Another common mistake is diversifying the lower ranks of employment, but there is no diversity up the ladder in the management sector. Most employees prefer to work in an environment where diversity at all levels is encouraged. However, no matter how important this imperative is for companies, it becomes utterly difficult for most companies achieving it. In today’s world, sustainable is smart business and good for all. Solving such complex global issues as world hunger, environmental concerns, financial crises, health care for aging populations requires a higher order of thinking. Home Free Assignment Help Examples Advantages and Disadvantages of Diversity. Employers should see to it that everybody at work is accorded equal treatment by providing an enabling environment for creativity, productivity and teamwork for all. Company work groups, executive C-suites, corporate boardrooms governments and regulators are calling for action: define policies and deliver practices that get results. In this day and age, companies must step up their game in order to remain relevant and competitive in the market. It must invest in leadership development to ensure managers have the skills to manage diverse teams well. A company must have executives who can create a culture of respect and honor for differences for colleagues. Diversity has both merits and demerits. Diversity is any dimension that can be used to differentiate groups and people from one another. Marketing strategies vary tremendously from industry to industry and small business to small business. Women, colored people, people with disabilities and immigrants are normally the marginalized individuals at the workplace. Such jobs usually require creativity and social skills. This makes them to omit other forms of diversity such as disability, religion, sexual orientation, geographic background and reasoning ability. You have entered an incorrect email address! On the contrary, diversity also has some demerits. The American Institute for Managing Diversity. This is because most organizations have the wrong perception of diversity, and they fail to incorporate all levels of diversity. Marketing strategies help bring organization to the task of marketing your products or services to the public. In order to address this problem, organizations should include all workers in the company’s strategy, mission and vision, and acknowledge their skills and areas of knowledge for the overall excellence of the organization (Lieberman web). A company cannot ignore the fact that diversity yields numerous benefits to the company, and should embrace it as a business imperative for enhanced performance and productivity. In a nutshell, it’s about empowering people by respecting and appreciating what makes them different, in terms of age, gender, ethnicity, religion, disability, sexual orientation, education, and national origin. It must hire mature employees who are open to understanding and appreciating the many ways people may think or approach topics. Elements of a successful “diversity” process. Available on the World Wide Web at. Diversity generally means recognizing, accepting and appreciating the differences among peoples’ differences in age, class, gender, ethnicity, physical and mental abilities, race, sexual orientation, religious or spiritual orientation, and status relative to public assistance (Esty). The benefits of diversity include diverse experience, where different workers have peculiar perception and experience from their various cultural backgrounds atop their individuality. November 28, 2019. It must create practices and train managers to competently supervise diverse work teams effectively. 0. “Diversity Staffing: Much More Than You Think!”, Kelly, Lila. Those companies which take the challenge to heart have a stronger likelihood to thrive for the long-term. Different sexual orientation, age, religion, race, gender, ethnicity, class, mental and physical abilities are some of the factors that create diversity at work. Employees must learn to both understand and appreciate how to work with others who are different from themselves. Women, colored people, people with disabilities and immigrants are normally the marginalized individuals at the workplace. The push for diversity is on around the globe today. Advantages and Disadvantages of Living in a Culturally Diverse Society by Zheng Jia 1. This enhances communication skills within the company which may yield positive results to the company’s advantage. What are the disadvantages of workforce diversity? Save my name, email, and website in this browser for the next time I comment. However, no matter how important this imperative is for companies, it becomes utterly difficult for most companies achieving it. Recruitment of new staff is quite costly to firms, and could avoid it by embracing diversity. Companies should integrate the 3R’s of diversity for a company’s success, which are Retention, Results and Recruitment. Advantages and Disadvantages of Diversity. The correlation implied diversity contributed to creativity and effectiveness in productive ways. This improves their wellness and intellectual ability. Diversity. Added to these operational advantages is the value diversity brings to innovation in our global economy. Other small demerits can be complemented with the merits, and handled amicably within the company’s means. Employers should consider employees with diverse background during recruitment in order to improve the quality and performance of the organization in the competitive job market. It takes time to become proficient. To remain competitive, organizations and nations must invest in ways to accelerate innovation. The rate of innovation is on a steep incline (Estrin). Cited by, Catalyst Report: Diversity Improves Return on Equity; cited by, EU Considers Quotas for Women on Boards, The New York Times, 3/2/2012. This makes sure that heterogeneous talent is maintained because employees are not migrating from one company to the next in search of diversity. Moreover, diverse executive teams and corporate boards produce higher returns on equity, improved risk mitigation, higher return on sales, invested capital and corporate revenue results (McKinsey; Leeds University; Catalyst). Therefore, adopting diversity into their system is an indispensable imperative that companies should embrace in order to enhance the company’s performance. U.S. must focus on diversity or face decline in competitiveness. 1.1. There is also an increase in sales because clients’ economic, cultural and social needs are represented when buying goods and services from a diversified company. However due to the intensity of the work rhythm and the diversity of the tasks, a marketing job can be considered stressful by most people. US public companies must file in their proxy statements what their diversity policy is or explain why they don’t have one. This has an adverse effect on the business because employees work separately instead of as a team. Secondly, exposure to various cultures, ideas and perspectives contributes to an employee’s growth and development, encouraging them to be all-rounded. This is termed as diversity staffing (De’Campo web). They did. As both team development and leadership development strengthen within well-managed diverse groups, overall company results improve. Another common mistake is diversifying the lower ranks of employment, but there is no diversity up the ladder in the management sector. In today’s world, sustainable is smart business and good for all. Proper management of this diversity complements the workers’ weaknesses and leverages their strengths in order to enhance the impact on the workforce. Robinson, Kary-Siobhan. Employers should consider employees with diverse background during recruitment in order to improve the quality and performance of the organization in the competitive job market. One of the common mistakes that they make is to consider the visible dimension of diversity, which is mainly gender and race. As both team development and leadership development strengthen within well-managed diverse groups, overall company results improve. Advantages of Diversity: Why Does it Matter? A company must have the integrity and financial ability to back its commitment with the budget to execute consistently and credibly. Diversity in teams can contribute to higher quality and volume of innovation. This makes them to omit other forms of diversity such as disability, religion, sexual orientation, geographic background and reasoning ability. Most employees prefer to work in an environment where diversity at all levels is encouraged. Therefore, diversity should be part and parcel of all companies. The Society for Human Resource Management (SHRM). Those companies which take the challenge to heart have a stronger likelihood to thrive for the long-term. 814. An early study found companies with highly diverse teams in research and development laboratories produced higher numbers of commercial patents (noted by PARC Research Center). Human Relation Theory creates good human relationships. Advantages and Disadvantages of Diversity, Complexity in the Nature of Human Social Interactions, Best Medical Achievements that can Revolutionize the Humankind, Google Coaches its Employees by the Most Qualified Tutors, Article Analysis: Repatriation after Global Assignments: Current HR Practices and Suggestions for Ensuring Successful Repatriation, Effect of Chinese Currency Fluctuations on U.S. Exchange, De’Campo, Martin.

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