Prudential's Supplier Diversity Program

Prudential is committed to providing meaningful opportunities for qualified diverse vendors to compete for business.  The Company recognizes that purchasing products and services from businesses that reflect the demographics of our markets contributes to the sustainability of communities, customers, and Prudential.

Our vendor diversity program includes the following diverse classifications (Diverse Vendors):


Minority-owned Business Enterprises (MBEs)

Women-owned Business Enterprises (WBEs)

Veteran-owned Business Enterprises (VBEs)

Service-Disabled Veteran-owned Business Enterprises (SDVBEs)

People With Disability (PWD) - owned firms

LGBT - owned firms

 

Additionally, we support the communities in which Prudential operates by seeking opportunities for Small Business Enterprises (SBEs) and Local (Newark, NJ-based) firms. 

Review the sections below to verify that your firm meets Prudential’s requirements as a Diverse Vendor.  Please note that Diverse Vendor status is not a guarantee of business.

 

If you are an employee of a firm that meets our certification requirements and you have authorization to accept and agree on behalf of the firm to abide by our policies and ethical standards, then we invite you register through our Vendor and Contingent Worker Portal.

 

Registration is not a guarantee of business, nor does it confer on your company any status as a vendor of Prudential. The actual award of contracts is a competitive process involving both diverse and non-diverse vendors and any business your company does with Prudential will be subject to separate terms and conditions to be negotiated between us.


Definitions

A diverse firm must be at least 51 percent owned, operated and controlled by one or more individuals within the same diverse category or, in the case of publicly owned firms, at least 51 percent of the stock must be owned by individuals within the same diverse category as follows:

 

Minority-owned Business Enterprise (MBE): individuals within the following racial or ethnic groups: Black, Hispanic, Asian-Pacific, Asian-Indian or Native American.

Women-owned Business Enterprise (WBE): women, regardless of race or ethnicity.

Veteran Business Enterprise (VBE): individuals who have served in active duty in the United States military.

Service-disabled Veteran-owned Business Enterprise (SDVBE): individuals who have served in active duty in the United States military and were disabled as a result of that service.

People with Disabilities (PWD) – owned:  individuals who have a disability regardless of how that disability occurred.

Lesbian, Gay, Bisexual or Transgender (LGBT) – owned:  individuals that are lesbian, gay, bisexual or transgendered.

Certifications Requirements

Prudential requires that diverse firms provide certification of their diverse status. Third-party certification indicates that the firm's ownership structure and operations have been thoroughly reviewed and deemed consistent with the definitions above.

For MBE and WBE firms, third-party certification is required.  Prudential prefers certification from the National Minority Supplier Development Council (NMSDC) for MBEs and the Women’s Business Enterprise National Council (WBENC) for WBEs. 

For VBEs, SDVBEs, PWD and LGBT, third-party certification is preferred.  Attestation on the firm’s letterhead stating that the firm is 51 percent owned, operated and controlled by the specified diverse group is required in lieu of third-party certification.

Certifying Agency Information

Below is information on Prudential’s preferred certifying agencies for diverse firms. These sites are provided for convenience.  Prudential is not responsible for either the sites or the information that appears on them.

National Minority Supplier Development Council (NMSDC)

www.nmsdc.org

 

Women's Business Enterprise National Council (WBENC)

www.wbenc.org

 

US Business Leadership Network (USBLN®)

www.usbln.org

 

National Gay & Lesbian Chamber of Commerce (NGLCC)

www.nglcc.org

 

Department of Veterans Affairs

www.vetbiz.gov

 

Our Commitment to Diversity and Inclusion

Prudential has a long-standing commitment to Diversity and Inclusion which includes the use of diverse vendors.  We recognize that a diverse vendor base:

 

  • Enhances our reputation and brand.
  • Supports our aspiration to be a most admired company.
  • Supports our long-standing commitment to the communities where we live and work.
  • Expands the pool of vendor talent, capabilities and perspectives.
  • Addresses the interests of a variety of Prudential constituencies including our institutional and individual clients as well as our Board and senior leadership.

 

To find suppliers, we reach out to the diverse business community in a variety of ways, particularly through our memberships in prominent supplier diversity organizations: 

 

  • Prudential is a national corporate member of The National Minority Supplier Development Council (NMSDC) and an active sponsor of our local affiliate, the NY NJ Minority Supplier Development Council (MSDC). Our supplier diversity manager is a member of the NY NJ MSDC’s Membership Committee.
  • Prudential is a national member of the Women’s Business Enterprise National Council and actively participates with our local affiliate, the Women Presidents’ Educational Organization (WPEO). Our supplier diversity manager sits on the WPEO’s board.
  • Prudential actively participates with the Financial Services Roundtable for Supplier Diversity (FSRSD), a group of peer firms that promote supplier diversity within the financial services industry. Our supplier diversity manager serves as a co-chair of the FSRSD Membership Committee and is a member of the Executive Committee.

 

Prudential consistently ranks among Hispanic magazine’s “Top Vendor Programs for Latinos” and DiversityInc’s “Top 50 Companies for Diversity” for which supplier diversity is a significant component. In addition, we have been recognized by:

 

  • Minority Business News USA - 2012 Ambassadors for Supplier Diversity
  • DiversityPlus Magazine – 30 Champions of Diversity - 2011
  • WE – Women’s Enterprise USA’s Best of the Decade – 2011
  • DiversityPlus Magazine – 2011 Women in Power Impacting Diversity
  • MBNUSA’s Corporate 101 Top Companies for Supplier Diversity – 2011 & 2010
  • The Women Presidents’ Educational Organization Corporate Leadership Award – Done Deals Challenge 2008
  • The Women Presidents’ Educational Organization Corporation of the Year – NY Region, 2008
  • WE - Women's Enterprise USA First Ladies of Supplier Diversity, 2008

 

In addition to first tier relationships with diverse vendors, we seek strategic opportunities to partner with our non-diverse vendors to expand opportunities for diverse vendors within our supply chain. Vendors who report second tier spend to Prudential are viewed as adding additional value. 

Please see Supply Chain Diversity for more information.