEs offering more creative options; Reducing costs through competitive bidding
- Accessing local networks and knowledge
- Enhancing the company brand and community engagement by promoting success stories about working with women-owned businesses.
The case for supplier diversity and inclusion made clear, Anne also provides tips to supply managers looking to increase their engagement with women-owned businesses build, namely:
- Know your numbers
- Spread the word
- Network, network, network!
Read the article for more details.
Anne will be speaking at Quest’s Women in Procurement 2017 event in Melbourne on 26-27 April. Visit Quest Events to download a brochure and find out more.