Advancing Supplier and Governing Board Diversity
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Deadline for submissions is the 15th of every month.
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November 2019 Newsletter Preview
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I. What’s New:
II
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In the Community:
- 2019 National Minority Supplier Diversity Council Conference & Business Opportunity Exchange
- VIB Conference
III. Spotlight on Diversity:
- Supplier Diversity: How Diverse Suppliers Can Improve Their Relationships with Corporations
- Diversity in the Boardroom: Pushing Forward, Reaching Back
IV.
Announcements:
- 4th Quarterly Insurance Task Force Meeting
- Share your Success Story!
V. Diversity Events Calendar – November
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Veterans Day| November 11, 2019
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On behalf of all of us at the Insurance Diversity Initiative, we honor our veterans and thank you for the tremendous sacrifices that you have made to our country.
In 1919, President Woodrow Wilson proclaimed November 11 as the first commemoration of Armistice Day in the United States. Armistice Day originated from November 11, 1918, at 11:11 am, the exact date and time that the temporary cessation of hostilities of World War I went into effect. Celebrations for the day in the United States centered around parades, public meetings and a brief suspension of business beginning at 11:00 a.m. In early 1954, the 83rd Congress amended the existing resolution, replacing armistice with veteran. On June 1, 1954, November 11 became a day to honor American veterans of all wars. Today, Veterans Day celebrations still include parades, events at local cemeteries, memorial runs and other activities honoring those who have served our country and their families. Read
more
about the history of Veterans Day on the VA website.
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National Minority Supplier Diversity Council Conference
Atlanta, GA | October 13-16, 2019
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Cecil Plummer, President & CEO of the Western Minority Supplier Development Council (WRMSDC) accepts the 2019 Council of the Year Award.
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The 2019 National Minority Supplier Development Council Conference (NMSDC) was held in Atlanta, Georgia from October 13 - 16, 2019. The annual event included a number of workshops and panels around topics such as digital technology, attracting top talent, data analytics, educational programs and numerous matchmaking and networking opportunities. Of special note, Diversity Task Force member Cecil Plummer, who also serves as President & CEO of the Western Regional Minority Supplier Development Council (WRMSDC), was honored with the distinction of NMSDC's 2019 Council of the Year. The NMSDC Regional Council of the Year award recognizes an exemplary affiliate council that demonstrates the programs, activities and accomplishments that establish it as a model of organization, operation and success.
In Cecil's acceptance speech, he noted, "there is too much at stake not to support supplier diversity. Future generations are at stake, the future of the talent pool for employees is at stake. Innovation, diversity and diversity of thought are clear and well documented pathways to profit and efficiency. Economic equality is a matter of national security. The stability and sustainability of our economy is at stake, yes, the very soul of this country is at stake." Congratulations to Cecil and the team at WRMSDC for receiving this notable award.
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Veterans In Business (VIB) Conference
San Diego, CA | October 28-29, 2019
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Clockwise from top left: fireside chat led by VIB Chairman, Cole Woodman; General Session with Veteran Business Owners; Above and Beyond Awards at Air & Space Museum; Tactical Networking.
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Nearly 400 attendees from across the United States convened at the 2019 National Veterans in Business (VIB) Conference in San Diego, CA last month. The annual conference is hosted by the VIB Network which advocates for all Veteran business owners, SDVOSBs and DVBEs who want to utilize their Veteran status and grow their business. The event is dedicated to providing veteran business owners with an opportunity to connect with the procurement and supplier diversity teams from corporations and government agencies across the country. Guests listened to successful veteran business owners and supplier diversity champions sharing their knowledge and experiences, learned informative business pitching tips, participated in a"Tactical Networking" where veteran business owners met buyers and supplier diversity professionals face to face, and ended the conference with the Above & Beyond Awards Banquet at the Air and Space Museum.
