Page 19 - Corporate Social Responsibility Report

Expanding our supplier community
We actively seek diverse businesses through our supplier diversity program because as our communities diversify, our supplier base should too. Working with diverse businesses invites new perspectives into our company and supports underrepresented populations in a tangible way.
Capturing and retaining
the loyalty of our clients like Securian that value diversity spend is an integral part of our strategy and one which has mutual benefits.”
Pat St.Ores,
SHI, Securian Financial diverse supplier
Supplier diversity policy
statement
Securian Financial is committed
to ensuring that our supplier procurement process is open to
all suppliers on an equal basis. We seek high-quality diverse businesses, including minority-owned, women- owned, veteran-owned, LGBTQ+- owned and disabled-owned businesses to join our roster of vendors.
Industry memberships
As an active member of four industry organizations, we focus on growing our diverse supplier base through networking, learning about suppliers’ challenges and goals, and benchmarking our supplier diversity program against our peers.
Looking ahead
Engaging our community
Diversity is a core component of
our category management. We engage the community by attending local and regional supplier events hosted by peers or associations to find new opportunities to work with diverse suppliers.
Standardization
In 2020 we standardized our vendor- facing templates to include common language on diversity status, reporting and sustainability metrics. This helps us lay the groundwork for our direct/Tier 1 and indirect/Tier 2* spend goals.
In 2021 Securian Financial’s Enterprise Procurement team will issue a benchmarking survey to our largest suppliers to measure our baseline supplier sustainability and Tier 2 diversity spend. We will continue our engagement with industry memberships started in 2020 to set higher goals for ourselves and our suppliers in 2022.
*Securian Financial defines Tier 1 as the suppliers we contract with for goods and services to operate our business. Tier 2 refers to suppliers that our Tier 1 suppliers contract with to provide goods and services to us.
The testimonial provided by Pat St.Ores was given freely.
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