2023 Sustainability Report Summary
INTRODUCTION OUR CLIENTS OUR PLANET OUR PEOPLE AND COMMUNITIES OUR BUSINESS ACKNOWLEDGEMENTS
2023 SUSTAINABILITY REPORT | 25
Diverse Supplier Spend Our Supplier Diversity Program supports the inclusion of diverse and underrepresented suppliers in the procurement process. We aim to have our competitive bidding and contracting requirements include diverse suppliers to ensure that they have equal opportunity within the Cushman & Wakefield ecosystem. To monitor our progress, we have established tools such as a Diversity Dashboard , which tracks U.S. program activities, and our Supplier Registration Portal , which accelerates access to various of certified Women-Owned Business Enterprises (WBEs) and Minority-Owned Business Enterprises (MBEs). Cushman & Wakefield’s Supplier Diversity Advisory Council brings together senior leaders from across the company to drive supplier diversity strategy and monitor progress toward our goal of spending $1 billion with diverse businesses by year-end 2025. Our Chief Financial Officer chairs this council, demonstrating top down support for our supplier diversity program. Utilizing this governance structure has helped to build and sustain momentum for supporting diverse suppliers as an integral aspect of our delivery model that embodies our company values while providing differentiated services to our employees and clients. In 2023, our diverse supplier spend totaled approximately $840 million, a 4.6% increase compared to 2022, despite industry headwinds. The growth was primarily driven by a 12% increase in our supplier spend with WBEs as we continued our work in incorporating more WBEs into our supplier base, and 18% growth in veteran-owned businesses (VET) during the year. The spend with MBEs declined by 2%, although this segment continued to account for almost 40% of our diverse suppliers.
DIVERSE AND SMALL BUSINESS SUPPLIER SPEND PROGRESS
BUILDING MOMENTUM
2020
2021
2022
2023
Diverse Suppliers (DBE, Disabled, LGBTQ+, MBE, VET and WBE) 14
$802.4M +38% From 2021 to 2022
$839.7M +5% From 2022 to 2023 3,541 -.002% From 2022 to 2023
$580.0M +30% From 2020 to 2021 3,162 +23% From 2020 to 2021
$444.5M
SPEND
3,605 +14% From 2021 to 2022
2,562
# OF
SUPPLIERS
Small Business Suppliers 15
$358.4M +20% From 2021 to 2022
$346.6M -3.3% From 2022 to 2023
$297.5M +11% From 2020 to 2021
$267.1M
SPEND
3,284 +22% From 2021 to 2022
3,215 -2.1% From 2022 to 2023
2,965 +28% From 2020 to 2021
2,316
# OF
SUPPLIERS
MBE: Minority Business Enterprise VET: Veteran-owned Business WBE: Women's Business Enterprise
DBE: Disadvantaged Business Enterprise Disabled: Disabled-owned Business LGBTQ+: Lesbian, Gay, Bisexual, Transgender, Queer/Questioning and Others
Small/SBE: Small Business or Small Business Enterprise Other: All additional diversity
14 Values include all diverse designations except suppliers that are SBE/small only. 15 SBE/small only (does not include SBEs that are also classified as diverse). Note: Categorization of diverse designations was refined in 2021, therefore resulting in restatement of our 2020 data.
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