Case Study Of KPMG International In China

As we enter the new millenium, diversity in the workforce is rapidly increasing. Businesses and organizations are living up to the great melting pot image the United States has always been popular for. Employees now reflect a diversity of cultural perspectives, ethnic backgrounds, ages, genders, physical abilities, and levels of education. This wave of multiculturalism is here to stay and cannot be ignored. It is in need of attention in order to uphold the well-being and success of businesses and organizations all over the country.

The way in which an organization tackles diversity determines its negative or positive outcome. All the 5 companies agreed that diversity has contributed to their success. Some barriers were identified in managing diversity like the difficulties faced by women in managing the work and family, fear of discrimination, resistance to change, diversity is not seen as an organizational priority, resistance to change and unsupportive working environment for diverse employees. Diversity contributes to more productivity but if not properly managed could hinder success.

many goods and services targeted to the mainland Chinese market was traded via Hong Kong

In recent years, diversity and inclusion have emerged as an essential business practice. Why are diversity and inclusion so critical to organizations nowadays? Do they really help organizations achieve better results? Why is it a unique issue in the 21st century workplace? To answer these questions, organizations should look into factors such as globalization. Globalization increases interactions around the world and diversifies the profile of the workforce, which also contributes to the changing composition of the current workforce. While globalization offers extensive opportunities for organizations, it also imposes many challenges that require new responses. Organizations are not only looking for ways to effectively manage a diverse workforce but also to leverage it to achieve better outcomes.

This study sought to answer three research questions. Although the questions have been presented in previous chapters, they are worth presenting again.

Diversity has been a hot-button topic for many of today’s companies. Diversity programming and initiatives are regularly implemented by organizations of all types and sizes. As it relates to an organization’s human resources operation, diversity will continue to be an ever-changing term as the work towards equitable treatment for all continues.

It was very helpful to understand the recruitment process and the sheer challenge of selection made me feel that should I be successful, I will be part of a very strong team and convinced me that KPMG is the place where I want my career to be.

KPMG came into vicinity in 1987 with the union of Peat Marwick Global (PMI) and Klynveld Fundamental Goerdeler (KMG) and their individual part firms. Crossing three centuries, the association's history might be followed through the names of its main establishing parts - whose initials structure the name "KPMG."

Diversity acknowledge that people are differ in many ways, such as age, gender, social status, disability, sexual orientation, religion, ethnicity and culture (Kossek, Lobel & Brown, 2005). Nowadays, diversity has increasingly become the most valuable aspect of HRM areas. Develop countries such as Australia and New Zealand hold multicultural workforce as one of the most important dimension of diversity, where there are a large number of international migrants with different cultural backgrounds (Shen, Chanda, D’Netto & Monga, 2009). Studies from McLeod, Lobel and Cox (1996) and Wilson & Iles (1999) point out that a diverse workforce has a better-quality solution to brainstorming task, display more cooperative behaviour, and can raise organizational efficiency, effectiveness and profitability. Hence, utilization of diversity allows organization to increase the organization cooperative behaviour and competitive advantage (Cassell 1996). However, in groups where people from different cultural and ethnic background are working together, differences may occur in management styles, attitude towards hierarchy, approaches to group work, and ways of expressing

KPMG, LLC is a U. S. corporation that specializes in corporate accounting, taxes and financial advisory. They are one of the Big Four accounting firms in the United States. According KPMG’s home page of their website, the parent company KMPG International operates in countries around the world and has 162,000 staff, with average annual salaries of $153,000, and total annual revenues of $24.8 billion. This level of success does not happen randomly. As an international company, KMPG is dedicated to diversity and recognizes the benefits of diverse staff, partners, suppliers, and clients. KMPG’s diversity and inclusion plan has an infrastructure that includes a Diversity Advisory Board, Diversity Networks and Councils, and meaningful metrics.

The concept of diversity has broadened in scope in the recent past, evolving from the concept of mandated quotas and affirmative action, to the reality of a diverse workforce being capable of providing quantifiable business value. A variety of external factors have influenced the conceptual evolution of diversity within the workplace. For example, globalization of markets has provided the concept of diversity with an opportunity to demonstrate a clear competitive advantage. A native understanding of the cultural values, norms and business practices of a foreign market can give an organization a clear advantage over their competition. Another area where diversity offers advantages is in the

The general line of reasoning is that if we learn to incorporate each other’s diverse traits and characteristics in the workplace, we can then use these differences to foster an innovative environment, which will give the company a competitive advantage over the competitors that do not accept workforce diversity. According to the Allied Academies International Conference, “Diversity is rapidly becoming a common practice among companies due to the increasing number of minorities entering the job market today. As these groups become more prevalent throughout companies, upper-level employees are facing numerous challenges when determining what changes must take place to create a positive working environment for everyone. Management is responsible for the development and implementation of effective policies directly relating to diversity to ensure the acceptance of minorities into the workplace and to aid in minorities’ success through equal opportunities and treatment.” (Marcia L. James, 2001, Academy for Studies in International Business Proceedings)

The People's Republic of China is the second-largest country in the world by land area, with a unique style of doing business. People from other countries would also look at America and think they have a unique style of doing business as well while we would see it as the norm. By the same token, China’s take on the business world, economy, and general way of shopping vastly differs from the American’s because Chinese business value personal relationships in comparison to American’s more impersonal style.

With China emerging as a global power in business within the last decade, knowing about doing business in China has become more important than ever. There are both many advantanges and challenges with doing business in China in this modern era, and understanding both sides of this coin is the key to being successful in China. Some aspects to keep in mind include the cultural barrier, the price of the work force in China compared to the United States, and have the “made in China” brand be accepted back in the United States.

In response to the growing diversity in the workforce around the world, many companies have instituted specific policies and programs to enhance recruitment, inclusion, promotion, and retention of employees who are different from the privileged echelons of society. The privileged groups may vary from one country to the next. The workforce of the world is a dynamic environment, and in order for this dynamism to be put to use for the benefit of organizations, they must develop an effective strategy for managing diversity. Global Diversity Management refers to the voluntary organizational actions that are designed to create greater inclusion of employees from various backgrounds into the formal and informal organizational