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Effect of workforce diversity on employee performance
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In 2014 Novartis Pharmaceutical Corporation (NPC) took the first place on the DiversityInc Top 50 List (DiversityInc, 2014). More than twelve hundred companies participated in the annual survey, but only 50 companies were nominated. NPC, a company with more than eight thousand employees, was able to achieve this result because of creative initiatives and strong leadership support. Thus “the executive leadership team’s annual performance-management goals include a 20 percent weighting toward people-related objectives, which have specific diversity objectives”. Company has the Diversity & Inclusion department and the Executive Diversity & Inclusion Council. This department helped develop a strategic planning process and build diversity-training curriculum. Rhonda Crichlow, Vice President and U.S. Head of Diversity & Inclusion at NPC, says that “company believes that diverse backgrounds and experiences bring value in many ways, by helping us address the needs of patients and customers, enhancing immeasurably our work environment, and enabling all associates to contribute fully, maximize their potential, and ultimately succeed in meeting our business priorities”. Unfortunately EchoStar does not share the point of view of the DiversityInc Top 50 List winner, paying little attention to the issue of diversity. Measuring Impact According to the HR department, EchoStar has not been conducting any surveys related to diversity in the workplace for more than five years. The company does not have any statistics about minority and ethnical groups, and diversity is not mentioned in any annual reports provided to the employees or the public. For the company with more than four thousand employees such situation is unacceptable. This poor diversity... ... middle of paper ... ...wide diversity survey. Another proposal with the goal to attract new customers is for EchoStar to develop a completely new marketing strategy aimed at different demographic groups by airing targeted commercials. All these initiatives will attract more stakeholders, diversify customer base, and improve financial standing. Conclusion A diverse workforce is one of the greatest strength in a competitive global marketplace. EchoStar must be committed to fostering a culture that honors mutual respect and collaboration. After implementation of managing diversity initiatives Ortho Pharmaceuticals saved $500,000 from decreasing turnover rate among women and ethnical minorities (Taylor & Blake, 1991). This is a good example of how well developed diversity initiatives not only make employees feel appreciated and respected, but also positively impact financial bottom line.
Diversity in the retail marketplace is something that is significant to the company’s success. Retailers are comprised of people selling things to people. Thus, the people that do the selling must be a good representation of the people that are doing the buying. Companies that are well diversified in their hiring practices, as well as organizational goals, are well recognized by the public. Likewise, companies that are unjust in the functioning of their company will be viewed in a negative light, which could lead to decreased sales and company accountability. Taking this into consideration, observing the diversity profiles for two major retail companies can lead to a firm understanding behind their success and company values.
In the fast-paced, global economy that is so prevalent today, organizations will always need managers, for they are the proverbial squeaky wheel keeping their company functional. Thompson (2015) described management as a necessary function in any business; however, when people are the focus, leadership exercises the most influence on the success of an organization. The value of a true leader is most apparent when the inevitable conflicts and misunderstandings arise in today’s diverse healthcare workplaces. Certainly, diversity can lead to tremendous innovation in all industries as skills from various demographic populations and ethnic groups bring unique ideas to a team. However, diversity can also lead to misunderstandings
The healthcare workforce is suffering critically due to its lack in diversity. As healthcare organizations are growing and the number of patients is increasing, so is the diversity of the patients. There are more minority patients are the number of minorities increase in the United States. The need for minority employees is crucial in that they are needed to help assist patients who have the similar cultural, racial, and ethnic upbringings. There are many barriers in healthcare workforce that are keeping minorities from reaching their full potential to become employees in healthcare, particularly upper-level leadership positions; as patients continue to become more diverse, so does the need of employees.
In many companies, employees feel diversity ix not an organizational priority. Diversity has to be apart of...
