Diversity and Inclusion
Business Value of Diversity and Inclusion
In 2008, the Office of Diversity and Inclusion focused on OfficeMax’s leadership commitment to diversity through the training of executive and senior management levels of the company. We also provided diversity and inclusion training to key departments and to our Canadian subsidiary, Grand & Toy.
As the demographics of the United States shift, a successful strategy is needed to embed and incorporate all aspects of Diversity and Inclusion into all of OfficeMax’s business policies and practices. As a business imperative, Diversity and Inclusion has a direct impact on the composition of our workforce, the culture and environment of our workplace, and our brand image in the marketplace.
Research by DiversityInc®, a leading diversity publication and benchmarking service, and separately by the University of Illinois at Chicago, has demonstrated that, over time, companies with long standing commitments to diversity and strong diversity and inclusion programs, outperform major economic performance indices (Dow Jones Industrial Average, NASDAQ, and the S&P 500). Thus, strong diversity practices can be a contributor to strong economic outcomes.
Additionally, demographic changes in the United States will impact every aspect of our business. These trends include the following:
• Increasing proportion of persons aged 65 and older.
• The United States is becoming more racially and ethnically diverse.
• Minority populations are growing rapidly in every American region.
• From 1990 to 2010, the purchasing power of minority populations are estimated to grow anywhere from 187 percent to 475 percent, depending on the group.
• Women are responsible for as much as 83 percent of all consumer purchases.
• People with disabilities have $1 trillion in annual spending power.
• The annual spending power of the Gay, Lesbian, Bisexual and Transgender community is projected to exceed $835 billion by 2011