Objectives
With our supplier diversity goals clearly in focus, we have established the following objectives:
- Actively explore diverse businesses that can provide competitive, high-quality services and whose business models are aligned with Transact's business strategy
- Ensure diverse suppliers have opportunities to be part of Transact's business partnerships
- Continually communicate the value of supplier diversity with internal and external stakeholders
- Leverage supplier diversity results to help meet our clients’ supplier diversity requirements
These objectives are updated as needed and communicated broadly to the company.
Strategy
As a broad strategy, Transact is continually exploring national, regional, and local efforts that enable us to be aware of diverse resources. Working collaboratively with various functional groups, our supplier diversity efforts help us identify
ways for departments to explore partnership opportunities with diverse businesses and our clients whenever possible.
Transact encourages all departments to identify and include diverse providers to help fulfill business needs whenever possible. Diverse businesses that add value, demonstrate their ability to provide high-quality solutions, and are competitively priced,
reliable, and aligned with our values are included in our strategic business model. This company-wide policy reflects Transact’s commitment to creating opportunities for diverse companies to market to Transact and encourages Transact to offer
opportunities to diverse companies.
Broader Scope
Our supplier diversity initiatives are part of a broader commitment to Corporate Social Responsibility and Diversity, Equity, and Inclusion (DEI). Transact supports the notion that being in an organization that has an engaged and empowered workforce allows
employees to bring their authentic selves to work, which in turn allows Transact to provide the best solutions and services to our clients in ways that positively impact our communities.
Transact strives to find ways to attract, develop, and retain the talent needed to meet business objectives and to recruit and employ highly-qualified individuals representing the diverse communities in which we live. To prioritize this goal, Transact
has employed Mechelle King as its VP of Corporate Social Responsibility who oversees the diversity, equity and inclusion strategy. Mechelle and Carmelitia Coleman, Director of Inclusion, Diversity and Engagement lead Transact’s DEI strategy
and initiatives that focus on fostering an inclusive culture through:
- Support from senior leadership
- The ability to link the organization’s DEI strategy with the overall business strategy
- Emphasizing the importance of DEI in and to the organization
- Diverse representation
- Metrics to measure progress
- Consistent communication of goals and efforts
- A long-term strategy
- Fostering impactful client outreach and engagement programs
These DEI strategic pillars focus on communication and accountability, educational programs, partnerships, and policies and practices. As an example of policy commitments to diversity, in 2020, Transact created a program to match employees’ contributions
toward qualified 501c3 charitable organizations that are not-for-profit. Our company also grants 16 hours of volunteer time to employees who commit time to the critical imperative of social justice, community outreach, and volunteering.
Transact also supports a diverse and inclusive workforce through Employee Resource Groups (ERGs) for women (Transact Women’s Interest Network ? T-WIN), minority ethnic groups (Tapestry), LGBTQIA+ community (PRIDE), and Military and Veterans.
In fact, about 1 in 4 US employees are members of at least one group