Answer 1. I opine that organizations are embracing diversity because it is an invaluable competitive asset. Having reduced individual differences, it fosters creativity, marketing opportunities, productivity, and business image. New attitudes are brought to the business by people of diverse cultural backgrounds. Different ideas on the table foster new processes and prompts the problem-solving. My perception is in sync with latest research findings.
Several research studies have linked diversity to enhanced financial performance, social harmony, and increased cognitive ability. A survey by Credit-Suisse Research Institute reported higher ROI for companies that had more women on board.
A recent study further links workplace diversity positively with CSR performance. Findings support the stakeholders' theory and affirm that a diverse firm can better handle the satisfactions of a diverse group of stakeholders.
Answer 2. First and the foremost, minorities as Latinos, African-Americans and women need to be conveyed and shown that the company imparts a suitable environment for them. The organization can publicize good practices as women events and minority initiatives along with its recruitment drive. Secondly, companies need to target universities with a high population of minorities to attract more of such talent.
Quite surprisingly, the most effective route to attract diverse talent is through existing employees. A survey revealed that around 71 percent of the companies reported that employee referrals assisted significantly in minority hires.
Answer 3. As communication is the key to training and development, it is imperative to pair an employee with the one who speaks both their language and English. It is on-the-job learning and monitoring that will make the diversity workable and manageable. In tandem, general diversity training should be provided to all employees so that they learn to recognize and respect mutual differences.
Secondly, women have different developmental needs. It is necessary to develop an inquiry-based training culture to encourage talented women to reach the top; this method has been shown to drive engagement and productivity across the business.
References
Credit-Suisse. (2012, August). Gender Diversity and Corporate Performance. Credit Suisse.
Foltos, L. (2014, June). The Secrets to Great Coaching.
Harjoto, M. (2015). Board Diversity and Corporate Social Responsibility. Journal of Business Ethics .
Werner, J., & DeSimore, R. (2009). Human Resource Development. Mason: Cengage Learning.
