DIVERSITY IN THE WORKPLACE

Recognizing the Impact of Diversity in the Workplace



Recognizing the Impact of Diversity in the Workplace

Introduction

The world has become a global village and multinational organizations are more emphasizing on expanding their business in almost all the developed countries and developing countries in order to get into those markets, and build up their strong portfolios. Therefore, in this situation, the significance of workforce diversity cannot be overlooked. Today, in the 21st century, the world has plunged into a broad range of demographic look, having the capability to quickly transform the demographic, ethical and cultural combination of the population in a lot of countries in few decades. Most of the managers in the organizations are determined about their employees that they are the most essential part and asset of their company. Those companies are the winner in the global economy as well as in the job market, who position their people at first place, irrespective of their physical disability, age, gender, race and religion.

Discussion

Organization, most significantly the banking industry, which has to cope up with these things and changes, are progressively encouraged to respond. Employees who are in a consistent and synchronized group, in several countries, are increasingly different and require to be incorporated into and within working environments. Diversity can offer enormous sources of chances and opportunities, but it can also be the source of a big threat.

The augmented mobility and communication of people who are from different backgrounds as an outcome of developed political and economic systems and the identification of human rights by all the nations has drawn pressure on most organizations in order to encourage and accept the diversity at workplace (Hofstede, 1994). Heterogeneity comes up with the diversity that requires be cherishing, appreciating and taking care of in terms of alleviating effectiveness of the organization in the competitive world.

Cultural Issues

The matter of workforce diversity was not a major issue in the world as it has become now. The main idea of the diversity management attained consideration with globalization and the requirement for a number of organizations to expand globally to outreach customers around the world. It is essential to understand the need of workforce diversity, which is far more inherent than what we actually see on the level. This will enable managers an overall understanding as to what is going wrong in a diverse tem.

The banking industry, more than ever, is faced today ...