Value Of Diversity And Multiculturalism In Business

Diversity is a wonderful asset to an organization and brings with it many benefits. Employees bring in their own personal experiences and knowledge to the team (Burns & Kerby, 2012). Having diverse teams allows for the possibility to fix a problem or perfect a process by using different employee’s experiences and past knowledge to find solutions. A diverse workforce can drive economic growth and capture a greater share of the consumer market (Burns & Kerby, 2012). With diversity as a core value, the recruitment pool is widened to find the most qualified candidate and reduces employee turnover as a result. An organization can be highly competitive with a diversity initiative by adapting to a changing environment (Burns & Kerby, 2012).

Diversity is vital in today's workplace. Having a diverse workforce opens up a wealth of possibilities and helps to encourage creativity and innovation.

Regardless of how diversity is defined, it is an issue that is sweeping the nation. By the 21st century, racial and ethnic minorities will constitute 25% of the U.S. population, affecting the makeup of the U.S. labor force (7). By the year 2000, women will constitute 47% of the total workforce and the average age of the workforce is expected to increase from 36 in 1986 to age 39 (7). If the corporate society does not address the issue by learning how to manage diversity, they will fail.

economic growth, (2) a diverse workforce can capture a greater share of the consumer market, (3) recruiting from a diverse pool of candidates means a more qualified workforce, (4) a diverse and inclusive workforce helps businesses avoid employee turnover costs, (5) diversity fosters a more creative and innovative workforce, (6) businesses need to adapt to our changing nation to be competitive in the economic market, (7) diversity is a key aspect of entrepreneurialism, (8) diversity in business ownership, particularly among women of color, is key to moving our economy forward, (9) diversity in the workplace is necessary to create a competitive economy in a globalized world, and (10) diversity in the boardroom is needed to leverage a company’s full potential.

When looking at diversity in the workplace, many people and companies encourage it. “Cultural diversity has become a defining characteristic of an increasing number of societies” (“Consequences of Cultural diversity” this should be the author and the date). They feel that it is a great thing to have diversity in the workplace, however, what some companies do not think about is the negative effects of having too much diversity in the workplace. “A workforce that has significant differences in ethnicity, race, religion, gender and other individual traits can produce negative effects, especially if not well-managed. These negative effects of diversity are understandable if the work culture does not support tolerance and acceptance of

With the data from the Leading With Intent survey it is difficult to refute the diversity gap, but why does it matter? There is a positive correlation between diverse workplaces and employee engagement; increased productivity, company morale, and higher retention rates. When employees are engaged they are more likely to feel personally invested in the success of the organization. There is also evidence that diverse groups arrive at more creative solutions than

Diversity is what makes people different, not just culturally but in human differences. Having a multitude of differences in the workforce gives an organization the ability to use many ideas to reach a common goal. A person could say that a diverse group of people together in one room can accomplish greater achievements than a room filled with the same types of individuals. Managers understand the concept of diversity, and how important diversity is to the success of a company’s ability to implement programs that continue to develop a harmonious and diverse workplace. The recognition that diversity is a reality in the workforce has generated an enormous amount of activity over the years among leaders in business, government, and civil

As technology continue to refine how products and services are delivered to consumers, competition among industry participants becomes more refined. Organizations that are able to keep up with changing technologies become leaders while those that are not fall behind. Mergers and acquisitions are increasing while causing small businesses to sell out or seek partnerships and cooperatives in order to remain competitive and relevant.

The United States is one of the most diverse nations on the earth, originally conceived so, and often described as a great melting pot, as “all nations are melted into a new race of man, whose labours and posterity will one day cause great changes in the world” (St. John de Crèvecoeur, 1782). Yet, despite the country’s diverse population, the workplace remains a place of inequality as women and minorities continue to earn less than their white male counterparts (U.S. Bureau of Labor Statistics, 2011; U.S. Census Bureau, 2009) and advance less in managerial and professional positions (Kinicki & Kreitner, 2008). The question of workplace diversity is a polarizing debate with proponents of diversity measures arguing the business benefit of

What does Diversity and Multiculturalism mean to me? I believe that diversity has become so much more than just the basic qualities of race or gender. It now includes all qualities that make everyone unique, as individuals or as part of a larger group. It is also the acceptance, respect, and understanding of these unique qualities that makes diversity work in a given society. Multiculturalism is the system that is centered around the respect for and the promotion of ethnic and or gender diversity in the society. Multiculturalism is the status of several different ethnic, racial, religious or cultural groups co-existing in the same society. Today, in the U.S. we already

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)

America's past should teach America's today that success lies within diversity. In order to achieve ultimate success, diversity is a necessity. Workforce diversity is a fact of organizational life. It is also a key concern for theory and practice in organizational behavior ( van-Knippenberg, De-Dreu, Homan, 2004).

The first thing to acknowledge about diversity is that it can be difficult. In the U.S., where the dialogue of inclusion is relatively advanced, even the mention of the word “diversity” can lead to anxiety and conflict. Supreme Court justices disagree on the virtues of diversity and the means for achieving it. Corporations spend billions of dollars to attract and manage diversity both internally and externally, yet they still face discrimination lawsuits, and the leadership ranks of the business world remain predominantly white and male.

From our research, we identified three different perspectives on workforce diversity that people embrace, each with different implications for a work group’s ability to realize the benefits of its cultural diversity. We use these observations here to examine critically some of the themes and basic assumptions of previous research and to propose new directions for both researchers and practitioners interested in diversity (Ely &Thomas, 2001). When organizations have a diverse economy, it makes the company strong. Once our nation has embrace the changes from the demographics that reap the economic benefits of a diverse and inclusive workforce. Burns et al. (2012) stated in their investigation that:

With the changing demographics of the U.S. workforce (Ng & Burke, 2005) and the need for organizations to continually innovate their products and services to remain competitive, embracing diversity and the benefits its brings is going to be key to driving a successful organization