Diversity in Organizations
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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This paper provided an analysis of how diversity can positively impact organizations, its impact on organizational performance, and the importance of diversity in organizations.
According to Redman, T. and Wilkinson, A. (2001) in their article “Contemporary Human Resource Management”, diversity is not just a matter of hiring people from different backgrounds, but also a strategic and systematic approach to managing them within an organization. Diversity involves creating a work environment that values and respects the differences among employees and leverages them to achieve organizational goals. Managing diversity in an organization is considered one of the most difficult issues that an organization is faced with but once appropriately managed it is really rewarding in a positive manner. Diversity in the workplace is in many forms such as educational background, lifestyle, ethnicity, age, disability, and gender to mention but a few. Diversity can bring many benefits to an organization, such as increased creativity, innovation, productivity, customer satisfaction, and social responsibility. However, diversity also poses some challenges, such as potential conflicts, communication barriers, stereotypes, and discrimination. Therefore, organizations need to implement effective policies and practices to foster a culture of inclusion and equity for all employees. In order to achieve effective diversity management, organizations need to adopt a strategic approach that aligns with their vision, mission, and goals. This involves conducting a thorough assessment of the current state of diversity and inclusion in the organization, identifying the gaps and challenges, and developing a clear action plan to address them. The action plan should include specific and measurable objectives, timelines, responsibilities, and resources. Moreover, the action plan should be communicated and implemented across all levels of the organization, with regular monitoring and evaluation.
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Diversity in Organizations a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the general meaning of diversity management and its roles in an organization
- Understand the impact of diversity management on an organization’s growth
- Apply the concept of diversity management to real-life organizations
1.0 INTRODUCTION
Diversity is a term that encompasses the variety of human experiences and identities that shape our society. Diversity can refer to various aspects of identity, such as gender, race, ethnicity, religion, age, sexual orientation, disability, and more. Diversity is important because it enriches our perspectives, fosters creativity, and promotes inclusion and equity in society. In today's complex world, diversity is a crucial element of organizational performance and sustainability. Diversity enables organizations to leverage the varied skills, perspectives, and experiences of their workforce, customers, and partners.
Diversity can foster creativity, innovation, problem-solving, decision-making, and customer satisfaction. It can also lower turnover, absenteeism, conflicts, and lawsuits. Diversity is not only a moral and ethical issue but also a strategic and competitive advantage for organizations that embrace it.
Why is diversity important for organizations?
Diversity is recognizing and appreciating the differences among people in terms of their backgrounds, identities, experiences, perspectives, and talents. Organizations can benefit from diversity in many ways, such as improving their performance, innovation, creativity, and social responsibility.
Diversity means having a variety of perspectives, backgrounds, experiences, and identities among the members of an organization. This can help organizations to better understand and serve their customers, stakeholders, and communities. Diversity can also foster a culture of learning, collaboration, and inclusion, which can enhance the quality and effectiveness of the work done by the organization. Diversity is not only a moral duty but also a strategic advantage for organizations that want to thrive in a complex and dynamic world. Diversity can also help organizations to attract and retain talent, as well as to comply with legal and ethical standards.
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