Progress 2020 is a formal partnership between supplier.io, Diversity Reporting Solutions, and Supplierty News to incorporate achievable goals and metrics to quantify the corporate benefits of supplier diversity and small business programs. For many years, organizations have promoted the need to support small and diverse businesses yet have never established an industry-wide project plan to expand upon a market worth well over $100 billion in annual spend.
Today, our team at Progress 2020 is releasing the status on one of our Five Commitments to help improve the supplier diversity and small business industry.
As it pertains to our goal of tracking Half a Million Jobs Created with Diverse Suppliers Annually, we are confirming that our products and services have helped clients track 47,126 jobs created as a result of corporate purchases with small and diverse suppliers. We are proud of our current pace, of completing just under 10% in the first year, and look forward to doubling and even tripling this number next year.
For our commitment, we aim to utilize the supplier.io Economic Impact Report to track half a million jobs created with diverse suppliers annually
What does this means?: Total jobs that can be directly attributed to purchases made with small and/or diverse suppliers will be tracked in this goal.
How does this benefit the industry?: We believe that the definition of a successful supplier diversity and small business program includes more than purchases made with suppliers. Taking the strategy one step further to measure the impact of spend on jobs created and overall GDP gives insight to the industry’s effectiveness on a local, regional, and national scale.
Over the next 2 years, we are committed to engaging organizations and individuals within the supplier diversity and small business community to accomplish the goals set forth. Our goals are purposefully specific and measurable to create a sustainable foundation within the industry for future growth. We believe all goals included in our commitments can be completed by December 31st, 2020.