Everything about Diversity Business totally explained
The "business case for
diversity", theorizes that in a
global marketplace, a company that employs a diverse workforce (both men and women, people of many generations, people from ethnically and racially diverse backgrounds etc.) is better able to understand the
demographics of the marketplace it serves and is thus better equipped to thrive in that
marketplace than a
company that has a more limited range of employee demographics.
An additional corollary suggests that a company that supports the diversity of its workforce can also improve
employee satisfaction, productivity and retention. This portion of the
business case, often referred to as
inclusion, relates to how an organization utilizes its various relevant diversities. If a workforce is diverse, but the employer takes little or no advantage of that breadth of that experience, then it can't monetize whatever benefits background diversity might offer.
US employers are prohibited by federal and state laws from giving race or ethnicity any consideration in hiring or assigning employees, no matter what the purported profit motive for doing so.
Implementation
Diversity issues change over time, depending on local historical and dynamic conditions. Overt "diversity programs" are usually limited to large employers, government agencies and businesses facing rapid demographic changes in their local labor pool and help people work and understand each other. The implementation of diversity is often limited to the
Human resources department when there's also a good economic case for
UK companies to use it as a tool to reach new
market shares. See
an extra marketing tool
Diversity and Legal Frameworks
US anti-discrimination laws prohibit employers giving any consideration to customers’ preferences for being served by employees of a given gender, ethnic group, or color. In general, the laws also prevent consideration based on religion, although the law allows major exceptions of this provision for religious organizations. Many countries are also introducing
anti-discrimination laws (for example the
DDA in the UK) forcing companies to be more aware of diversity. The law student organization
Building a Better Legal Profession generated significant controversy in October 2007 for reporting data suggesting that most private law firms themselves lacked demographic diversity.
Further Information
Get more info on 'Diversity Business'.
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