Femeconomy has partnered with The 30% Club and leading Australian Board Directors to develop a Gender Equality Procurement Policy, to support organisations to implement procurement strategies that create gender equality across their supply chains, and foster ethical supply practices.
WOMEN LED BUSINESS
The Australian Government report that 34.8% of Australian business owner managers are female. However, women owned businesses attract less than 2% of the global procurement market (United Nations). This gap presents an opportunity to create gender equality through ethical supply chains to enable Australia to achieve economic outcomes for businesses and communities.
ALL ORGANISATIONS CAN IMPLEMENT GENDER EQUALITY PROCUREMENT PRINCIPLES
Whether your organisation is a sole trader, small business, medium sized business, not-for-profit, government entity, or large corporation, you can choose to include women led businesses in your supply chain.
Every budget owner has the power to take action to be consciously inclusive of women led businesses. Research shows this leads to greater profitability, and better organisational outcomes.
Your action could be as simple as setting a goal that at minimum one women led business is included in every procurement/request for quote.
Creating Gender Equality Through Procurement Policy
To help you on the journey, here is an example Policy for you to consider using in your organisation. The goal of the Gender Equality Procurement Policy is to include women owned and led businesses in the organisation’s procurement and supply chain, in recognition that greater diversity leads to improved organisational outcomes and profitability.
If you are interested in accessing Femeconomy’s database of women led organisations, please contact us.
Background
The 30% Club and Femeconomy have shared goals of:
- achieving at least 30% women on ASX 300 Boards
- to sustainably embed gender equality in board representation across industry; and
- promoting the benefits of diversity at all levels of business.
A cohort of leading Australian Directors was engaged to elicit thought leadership on gender equality procurement principles through a Roundtable discussion in Sydney during November 2019.
A focus was to identify the enablers and risks to organisations when introducing procurement strategies that create gender equality.
The outcome from the Roundtable was an example Gender Equality Procurement Policy, for organisations of any size, and a Gender Equality Procurement Toolkit. These tools provide organisations with a practical roadmap for implementing Gender Equality Procurement Principles.
ABOUT FEMECONOMY
Choose female led brands. Create gender equality.
Femeconomy educates consumers, business owners and budget owners on how their purchasing decisions can create gender equality.
Femeconomy identifies and amplifies companies that have at least 30% women on the Board of Directors or are 50% female owned.
Companies with female leaders are more likely to have workplace flexibility and less likely to have a gender pay gap, so they are helping to create gender equality for their employees and communities.
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