As a company that strives to be a place where people can succeed because of their differences, and one with sourcing needs on a wide range of goods and services, The Hartford’s Supplier Diversity program is focused on fostering an open and competitive sourcing environment for all suppliers, regardless of classification.
To further develop strategic and collaborative partnerships with diverse suppliers, The Hartford recently re-launched a portal—available on our website—that allows suppliers to register and certify themselves as diverse suppliers and classify the types of services they provide. This allows The Hartford’s procurement team to easily identify diverse suppliers. The standard classification types used in most industries are the United Nations Standard Products and Services Code (UNSPSC) and the North American Industry Classification System (NAICS).
For several years, The Hartford has been an active advocate for minority business enterprises (MBEs) and a corporate sponsor of the Greater New England Minority Supplier Diversity Council (GNEMSDC). More recently, the company became a corporate partner with The National Gay and Lesbian Chamber of Commerce (NGLCC) and the Women Presidents’ Educational Organization (WPEO). The Hartford’s goal is to be an active advocate within these associations and achieve the following:
- Identification of potential diverse suppliers and partnerships
- Better data to enrich reporting
- Increased branding opportunities and exposure at minority council events
- Broader sales opportunities for The Hartford’s insurance products
While becoming a corporate sponsor is an important first step, to grow its Supplier Diversity program and enhance partnerships with diverse suppliers, the company has several initiatives underway, including these:
- Partnering with the HR Diversity & Inclusion team to communicate to buyers in the company’s business units the benefits of partnering with diverse suppliers
- Establishing Request For Proposal (RFP) protocols that require diverse supplier participation
- Enhancing reporting on Tier II diverse spend
Fostering these diverse supplier relationships reinforces The Hartford’s commitment to ethical business practices, and will ensure support long-term growth and add value to the company. Learn more about our supplier diversity initiative at www.TheHartford.com.