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SUPPLIER DIVERSITY SPOTLIGHT
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How Diverse Suppliers Can Improve Their Relationships with Corporations
By: CVM Solutions
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Successful businesses are built on good relationships with clients and vendors. For diverse-owned businesses, building and maintaining relationships with corporate partners should be a top priority. Firms committed to supplier diversity and inclusive supply chains are a boon for diverse suppliers that are up against systemic barriers and outright discrimination.
Winning a corporate contract can be a significant victory for a diverse business, but that’s just the beginning—the company still must deliver on its promise of goods or services, and it appears that some suppliers are faltering. In our
annual survey
of CVM corporate customers, just 42 percent of respondents said that at least three-quarters of diverse suppliers were meeting expectations—a drop from 48 percent last year.
In an increasingly competitive market, diverse suppliers have the power to and must improve the outcomes they are delivering to their corporate partners through rigorous self-assessment, soliciting customer feedback, and utilizing development and mentoring resources that supplier diversity managers offer.
Read more about the three tips recommended for diverse suppliers by accessing the
full article
on the CVM Supplier Diversity blog.
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GOVERNING BOARD DIVERSITY SPOTLIGHT
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Diversity in the Boardroom: Pushing Forward, Reaching Back
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Women Corporate Directors Foundation’s Thought Leadership Commission and the KPMG Board Leadership Center recently published their 2019 report. This report provides practical recommendations based on the wisdom and experience of corporate board members and diversity thought-leaders by considering what it takes to push forward to change the face of the boardroom, and also how boards can reach back to drive change in their companies. The report also addresses board diversity on a global level and offers twelve specific recommendations for boards to consider.
Read the
full report
for more information on the value and opportunities to improve diversity on corporate boards.
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4th Quarterly Insurance Diversity Task Force Meeting
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The 4th Quarterly Insurance Diversity Task Force Meeting
Wednesday, December 4, 2019
10:00 a.m. to 12:00 p.m. (PST)
California Department of Insurance
300 Capitol Mall - Check-in at 17th Floor Lobby
Sacramento, California 95814
Video conferencing is available in the San Francisco and Los Angeles CDI offices. Teleconference options are also available.
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Do You Have a Success Story? We Want to Hear from You!
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Do you have a success story related to governing board diversity?
Do you have NEW or RENEWED Business Relationship/Networking opportunity that has created opportunities for your business within the Insurance Industry?
Do you have NEW or RENEWED Procurement or Contract Opportunity(ies) within the Insurance Industry?
If you said, "Yes," to any of these questions - we want to hear from you!
Please considering answering our
short survey
to tell us about it or contact us directly at
diversity@insurance.ca.gov.
Each step you take towards advancing governing board and supplier diversity within your company is a measure of your success, and you provide others with the opportunity to learn and grow from your experiences.
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DIVERSITY EVENTS CALENDAR:
November 2019
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NOVEMBER
Hosted by: City National Bank
November 8, 2019
Los Angeles, CA
Hosted by: Western Regional Minority Supplier Diversity Council (WRMSDC)
November 9, 2019
Pleasanton, CA
Hosted by: WRMSDC
November 14, 2019
Las Vegas, NV
Hosted by: 2020 Women on Boards
Various Dates in November
Multiple Cities, Nationwide
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To submit a request to add your Supplier Diversity or Governing Board Diversity-related event, please contact us at:
diversity@insurance.ca.gov
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The Insurance Diversity Initiative was established in 2011 to address diversity issues within California's $310 billion insurance industry. Specifically, these efforts are meant to increase procurement from California’s diverse suppliers, as well as to increase diversity amongst insurer governing boards. To accomplish these goals, the Department conducts outreach, creates partnerships, hosts events, and most importantly, administers surveys to collect and publicly disseminate information about the state of diversity in the insurance industry.
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INSURANCE DIVERSITY INITIATIVE
Office of Insurance Commissioner Ricardo Lara
California Department of Insurance
(916) 492-3623
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