The Royal Bank of Canada has a mentorship program to help businesses owned by minority groups to bid for its supply contracts.
At the Toronto Dominion Bank, bankers take part in educational events for small- and medium-sized companies to join its diverse supply chain.
Even the YMCA, a not-for-profit group, now asks its potential good and service suppliers about their own diversity program before giving them its business.
However, the supplier diversity practices at these three Greater Toronto-based organizations are the exceptions rather than the norm, says a new report released Wednesday by the DiverseCity initiatives, a joint project by the Maytree Foundation and the Greater Toronto CivicAction Alliance.
While 73 per cent of the GTA’s 95 top employers said they have employee diversity programs, only 13 per cent have SD programs. These companies account for at least $100 billion in spending annually, representing 33 per cent of GTA’s economic activity.
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The Toronto Star