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Multicultural Enterprises Closing the Gap, Increasing Success

American Express OPENA Research Summary for the American Express OPEN for Government Contracts Program

Federal contract spending has declined in recent years. It amounted to $517 billion in fiscal year (FY) 2012, which is down $35 billion (6%) since FY2009.[1] During this time, however, spending with minority-owned firms has held firm. In FY2012, contract spending with small disadvantaged businesses (SDBs, the majority of which are minority-owned firms) amounted to $32.3 billion, 8% of the total spending – which exceeds the government’s 5% SDB procurement goal.[2]

American Express OPEN is the only company to commission a comprehensive report on the small business government contracting landscape.  Now in its third year, this fact sheet focuses specifically on trends in federal contracting among minority-owned businesses.

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Is Everyone Ready?

Office of Federal Contract Compliance Programs (OFCCP)The OFCCP deadline for the newly etched in stone obligations (issued under VEVRAA and section 503 of the Rehabilitation Act) was March 24, 2014. This date applies to nearly all the new requirements in the final rules, with one important exception: those with AAP plans in place prior to March 24th can retain them in existing form until the end of their current AAP year. However by next year all AAP plans will have to use the new rules.

Read more: Is Everyone Ready?

SHRM Survey Finds Diversity Still Important

Society for Human Resource Management (SHRM)Having a diverse workforce: still important to recruitment efforts, SHRM survey finds diversity initiatives more common among larger organizations because of resources

ALEXANDRIA, Va. – According to a new Diversity & Inclusion survey report released today by the Society for Human Resource Management (SHRM), more than one-half (57 percent) of HR professionals say their recruiting strategies are designed to help increase diversity in their organization.

Read more: SHRM Survey Finds Diversity Still Important

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