5 Things / spread the spend
I'm finding a lot of reasons for hope these days. I hope you are, too.
Something that's been on my mind lately has been equity. And by equity, I mean changing the systems to give those who have fewer privileges a leg up. Changing the systems. One way to do this is to change where money is spent. New York City just became more equitable.
New York recently became the largest city in the United States to recognize LGBTQ business enterprises as diverse suppliers in its supplier diversity program. Supplier diversity programs are typically housed in procurement and are an important commitment to spending money with businesses owned by under-represented populations. Up until now, New York didn't count LGBTQ-owned businesses as "diverse."
This matters because this will give LGBTQ-owned businesses greater access to NYC contracts.
With what types of businesses does your company spend its procurement budget? Diversifying your vendors is a powerful, and not-that-hard, way to create greater equity. It's really hard to change systems, but it's worth it. If not now, then when?
Here are some other good vibes I found this week:
The Coca-Cola company set diversity requirements for the law firms it works with. They now require at least 30% of associate and partner time on new matters to be billed by diverse lawyers. Of that amount, at least half of the billable hours should go to Black lawyers. This matters because the company is showing that it values diversity, equity, and inclusion not only internally; but also within their supply chain. Coca-Cola's spending power can mandate it.
The White House committed to having an American Sign Language interpreter at every press briefing. This has never been done before. This matters because it makes the briefings more accessible and more inclusive.
Target gave its hourly workers $500 and up bonuses (totaling $200 million) and extended their already great Covid benefits. This matters because hourly workers have long been under-respected, and Target is telling them that they are valued.
Aetna Healthcare decided to categorize breast augmentation surgery for transgender women as medically-necessary. It was previously categorized as "cosmetic," making it inaccessible to many transgender women. This matters because it's a key change in how insurers view transgender women, and this policy change will reduce barriers for them.
Image by: Atlanta Tribune