Meetings for this program take place virtually and use video conferencing to connect EMSDC and SCMSDC’s Cohorts with Aramark ERGs, SMEs, and University Professors throughout the 2-month program. Upon Cohort completion, the Cohort will participate in a graduation ceremony and receive a certificate award.
The cohort consists of Aramark Employee Resource Group (ERG) representatives serving as Executive Coaches and SMEs, along with Class III, IV, and MBEs in the food & beverage, hospitality, and facilities industries who serve as the Mentees.
The Aramark partnership with the Eastern Minority Supplier Development Council (EMSDC) and Southern California Minority Supplier Development Council (SCMSDC) is an excellent case study highlighting the benefits of supporting minority-owned businesses. This national Aramark Centers of Excellence program benefitted minority-owned food retail businesses and Aramark. The partnership created Centers of Excellence that provided minority-owned businesses with access to resources, training, and networking opportunities. This resulted in increased revenue, an expanded customer base, and access to new resources for the participating businesses. The initiative also allowed participating businesses to collaborate and share ideas, which resulted in increased innovation and growth. These benefits are invaluable to businesses of any size in any industry, making this initiative appealing to any Fortune 100 companies looking to support the growth of diverse businesses.
Overview: Aramark, a global leader in food, facilities, and uniform services, launched the Centers of Excellence Mentoring Cohort program in July 2022, aimed at supporting the growth and development of minority-owned businesses in Pennsylvania, Southern New Jersey, Delaware, and Southern California. To evaluate the program’s effectiveness, Aramark surveyed program participants to gather feedback on their experiences.
Challenge: Aramark recognized the need to support the growth and development of minority-owned businesses in their regions, which face significant challenges in accessing capital, developing networks, and accessing resources that can help them grow and succeed. However, they needed a way to evaluate the impact of their mentoring cohort program on these businesses.
Solution: Aramark surveyed participants in their Centers of Excellence Mentoring Cohort program to gather feedback on their experiences. The survey focused on several key areas, including participant satisfaction, program impact on revenue and profitability, and the program’s resources and support effectiveness. The survey was administered to 100 minority-owned businesses across the four regions.
Results: The survey indicated that the program has been highly influential in supporting the growth and development of minority-owned businesses. 85% of participants reported that the program positively impacted their business, with 75% reporting an increase in revenue and 65% reporting an increase in profitability. Additionally, 80% of participants reported that the program’s resources and support had been highly influential in addressing their business challenges.
Conclusion: Aramark’s Centers of Excellence Mentoring Cohort program has been highly influential in supporting the growth and development of minority-owned businesses. The survey results demonstrate that the program has positively impacted the participating businesses’ revenue, profitability, and overall success. The program’s success provides a model for other corporations seeking to support the growth and development of minority-owned businesses. In addition, it highlights the importance of providing targeted support and resources to overcome the systemic obstacles these businesses face.
Contact us to discuss ways EMSDC can partner with your organization’s industry-specific initiatives to increase your supplier network at tcash@emsdc.org
