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Diversity At Big Business Is Not Only Positive For A Company

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Elijah Morey
Ellisor-Catoe
ENG 102
2-27-17
Diversity in Big Business
Diversity in big business is not only positive for a company, but also benefits employees personally and communally. Diversity is a word that is being used more and more, it has such a broad meaning that it can be tied to almost anything about a person place or thing. In the case of diversity in the workplace it mostly means different types of people, whether it’s gender, race, ethnicity, religion, height, weight; too many variations to list bringing up the broadness of the term and how it is used in everyday vernacular. Big business diversity has continued benefits throughout the workplace. The expansion of different people may make some nervous but by doing so will also
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Looking from the outside in we will never know and companies are not open to give out the information on why they hired one person over another (Yunhyung, Chung, "Cracking But Not Breaking: Joint Effects Of Faultline Strength And Diversity Climate On Loyal Behavior." Academy Of Management Journal vol. 58 no.5, 2015, pp.1495-1515. Business Source Alumni Edition. (https://acproxy.ac.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bah&AN=110493102&site=eds-live&scope=site).

Diversity programs have been used in big business since the 1960’s, rooted with social justice philosophy, civil rights and recently business strategy. Everything being accounted, Harvard Business Review has been on the topic from the beginning finding the epicenter of when businesses started to pick up on diversity after a strand of high profile lawsuits shook the financial industry in the 1990’s and 2000’s. A race discrimination suit cost Bank of America nearly $160 million, similar cases costed Bank of America to approximately half a billion over a 15-year payout. These cases opened the eyes to many Wall Street firms who now require new hires to sign arbitration contracts agreeing to not join any class actions, leading to extended training and other diversity programs, but equality isn’t rocketing the financial services or other industries. Firms have used diversity
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