67%(3)2 out of 3 people found this document helpful
This preview shows page 38 - 41 out of 57 pages.
diversity can lead to increased conﬂict among members in the short-term. Employees ofBarclays are given the opportunity to attend seminars occasionally to increase theirawareness of diversity, make them more questioning, knowing more aboutdiscrimination laws, and be able to see the benefits of, and value the differences in a38
diverse workforce. Also, the personnel of Barclays are trained in the development ofcommunication competency.4.3 Standard Chartered Bank4.3.1Advantages of managing a diverse workforce The diverse work force is beneficial since it creates fun and an enabling environment. Aworkplace full of diversity is also rich in the quality of work output made due todifferent mechanism and context of decision-making. Thus members are free to shareideas before reaching a concrete deliverable for the organization (Sonnenschein, 1997).Creativity is part of the diversity. Employees share widely in contingency to thedifferent cultural context they are aligned to. This is a huge favor experienced byStandard Chartered Bank.Due to the cultural differences, Standard Chartered Bank can attract and retainemployees. Although the process is deemed to skew towards the positive side, there arehowever cases where negative impacts are witnessed. The multicultural work force isviewed as either a good way or bad one depending on the personal attributes of a person.It is considered more or less attractive based on the ability of the organization to detect39
the level of absenteeism or turnover rates. The multicultural workforce, therefore, differsdepending on the environmental context (Sonnenschein, 1997).Standard Chartered Bank is praised for its ways of operations. It is employee canteredsince it keeps openness among the employees (Devine et al. 2007). The result of this is amanageable organization since employees have the audacity to ask questions andcontribute ideas thus a synergy is created in the operational workflow (Devine at al.,2007). Openness has provided a; leeway for easier problem-solving in the organizationsince members are free to air out grievances and contribute positively since there is anessence of inclusivity. The multi-cultural staffs can exponentially improve theproductivity in the work place. This is created by the sense of belong and the provideeach worker has. They feel obliged to the organization and therefore work hard to beequal to the task, thereby enhancing competence. Although productivity is increased,effectiveness and efficiency are not fully improved because the bank has to followprotocols of working with other partners to meet the needs of the clients, therefore, theappreciation does not fully roll back on the multicultural system involved in the set-up.The corporate profits are affected by the diverse workforce. The annual reports indicatethat there is a slight increase due to competence levels and diversity.