diversity 2018 Spring notes (1).doc - Chapter 2 Managing...

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Chapter 2Managing Workforce Diversity“Diversity Management is the key to growth in today’s fiercely competitive global marketplace”“Its all about talent…”G Llopis, Forbes, 2011“If you do not intentionally include, you unintentionally exclude”Neil Lenane, Progressive Insurance67% job seekers say a diverse workforce is an important factor when evaluating company and joboffers…Minorities value diversity even more than the average. 57% think their firm should be doingmore to increase diversity.Glassdoor, 2014“Moving from creating a workplace inclusive of race, gender and sexual orientation (to name a few),many organizations are seeking value in something even simpler,diversity of thought.” Selena Rezvani,2015, ForbesRecent study by McKinsey/LeanIn.org (2017) found 85% of firms track women at each level of thehierarchy and ~1/3rdset goals for women occupants in senior roles/key operations. However, only 40%of the 1/3rd(i.e., ~13%) actually hold top leaders accountable for how well they meet those goals.Diverse employees are 3 times more likely to leave companies because they don’t feel part of theorganization, valued, have opportunities for advancement or the feel cultural barriers exist.A recent survey of Human Resource managers of Fortune 100 companies found the top 5 reasons for engagingin managing diversity to be:1.Better utilization of talent2.increased marketplace understanding--more customers/increased sales revenue – “minorities” now majorityin 6 of 8 largest metropolitan areas of the US, women are the primary investors in morethan half of US households.3.enhanced breadth of understanding in leadership positions4.enhanced creativity5.increased quality of team problem-solving.Yet, while more than 75% of the largest companies in America have diversity directors or managers, few ofthese directors are required to justify their programs/initiatives by their impact upon the company's bottom line.That is, there is little evidence supporting the efficacy of most diversity initiatives.Recent survey of Fortune 1000 indicates that ~20% have only informal diversity efforts and 41% say thereason is that they’re “too busy.” SHRM 2015Skill shortages in a wide variety of positions and across many different skills can be managed to somedegree by tapping into undervalued/underutilize groups—immigrants, youth, mature workers, US-born“visible minorities,”people with disabilitiesDiversity as a Strategic InitiativeMany diversity initiatives are initiated due to legal requirements or other pressures for "compliance"rather than as a "strategic initiative" necessary for the long run competitive stance of the organization (e.g., like
TQM).Thus, most examples of "successful" diversity initiatives are of relatively short term duration, with littleevidence of short-term benefit and few attempts to assess efficacy.

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Term
Fall
Professor
N/A
Tags
Management, Discrimination, Diversity Best Practices

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