Due Diligence and Ongoing Monitoring

Hello,

We are looking into expanding our vendor due diligence program to request information of our vendor's DEI practices. We are hoping to gauge what others are doing in this area and if it is common practice. Does anyone include this currently in their due diligence questionnaires sent to vendors? If so, are there any examples of questions being asked that could be shared?

Our initial thoughts were to include questions along these lines:

1) Does your firm have a written diversity and inclusion practice and/or additional documentation that is considered relevant to the advancement of diversity?

2) Does your firm make proactive efforts to recruit from a diverse pool of candidates when hiring?

Thanks in advance for your help

Hi there

I think these are great questions. You may also consider these additions or refinements:

Commitment to DEI:

• Does your organization have a formal DEI policy?
• Can you provide examples of how DEI is integrated into your company's values and operations?
• How do you measure the success of your DEI initiatives or programs

 Workforce Diversity:

• What is the demographic breakdown of your employees, particularly in leadership roles?
• How do you ensure a diverse talent pipeline?

Supplier Diversity:

• Do you have a supplier diversity program?
• What percentage of your procurement budget is spent with diverse suppliers? (minority, women, disadvantaged business enterprise, veteran)

 Those questions will serve as a good starting point, but I am eager to hear from other members as well.