Diversity Management Strategies in Organizations
Added on 2020-06-06
12 Pages3298 Words34 Views
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Personal ManagerialEffectiveness1
EXECUTIVE SUMMARYSince from last few years, the increasing number of mergers, joint ventures and strategicalliances is bringing people from distinct cultures and types of organizations together. The resultof this is that in now management has become more concern related to managing diversity in theworkplace. Diversity can be related to different factors such as education, gender, race, culture,age etc. Workplace diversity is referring to working of different cultural background people worktogether in a firm. The present report is based on investigating the challenges faced by theStandard chartered bank while managing a diverse workforce. In Standard chartered bank, thereare diverse culture people work together to accomplish goals and make company profitable. Thepresent report has aimed to explore the challenges faced by an undertaken banking organisationnamed Standard chartered bank while managing diverse workforce.2
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4LITERATURE REVIEW................................................................................................................4DISCUSSION AND ANALYSIS...................................................................................................7CONCLUSION................................................................................................................................9RECOMMENDATIONS...............................................................................................................10REFERENCES..............................................................................................................................113
INTRODUCTIONIn an organisation when different cultural people work together with it becomes tough forthe company to manage. There are various types of issues and challenges which can be facedcompany due to diversity (Kirton and Greene, 2017). Diversity management is considered as aprocess through which management can easily maintain and create a positive workingenvironment, where all individual difference and similarity is valued. This aim is furthersupported by some well-defined objectives to understand the importance of diverse workforcewithin the firm. Next is to identify the issues and challenges faced by Standard chartered bankwhile managing diverse workforce. This will be followed by the identification of strategies toovercome the challenges faced by Standard chartered bank while managing diverse workforce.LITERATURE REVIEWAccording to the view of Lee, (2016) workforce diversity has come to play a central rolein the organisation because of increase in complexity in the job, increase in globalization andgrowing technology. Cultural diversity takes place within the firm at the time when a companyhires a large number of employees from a different background race, gender, religion etc. Adiverse workforce provides a lot of benefit to the company. However, it is important to managediversity to get benefits. Workplace diversity play a significant role within the firm. It leads tofoster mutual respect among employees and motivate group working. Along with this whendifferent background people work together then it provides innovative ideas which help ingrowth and development of the firm. Employees with different background and experience leadto bring together several perspectives which help in evoking alternative solutions for the issuesor topic. If management, well managed diverse workforce then it strength best inside of everyindividual can be connected to enhanced productivity and deliver better results.According to the view of Anwar, (2015), diversity in the workplace is essential because ithelps in manifesting itself in order to build a reputation of the firm. It is also essential within thefirm and outside for increase companies and survive in a competitive market. Apart from this ifdiverse employees work together in a team then it helps to gain new knowledge and developedskills. They learn from each other different way of working and complete the task in an effectivemanner. Diverse workforce not only benefits firm but also help in improving companyperformance and develop an environment in which employees learn new skills and can easily4
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