Report: Commonwealth Bank's Diversity Initiatives and Critique

This report provides an overview of the Commonwealth Bank (CBA), highlighting its establishment and services. It then delves into the bank's diversity initiatives, including the LGBTI network, unity initiatives, and accessibility plans, emphasizing their goals of fostering inclusion and equity. The report critiques these initiatives, acknowledging their positive impacts while also offering recommendations for improvement, such as increasing cultural diversity to enhance creativity, employee engagement, and overall organizational reputation. The analysis references various sources to support its findings and suggestions, aiming to improve the bank's approach to diversity and inclusion.

CULTURAL DIVERSITY

Overview of Commonwealth bank
 The Commonwealth bank is the largest retail bank.
 In 1911, it is established by the commonwealth bank act.
 This was the bank that receive the federal government guarantee.
 It also offers the services to individuals that plan to move in Australia.
 Commonwealth bank of Australia has the business of both savings and
general bank.
 It offers the banking services online by NetBank. This allows
consumers to transfer funds, liabilities, access assets, manage
accounts, manage objectives, and savings (Commonwealth bank,
2016).

Overview of Commonwealth bank
 Commonwealth bank of Australia is a multinational bank of
Australia.
 It is the biggest listed organization in Australian securities
exchange.
 Commonwealth bank is a leader to provide the integrated financial
services.
 This organization provides the many financial services like
institutional banking, broking, insurance, fund management,
premium banking, retail banking, and investment
(Commonwealth Bank, 2018).

Diversity initiatives
 LGBTI network of employee empower individual to bring entire
selves to complete every day work – regardless gender identity or
expression, and sexual orientation.
 It help to encourage people and balance their work.
 Unity initiatives drive awareness, behavioral changes, and
engagement that support to achieve recognition.
 Flexible working within the organization enhance the individual
performance and wellbeing (Wilson, 2014).

Diversity initiatives
 Plan of accessibility and inclusion outlines the steps to improve
access for customers, people and communities.
 Accessibility for everyone is a provision regarding equity and help
the people with the disability that is part of integral and culture
diversity initiative.
 Organization proud to its cultural diversity and committing to
foster the great economic, financial, and social equity.
 It has taken the initiative to secure more better outcome for whole
communities (hite, & Rice, 2015).

Critique on the diversity initiatives
 Organization with its frame, references, and perspective shapes the
unique experiences for employees and customers.
 Cultural diversity initiatives of Commonwealth bank acknowledge
difference and include the inclusion efforts.
 Initiatives of the organization provides the better understanding
about the customers and communities to unlock greater engagement,
increase invention, and better management of risk.
 Commonwealth bank has the objective to recognized the authentic
leader in the cultural diversity that will ensure customers and
employees are within the center to complete work more
appropriately (Banks, 2014).

Critique on the diversity initiatives
 It will bring the different benefits for the Commonwealth bank and
employees.
 Organization has become more diverse regarding the different
languages, cultures, and beliefs.
 Employees within the organization become more capable to learn from
experience and apply more knowledge to work.
 Organization through the cultural diversity initiative become more
capable to hire employees from all kind of background regardless of
culture, religion, and race.
 Organization is consistent with the dominant positive effect regarding
diversity on productivity.

Recommendations regarding
diversity
 Cultural diversity within the Commonwealth bank will increase the
creativity between the teams with the capability to have the more
diverse set of solutions to particular issues.
 Commonwealth bank with the creativity and consistency will
become more capable to show the value of exposing to experience
many perspectives and world views.
 It should encourage the more culture diversity initiatives to inspire
all employees to perform with the highest capabilities.
 It should increase the business dealing to invite more capable person
and maintain the portfolio of work to achieve set targets
(Fernández, & Langhout, 2014).

Recommendation regarding
diversity
 Cultural diversity will improve the engagement of employee with
the personal experience and motivation.
 Cultural diversity within the workplace will entice the broader pool
of employees regarding vacancies of job.
 Cultural diversity with the positivity will encourage organization to
gain the reputation for being an effective employer.
 Program of culture diversity initiatives should reduce the negative
emotions like homophobia, racism, and sexism (Kottak, 2015).

References
 Wilson, E., 2014. Diversity, culture and the glass ceiling. Journal of Cultural Diversity, 21(3), p.83.
 White, H.L. and Rice, M.F., 2015. The multiple dimensions of diversity and culture. In Diversity and
public administration (pp. 11-31). Routledge.
 Kottak, C.P., 2015. Cultural anthropology: Appreciating cultural diversity. McGraw-Hill Education.
 Fernández, J.S. and Langhout, R.D., 2014. “A community with diversity of culture, wealth, resources,
and living experiences”: Defining neighborhood in an unincorporated community. American journal of
community psychology, 53(1-2), pp.122-133.
 Banks, J.A., 2014. Diversity, group identity, and citizenship education in a global age. Journal of
Education, 194(3), pp.1-12.
 Commonwealth bank, 2016. Commbank. [Online]
Available at: https://www.commbank.com.au/about-us/opportunity-initiatives/opportunity-from-good-
business-practice/commitment-to-diversity.html
[Accessed 27 01 2020].
 Commonwealth Bank, 2018. Cultural initiative. [Online]
Available at: https://www.commbank.com.au/content/shared/careers/championing-diversity---
inclusion.html
[Accessed 27 01 2020].