Analyzing the Advantages of Diversity in Today's Global Business World

This essay explores the advantages of workforce diversity in a contemporary global business environment. It highlights how diversity, encompassing national origin, religion, age, and gender, fosters an encouraging environment for employees and offers various benefits such as diverse perspectives in decision-making, increased creativity, faster problem-solving, and enhanced profitability. The essay further discusses how diversification leads to higher employee engagement, improved company reputation, a better workplace environment, reduced employee turnover, efficient decision-making, a diversified range of skills, a better understanding of consumers, improved cultural awareness, and increased market opportunities. It emphasizes that companies can improve work diversity by hiring candidates based on skills and knowledge, creating friendly working environments, and conducting team-building activities. Ultimately, the essay concludes that a diversified workforce is essential for company growth and expansion, providing stakeholders with confidence and employees with opportunities for learning and cultural exchange.

Contemporary society in a global
world
Diversity in business environment
Introduction
Diversity is stated that employing people
in an organization with different
background. Moreover, diversification is
depended on the national origin, religion,
age, gender etc. This will create
encouraging environment for the
employees. It has various advantage in
terms of social networking, profitability,
cultural adoption etc.
Diversification meaning and concept
Diversification plays crucial role in the
organization success. It can be done on the
basis on age, gender, culture, religion etc.
Company employed their workforce on the
basis of their skill and specialization in
which person is good in. Moreover,
diversification in workforce helps to attain
the company's and their employees’ goal
together (Hopf And et.al., 2021).
Employee’s goal can be achieved by
leaning new culture and skills, different
way of thinking etc. Company can attain
the goal in term of productivity,
profitability and cost minimization,
decision-making etc. In addition to this,
diversified working environment helps in
overall growth of the business
environment.
Advantage of work diversity
Different perspective: management get
different perspective which helps while
taking Decision. It is because, while taking
any decision it is required to think in all
aspect which cannot be done by single or
similar person (Mann and Besser, 2017).
Therefore, diversification is necessary.
Increase the creativity
Different people have different mindset
and ideas. This will help the management
to implement different through or idea in
order to get success of an organization.
Moreover, company can get new way of
doing the same work by work place
diversification.
Faster problem solving
Due to large diversification, company can
take different ideas from the large
workforce to solve the single problem
(Rezsek, M., 2019). This will help to
determine which option is suitable and
easily to adopt.
Increasing profitability
Diversification helps to increase the profit
by implementing different ideas and
through. Due to the work place
diversification, company can adopt
different techniques and methods to
increase the profit. Moreover, diverse
workforce can take better and faster
decision for the growth of the company.
Higher employees’ engagement
Everyone wants to grow itself by learning
new things through other and the
environment (Jenčo and et.al., 2018). Due
to the diversification employees can learn
new things and pursue self-growth. This
will give the chance to engage and make
new relationship with the others.

Better company reputation
Company can promote the diversified
workforce which helps to improve
productivity and the company's growth in
the market. This will create a positive
image in the society.
Improved the work place environmental
Due to the diversification, company can
improve their working environment. It is
because everyone has different knowledge
and skill which helps to get engaged and
learn from the others (Foster and Jacobs,
2017). Due to this, employees get
encouraging and comfortable working
environment. Which automatically
increases the productivity of company.
Reduced employees’ turnover
Due to diversification, company develop
acceptable and valuable working
environment where employees feel
accepted and valued. Moreover, company
can increase their profit and productivity.
Efficient decision making
Due to the large-scale diversification
company can take the point of view of all
the employees which helps to think in 360
degrees (positive and negatives of all the
resources available). So that accurate and
efficient decision can be made in order to
increase the profit.
Diversified range of skill
Due to the work place diversification,
company can get higher and different
talent for the meeting the requirement of
the task (Schouten, Khattab and Pahng,
2020). Various skill helps to reduce the
cost, increase the learning attitude,
minimize the time for taking decision.
Understand the consumer in better way
Due to the high range of diversification,
company get various ideas to understand
the consumer needs and wants. Moreover,
this will help to address the market with
diversified workforce. This will make
easily to understand company's target
audience.
Improve the cultural awareness
A diversified range of workforce in the
company helps to make their aware about
the different culture which helps to
maintain the social networks in the market
place. Moreover, company can also take an
advantage to deal with the different
consumer.
Increase the market opportunity
Company gets confidence if it has
diversified workforce while taking the
decision related to the expansion, new
product line. It is because, if company is
planning to expand in the different country
this will give one positive point
(diversified work force) in the growth of
company.
More talent to choose from
Human resource management has high
opportunity to select the best one out of the
available candidates. Moreover, it is not
about the select the certain types but
emphasis on skills which are required to
achieve business objective.
Better working environment
Company creates an environment where
employees represented their culture,
background and different way of thinking.
This will help the company to see new
perspective of solving the problem.
Improve the team work activity
All person who are working in the
company have different knowledge and
skills. When all the employees work
together than the company goal can be
easily achieved. It is because leader
divided the task on the basis of their
specialization this will reduce the time and
increase the productivity.

How company can improve
diversification
Company can improve the work
diversity by taking interest to create such
environment which encourage or motivate
people. In addition to this, business can
hire candidates on the basis of their skills
and knowledge not by their religion and
culture. This will help to make efficient
diversification to attain the business
objective. Further, by creating friendly
working environment where everyone
feels comfortable to share their experience
and knowledge in order to make informed
decision. In addition to this, company can
enhance their work diversification by
conducting team work activity to get
familiar with each other, training and
development programme, motivation,
reward and recognition to encourage for
accepting different culture etc.
Conclusion
Diversified workforce is essential element
in the company to grow and expand in the
new market. Moreover, stakeholder get
confidence while evaluating the internal
factors of the company. Further,
employees also get satisfied because of it
get a chance to learn different culture and
attitude.
References
Hopf, S.C. And et.al., 2021. Advancing
Workplace Diversity Through the
Culturally Responsive Teamwork
Framework. American Journal of Speech-
Language Pathology. 30(5). pp.1949-
1961.
Mann, S. and Besser, T., 2017.
Diversification and Work Satisfaction:
Testing a Claim by Marx and Engels for
Farmers. Rural Sociology. 82(2). pp.349-
362.
Rezsek, M., 2019. Crop Diversification for
Asparagus in the Pannonian Pedoclimatic
Region: Opportunities and
Constraints. Agricultural Research &
Technology: Open Access Journal. 23(2).
pp.250-252.
Jenčo, M. and et.al., 2018. Assessing the
Quality of Employees in Terms of their
Resistance. Calitatea. 19(167). pp.48-53.
Foster, L. and Jacobs, L., 2017. Inclusive
Workplace Practice in Canada: Competing
Equalities in an Industrial-Mobile Society.
Schouten, M., Khattab, J. and Pahng, P.,
2020. Managing Team Diversity in the
Workplace. In Oxford Research
Encyclopedia of Business and
Management.
Online reference
What are the 4 Types of Diversity in the
Workplace?, 2021. [online]. Available
through:<https://ideal.com/types-of-
diversity-in-the-workplace/>