HRM Dynamics of Diversity: Business and Moral Case for Westpac Bank

This essay delves into the crucial connection between the business and moral justifications for managing diversity within organizations. It examines the challenges and impact of workplace diversity, emphasizing its significance for organizations. The essay introduces the concept of diversity and its importance, presenting both business and moral viewpoints. The analysis utilizes Westpac Banking Corporation as a case study, focusing on its diversity strategies, including inclusion initiatives and employee action groups. The essay demonstrates how Westpac effectively links the business case (e.g., attracting diverse talent, adapting to market changes) with the moral case (e.g., promoting equality, fairness, and inclusion) to achieve organizational success. The paper concludes by highlighting the importance of embedding a diverse workforce and the positive outcomes achieved by Westpac through its commitment to diversity and inclusion, such as fostering innovation and improving customer service. This essay shows how an organization like Westpac can establish a strong link between the business and moral case to maximize prosperity.

HRM- Dynamics of diversity management
TOPIC: Essay: Diversity management: the business case and the moral case
TASKS: Explain the linkages between the business case and moral case for managing
diversity in organisations. Support your key arguments by sourcing ‘diversity statements
disseminated/ publicised by an organisation to justify their claims for managing diversity.
The purpose of this essay is to enact that business case and moral case for diversity shares an
important and strong link between them. Managing workplace diversity has been a biggest
challenge for most of the organisations. The impact and challenges are discussed in various
journals and articles (Nassir, 2018; Pitts, 2005). The essay contributes to progress our
understanding about the effect of diverse people working together in natural workplace.
Essay introduces the readers about diversity as well its importance in an organisation. Further
the two views for diversity are demonstrated with the aspects of Westpac banking
corporation. Essay focuses on the three main aspects of Westpac towards diversity. Further
this essay will demonstrate how Westpac bank demonstrates diversity in their workplace in
different ways and establish a link between business and moral case for managing diversity.
As known, diversity and inclusion are two practical concerns in the workplace, organisations
tend to set a link between these two ways they manage the diversity: business case and moral
case. ‘Managing diversity’ presents a set of unique challenges for HR professionals. It is
important for the organisations to understand what constitutes workplace diversity in order to
cultivate more diverse and inclusive workplace (Eric Dyson, 2017). Different scholars
referred workplace diversity in different ways. Thomas (2011) referred it as differences and
similarities between behavioural traits, nature and demographics of the people working the
organisation. Parallel with the changes, the qualifications of workforce have been changes
with respect to diversity (Yasemin, 2011). There are many benefits of have a diverse
workplace. For starters, diverse recruiting process gives the organisation to choose people
larger pool of applicants which lead them in finding more qualified candidates. According to
the survey conducted by Glassdoor, 67 percent of job seekers said that diverse workforce is
important, and companies should be more diverse. The most important benefit of having
diverse workplace is increased employee and customer satisfaction (Eric Dyson, 2017).
Having diverse workforce can be an advantage to organisation by the promotion of effective
work report (Guillaume et al., 2013).
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HRM- Dynamics of diversity management
Since public sector used to regard diversity as social issue, the majority view was that
diversity policy would add value to organisation. Hence, the arguments that prompted
diversity became more commercial or business-like. This approach of diversity with
increased performance level across the organisation was known as ‘the business case for
diversity’ (Celik, 2015). But the concept of business case in diversity management has its
origin from private sector as it was unclear from public sector (Saniye & Gurkan 2017).
Trading and financing companies are the major organisations with the approach of business
case in diversity. Private organisations emphasise business case for diversity in terns of
economic motives while public sector views it in terms of organisation’s legitimacy (Celik,
2015). It tends to focus on making the best possible use of labour market resources for the
benefit of the organisation. Organisations which will recognise and reward the differences
will experience many commercial benefits (Windsor, 2006) which includes ability to respond
to diverse client base. Managers ensure that diversity contributes to the quality and public
image of the company. Business case in many sectors desire to establish a sustainable
relationship between the company and the shareholders. They acknowledge the differences in
employees irrespective of their ethnic backgrounds. This will eventually connect diverse
range of people in society. The business case also means that the firms can stand out as a
leader. Firms need to find a way to differentiate themselves from other major corporations.
One of the ways is to make tremendous efforts toward diversifying its workforce (Paul M et
al., 2017). Thomas (1996) believes that diversity immediately connects to ‘the bottom line.’
On the other side of coin, moral case for diversity looks into any type of discrimination the
workplace. It supports social responsibility towards society or consumers. This approach acts
to achieve equality and fairness and reflect to the differences in workplace (Noon, 2007). The
well-being of people is the fundamental principle of moral case for diversity (Dahanayake et
al, 2017). “Diversity refers to something beyond EEOC characteristics, it addresses the
notion of moral diversity” (David, 2009). It is giving equal chance every individual alongside
wiping off the unfair practices. David (2009) suggested it is very important incorporate moral
case of diversity into decision making structures and organisational cultures. It encourages
employees to raise moral concerns without any fear. Employees are free to give their
opinions whether they are right or wrong which creates a flexible environment. Many
companies are trying to incorporate moral of diversity by trainings, introducing educational
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HRM- Dynamics of diversity management
programmes and rewarding employees for their work. This way of managing diversity is the
easiest way achieving success in near future.