According to Andrews and Boyle (2016), having a diverse workforce provides a greater satisfaction among employees, which will result in higher retention of employees as well. By hiring a diverse culture within an organization this increases a workplaces economy and becomes a culturally competent organization. Otherwise, a high turnover can be very costly to an organization and the functionality can decrease. Many organizations have developed policies to help recruit and retain people from different backgrounds. When employees feel that they are valued because of their diversity, the employees will feel protected from discrimination, feel that there is room for advancement within the company, and increase employment retention (Kaplan, Wiley, & Maertz, 2011). With the increase of minorities across the nation, having diversity in nurses and healthcare workers to accommodate this diversity also improves the quality of care to the patients while also increasing their health outcomes and satisfaction (Ayoola, 2013). We have learned in the previous weeks that being able to communicate with our patient’s and understanding their culture can positively increase the outcome of the health. Having a diverse staff will also help establish trust and make them feel at ease. However, there can be barriers to having a diverse culture in the
This document will explore what a company can do to foster diversity in the workplace. The business case highlights the development and implementation of organizational initiatives that could:
The foundation for developing an effective diversity management program relies on leadership commitment and the CEO should communicate the organization’s position on diversity management and his or her sincere belief in the importance of diversity (Cañas & Sondak, 2010). Indra Nooyi, the current Chairman and CEO of PepsiCo, is a leader who demonstrates a strong passion for managing diversity. In this paper I will be discussing Indra Nooyi’s personal and professional background, the status of diversity within PepsiCo before her role as CEO, the leadership philosophy on managing diversity Indra Nooyi has taken, the strategies she has used to implement diversity management, and her diversity related goals. I will conclude with a discussion on the current status of PepsiCo in terms of diversity, their future diversity goals and how Nooyi’s diversity management efforts have affected the overall success of the company as a whole.
Many organizations receive benefits, from the government, for being culturally diverse. For example, organizations that follow the government guidelines are given new technology and more resources to better the community health. If a healthcare organization isn’t culturally diverse, it can harm the organization’s incentives and raise concerns on diversity and inequality from the community.
Diversity is a highly important issue in today’s business, especially in a globalized company. Workplace diversity helps to get better solutions to business problems (Schawbel, 2012). When you have a group of individ...
The original case was about Chiron, a biotechnology company, in the United States. Chiron was acquired in 2006 by Novartis, a Swedish company formed by the merger of Ciba-Geigy and Sandoz Laborites. Since Chiron itself no longer exists, we have focused our case around Novartis as of 2013. Novartis specializes in diagnostic services, generic and name brand medications, ophthalmological tools, as well as a small segment in pet health. The business prides itself in producing the latest drugs, hiring the best talent, and being a global leader in the pharmaceutical industry. Over the years the company has survived by focusing on its internal development in addition to a series of mergers, acquisitions, and corporate restructurings. Being a pharmaceutical company, the entire population is impacted: patients, physicians, employees, hospitals, and investors are some of the most important stakeholders.
In a world that has grown increasingly smaller due to mass media, world travel, and readily available information, the workplace has grown increasingly diverse in both gender and cultural aspects. Individuals no longer live and work within the confines of their geographic locations. At almost any position with any company the individual employee is a part of a larger world economy that harvests assets from the ends of the earth. Because of this, companies seek to capitalize on diversity to become more creative and flexible in their business models.
Diversity within a company will benefit the company’s bottom line and help the company to keep the competitive edge (McCuiston, et. al., 2004). Improving the bottom line can be also be improved by retaining employees and improving customer service (McCuiston, et. al., 2004). So utilizing a diverse work group is very rewarding for the companies who implemented it correctly. The profitability that the company will see may not be seen on the front end, but the long term results will yield a better profit for the company by helping to reduce turnover rates, improving employee morale, and the recruitment of new
The researcher believes, in this fast-changing era, any kind of company or organization should be able to improve the quality of workplace diversity by having some important main factor to boost the new paradigm of a diverse workplace, such as:
Diversity is all around us and how organizations deal with the notion of diversity can be complex and quite diverse. We know that being diverse in the workplace is important to the organization's success, should be recognized, accepted, and embraced. It’s how the organizations live up to what they believe in and must go above and beyond legal compliance and requirements to promoting diversity and inclusion. Otherwise, employees may view the organization's vision and policies as lip service and only be tolerant of diversity because the organization said so.
The importance of diversity in the workplace that it can aid in a competitive framework