At SkyWater Search Partners, we believe that supporting our community is more than just an ideal; it's a principle guiding how we operate and contribute to our communities. As a leading executive search firm, our role extends beyond helping organizations find exceptional talent—we strive to be a force for positive change in the business ecosystem. One way we do this is by intentionally directing our spending to support local vendors and businesses that deserve the business.
Why Intentional Spending Matters
Investing intentionally is a tangible way to contribute to economic equity. Studies consistently show that minority-owned and women-owned businesses face systemic barriers to growth, including access to capital and market opportunities. For instance, according to a report by McKinsey & Company*, closing the racial wealth gap could add $1 trillion to $1.5 trillion to the U.S. economy by 2028. By choosing to search for these businesses, instead of falling back on easy/old habits, we aim to help level the playing field while strengthening the fabric of our community.
Our Commitment in Action
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Partnering with Local Vendors: We prioritize working with businesses in Minnesota and the surrounding region. Whether it’s catering for an event, marketing services, or office supplies, we actively seek out local providers. This not only supports the local economy but also fosters a deeper connection with our community.
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Supporting Female- and BIPOC-Led Businesses: We understand the unique challenges faced by women and BIPOC entrepreneurs, and we’re committed to being part of the solution. By seeking out a diverse slate of businesses to choose to partner with, we’re helping to drive opportunity and growth where we may have overlooked in the past.
- Evaluating Our Vendor Relationships: Regular audits of our vendor list ensure that we’re aligning our spending with our values.
For example, previously, when an employee had a baby, they received a care package that included a gift card to a typical big box store. We've swapped out that vendor for a gift card in the same amount to Oh Baby!, a local small business retailer owned by Mary Lauer. We’re proud to say that a growing percentage of our vendor relationships reflect our commitment to diversity.
We've done this exercise in areas ranging from catering to employee gift baskets to contractors and service vendors.By making changes, big and small, to this aspect of our business, we’re striving to create a ripple effect that extends beyond our office walls.
Join Us in Making a Difference
We invite you to join us in this kind of intentional spending. Find places in your spending that could easily be shifted to support a business that is all too often overlooked.
*Source: McKinsey & Company, "The economic state of Black America: What is and what could be" (2021).
