Collaborating to make an impact that matters
Throughout this report, we discussed our responsibility to positively impact the communities in which we live and work. Our aim is to support a prosperous future for our communities, one where the economic system is more equitable, sustainable, and inclusive. As a company and as individuals, we are active in the community, collaborating with our clients and working closely with organizations to support this collective commitment of inclusive prosperity. In this section, we share select goals and initiatives related to our diversity, equity, and inclusion community work, which are a subset of our broader corporate citizenship and external engagement strategy.
Creating long-term, sustainable change in underrepresented business communities
As we work to address disparities in the communities we serve, Deloitte is increasingly focused on leveraging our internal capabilities to catalyze the growth of diverse businesses. In 2019, our US firm spent more than $700 million (19% of addressable spend) on diverse suppliers.* Our long-term strategy includes further diversifying and increasing our spend, investments, teaming, and access to Deloitte assets and offerings with diverse businesses. Our goal is to increase the amount of addressable spend on diverse suppliers to $1B by 2025.
Supplier diversity: To start, our immediate focus is on identifying opportunities to increase our current level of spend with Black-owned and Black-led businesses, which is currently less than 1% of Deloitte’s addressable spend. While continuing to team with our current suppliers, Deloitte has also started to identify and build new relationships to increase our spend with Black-owned and Black-led businesses to at least $200M by 2025. We also recognize there are additional opportunities to help enable and sustain growth for these businesses and are prioritizing several actions, including:
- Supplier diversity education: Offering supplier diversity education through the creation of educational and growth accelerator programs targeted to Black-owned suppliers, with curriculum focused on enabling their success (e.g., funding, procurement, strategy).
- Partner consortium: Exploring consortium partnerships with external organizations to jointly support and invest resources in Black-owned businesses.
- Marketing and awareness: Executing a marketing and awareness campaign to increase internal awareness of Black-owned businesses to better diversify Deloitte’s spend.
Additionally, we are exploring ways to team with Black-owned and Black-led banks. Discussions with a select group of banks are underway with opportunities in areas such as lending, deposits, partner capital financing, and community educational programs.
While our focus to increase the diversity of our spend and investments will begin with the Black business community, we are committed to pursuing similar initiatives with organizations that are led or owned by other underrepresented communities.
* A diverse supplier is a business that is at least 51% owned and operated by an individual or group that is part of a traditionally underrepresented or underserved group. Common classifications are small-business enterprises (SBEs), minority-owned enterprises (MBEs), and woman-owned enterprises (WBEs).
Coalitions and Collaborations
Working together to advance a shared vision of prosperity
Creating sustainable change and driving social and economic prosperity requires coordination across many levels of government and business. For Deloitte, this means working with clients and industry leaders to drive workforce initiatives and creating multiple opportunities to engage, support, and invest in diverse talent. We do this through training, credentialing, and providing education opportunities focused on the skills needed for success in the workplace of the future. One of our signature programs for creating new paths for employment includes OneTen.
OneTen is a corporate-led coalition effort started by Ken Frazier, CEO of Merck. It aims to advance economic and racial justice by accelerating and supporting efforts to hire one million Black Americans into jobs that provide pathways to opportunity over the next decade. As a founding member of OneTen, Deloitte will support internal and external efforts to achieve lasting impact for Black talent, share knowledge and best practices, and help to generate research, case studies, and thought leadership to influence wider adoption of employment and business practices that support economic and racial justice.
Driving decisions at the highest levels
Deloitte participates in policy discussions on some of today’s most important societal and economic challenges, seeking outcomes that support our business, our people, our communities, and the public interest. Through engagement with a diverse set of policymakers and the broader policy community, Deloitte contributes its expertise to drive solutions that promote growth, innovation, and opportunity. The firm’s policy priorities include issues that impact diversity, equity, and inclusion, and we look for opportunities to advance our DEI goals and drive institutional and systemic change through a variety of policy initiatives.
1 Sarah McBride, “More than 200 Major Businesses File Landmark Amicus Brief in Support of LGBTQ Workers,” Human Rights Campaign, July 2, 2019.
Amicus brief in support of LGBTQIA+ workers
Deloitte was proud to have stood up and supported LGBTQIA+ workers when the landmark Supreme Court decision was made in June 2020, which stated that Title VII protects gay and transgender individuals from workplace discrimination. The previous year, Deloitte signed an amicus brief along with 200+ organizations in support of LGBTQIA+ workers in these cases. The brief, led by the Human Rights Campaign (HRC), Lambda Legal, Out & Equal, Out Leadership, and Freedom for All Americans, had “more corporate signers than any previous business brief in an LGBTQ nondiscrimination case,” according to HRC.1 Deloitte is also proud to be a member of the Business Coalition for the Equality Act.
Inspiring our people to make an impact that matters
At Deloitte, we believe in an inclusive and diverse workforce to support a more productive, equitable, and prosperous society. By bringing together our network of people, clients, and nonprofits, we leverage the power of Deloitte and our communities to address opportunity gaps and achieve lasting social impact. As part of our global network’s WorldClass ambition to impact 50 million futures, the US firm is committed to help 10 million individuals develop job skills, improve educational outcomes, and access work opportunities in the changing economy by 2030.
We work to help change lives and build stronger systems in the following ways:
- Supporting nonprofits: We work with nonprofit and community organizations at the national and local level to help increase their impact in the education and workforce development sectors.
- Our pro bono engagements: Totaling 935,000 hours over the past 12 years, we have deployed full-time teams that leverage our service capabilities to help address organizations’ most pressing issues.
- Our volunteer efforts: Deloitte professionals have volunteered more than 350,000 hours annually, leveraging their skills, experience, and time to help nonprofits in a variety of ways, from virtually mentoring high school students to serving on nonprofit boards.
Career Opportunity Redefinition and Exploration (CORE) Leadership Program
Created in 2013, the CORE Leadership Program aims to help transitioning veterans and service members leverage their leadership experience and strengths to find a civilian career that aligns with their passions.
Working with Black-led nonprofits to help create pathways to opportunity
Deloitte professionals are working with Braven to support the Braven Accelerator as leadership coaches, providing promising college students with professional development skills and mentorship to succeed. The connections made through the initiative not only help first-generation college students navigate their college experiences, but also prepare them to move into their postgraduate careers with the support of Deloitte professionals.
External Impact Goals
Summary of our External Impact goals
As we build on our track record of making an impact that matters, we will continue to collaborate with our people, clients, and community organizations to support the collective commitment of inclusive prosperity. We are setting bigger and broader goals for our existing workforce, education, and policy initiatives. And we are expanding our efforts to diversify our supplier network and support banks and businesses that are led or owned by underrepresented communities.
We commit to the following goals for the Deloitte US workforce:
- Increase the amount of addressable spend on diverse suppliers to $1B by 2025
- Increase our spend with Black-owned and Black-led businesses to at least $200M by 2025
- Collaborate with clients and industry leaders to drive workforce initiatives
- Drive institutional and systemic change through policy initiatives
- Reach 10 million individuals through education and workforce initiatives through WorldClass by 2030