The Royal Bank of Scotland developed and launched the supplier diversity and inclusion code of conduct on May 20th, in London. The code of conduct has been endorsed by WEConnect International (Connecting Women’s Enterprises with Market Opportunity) a non-profit organisation which states that: ‘We envision a world where women business owners have equal opportunity to sell their solutions and create prosperity.’
RBS states that it has introdued the code of conduct in order to provide a more level playing field to all suppliers. Chris Sullivan CEO, RBS UK Corporate Banking said:
“At RBS we believe that our supply chain should reflect the diversity of the communities in which we operate. This makes business sense, as well as having clear social advantages. We recognise that we still have much to do and are committed to providing a level playing field for SMEs, women owned and other diverse and under-represented suppliers in our communities, strengthening our marketplaces, promoting competitive advantage and enabling business sustainability in the communities we serve and support.”
The code of conduct has been adopted by other well-known brands including: Coco Cola, IBM and Ernst & Young. A complementary document has been produced to help companies understand what is involved and how it should be implemented, in order to demonstrate their commitment to the code. WEConnect is also providing support to companies considering implementing the code.
The Hackett Group claims that where companies have implemented greater diversity in this are, they are seeing a ‘133% greater return on procurement investment than typical businesses.’
If you would like to know more, visit: http://weconnectinternational.org/en/supplier-inclusion-code-of-conduct?goback=.gde_1190657_member_245673349
Anne Casey is a regular contributor to the3rdimagazine