Nov 06, 2015 12:40 AM EST
Meeting globalization, our nation has become diverse. And with it, comes the need for people to engage and communicate to different people and different culture which encompasses the globe.
People have come to realize that they are not living in a secluded village of like-minded and same cultured inhabitants but a part of a greater and more diverse global village with different mindsets and cultures.
Workplace diversity can be synonymous to the differences among each individual in the company. It encompasses educational backgrounds, gender or sexual orientation, race, ethnicity, religion, cognitive style and organizational structure.
In a study by McKinsey & Company, women in the workforce have accounted for a quarter of the current US GDP or 47%, an increase from 37% in the past 40 years. It substantiates the need and importance of diversity in the world economy.
Furthermore, the National Gay and Lesbian Chamber of Commerce reports that gay or transgender-owned businesses account for more than 5% of the US businesses or 1.4 million. From the data gathered by the US Census Bureau, people of color hold 22.1% of all US businesses while 28.8%3 are owned by women.
Diversity, according to the scholarly paper of Esty, defines it as the valuing, acknowledging, celebrating and accepting the differences of people with regards to race, sexuality, age, religious denomination and or societal status.
According to Stephen G. Butler, co-chair of the Business-Higher Education Forum, diversity has become a major catalyst that the United States has yet to be recognized. He also said that proper management and its effectiveness thereof is a key to improve productivity in the workplace.
Diversity and Benefits
In the paper of Green regarding diversity, they have listed three important benefits of diversity in the workplace.
An Increase in Productivity
Companies and organizations embracing effective diversity have reported an increase of productivity in its employees. It experienced a greater number of solutions when encountering a problem due to its employees having different viewpoints. It also reported a decrease in lawsuits, making the executives and its employees feel at ease with their jobs in fluctuating and competitive markets.
An Increase in Creativity
With a diverse pool of human resources, companies have been reported as being competitive among others, making them more profitable and will likely to enjoy success. Creativity from the employees has been shown to be the reason for the success through their different viewpoints and individual talents in the problem-solving scenarios.
Drives Forward the Economic Growth
The consolidation of individuals with different talents, backgrounds and status, companies and organizations has known to make a bigger share of the market because they can cater to different gender and racial backgrounds.
Diversity and its Challenges
Diversity is a difficult task that poses many challenges to foster an inclusive environment in the workplace. Because it is not easy managing a diverse workforce, company and organization executives must remove the barriers that hinder a smooth and productive diversity in the workplace.
They must plan and implement well-suited organizational rules and system of practices for productivity to be maximized. Ineffective communication leads to low morale, confusion and little to
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.
If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.
Journalists love their jobs because they get to interact with people from all sorts of backgrounds and expertises, then turn around and share their knowledge with the world.
As the metaverse takes over more of our digital lives, the commoditization of all aspects of our virtual beings becomes more and more of a reality.