“When unique people work together, they deliver extraordinary results” (Westpac banking
corporation, 2018). Westpac banking corporation is one of the good examples of an
organisation which establishes a link between the business and moral case for managing
diversity. Westpac focuses on three aspects in terms of inclusion and diversity. It comprises
inclusion creates bright ideas, inclusion means everyone matters and inclusion inspire
actions (Westpac, 2018). The first aspect, inclusion for bright ideas focuses on creating
inclusive culture where they value the uniqueness of people and want this value to create a
competitive advantage. This shows how they are embedding business case through moral
case. They wanted to attract and develop diverse individuals to maximise the performance
and adapt to the market changes. They engage with the community at many levels to create a
sustainable future for the people. In their second aspect, inclusion means everyone matter,
Westpac value people of different gender, across different culture, of different generations,
with different needs (Westpac, 2018). Westpac was the first bank to have more than 50% of
women at the leadership role as well as to grand parental leave (Westpac, 2018). One of the
most important contribution of them is to equal gender pay due to which they were appointed
as the ambassador of the workplace gender equity agency (Westpac, 2018).
“Our people are as diverse as 12 million customers we serve and speak over 35 different
languages” (Westpac, 2018). This statement shows how culturally diverse the company is.
This also shows how much globally spread it is in terms of people and investment. So, this
shows a clear link between the moral and business case for diversity in the organisation.
Moving forward, Westpac have five different types of generation in their workforce. This
shows the richness of diverse skills, experience and knowledge they offer at different stages
in their career. They have taken many initiatives to promote this. One of which is partnership
with Sageco which helps to make plans for the employee’s future. They have regular
workshops for leaders to support the team they operate. They have made a hub for the people
named as ‘your experience, your future.’ This gives the amplifier to access the great amount
of resources which help them the most out of their career, finance and health. This shows the
moral duty that Westpac have towards their employees. Thinking in the aspect of business,
these resources will provide job satisfaction as well as comfortability to employees which is
an important part of business’s continuity. Westpac encourages youth who are seeking
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HRM- Dynamics of diversity management
leadership opportunities. Westpac has very unique vision statement for people saying, “we
want our employees and customers to fell included, valued and welcome when they come to
work or walk out of our office” (Westpac, 2018).
To further encourage strategies effectively and efficiently, Westpac promotes LGBTIQ
society through having those people as employees in their organisational as well as making
sure they are treated equally, and they feel included and valued. They are very supportive
towards people with disability and accessibility. They aim to innovate as the time pass as they
regularly review their progress. Third and last aspect of their strategy, inclusion inspires
action which demonstrates a workplace free from bias and discrimination. They believe that
each and every person has a role to pay in championing diversity and inclusion. “The mission
to create an inclusive work environment with diverse workplace is supported from the top
down in our business” (Westpac, 2018). The reason behind their success in achieving the
strategies they have made is the way they set the goals, prioritise initiatives and this help the
entire business accountable for creating the results they aimed for. To continue these
strategies effectively, Westpac has also created employee action groups (EAGs) which create
opportunities to have say and a part in advocating inclusion and diversity. Many other types
of groups are also formed like domestic and family violence, cultural diversity leadership,
brothers and sisters, GLOBAL and women of Westpac.
Keeping in mind the rapid changes taking place in banking sector, Westpac are working to
build future-ready workforce with culture focused on service and doing the right think
(Westpac, 2018). Their plans and strategies show how important is to embed diverse
workforce in the business. It is important companies start realising that inclusion and
diversity are together because it is the right thing and bring success at the end (Cohen 2017).
This idea is clearly well demonstrated by Westpac banking corporation. The business case for
diversity is furthered demonstrated by Westpac by providing extensive training, awareness
workshops and creative groups alongside workplace. Westpac have severe policies against
bias or any kind of discrimination. This way Westpac establish a link between the business
and moral case for diversity which have enable them to maximise the prosperity.
Embedding diversity in their workplace has helped Westpac in fostering innovation, supports
from people bringing in everyday to work and helping them deliver better service experiences
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for the customers. They recognise their women of influence through CEO awards programs
and gender equity agency. They believe that to deliver great customer satisfaction, they need
to have workforce that reflect diversity of community. To foster an inclusive leadership
culture, they encourage people in leader towards ILEAD. They have further developed
mature age and youth strategies through participation in programs tailoring to future
planning.
To conclude, this paper shows how it is important to embed diverse workforce in the
workplace as well as manage it too. It also shows how Westpac establishes a link between the
business and moral case for diversity in their organisation. The combination of two views for
diversity portrayed the diverse culture of Westpac as well as also points out its importance in
their organisation. Their true belief in diversity has stand them out in the world. Furthermost,
the strategies and participation in various programs by Westpac highlight how effectively
they have cultivated both the moral and business case for diversity in their work environment.
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101819825- Muskan Mahajan