There is no doubt that the business world is changing rapidly and that many factors are also simultaneously interacting. Perhaps these factors are created by cultural diversity. The online dictionary source, http://en.wiktionary.org defines diversity in the social context as a business strategy encouraging differences in order to compete in a marketplace with a heterogeneous customer base. Diversity in the general population, the work force and the market place give many benefits for organizations. Global managers gain more knowledge on internal diversity in order to maximize the efficiency of their workforce and increase profit margins for their companies.
What is meant by the globalization of human capital? Is this inevitable as firms increase their global operations Globalization of human capital is where, human resources are sook after by companies from all over the world. Due to the increased demand for skills at a lower cost, companies will tend to look for employees to work in their premises from all over the world (Webforum, 2015). In this regard, since companies are extending their operations the entire world over, human capital globalization is inevitable since they will need to work with people from these countries for them to successfully exploit global markets. 2.
Efficient employee relations has become an increasingly important issue for employers, the inclusion of a diverse set of employee based functions has become progressively important for managers to consider as part of a wider overall organisational strategy. In recent times there has been a wide increase in aspects of employee involvement and participation throughout organisations. It has become evident that from further offering employees a ‘voice’ throughout a business; it can further lead on to concrete advantages for employers, employees and organisations as a whole. (Wilkinson, A., & Fay, C. 2011) As trade union membership continues to decline throughout the UK, employers attention has shifted on to forming individual relationships
Leaders in an organization should not ignore the substantial benefits of cultural diversity in the workplace, but maintained and value it to increase the organization’s reputation and productivity. The Advantages of Managing Cultural Diversity Cultural diversity can bring tangible benefits to an organization who is ready to foster, maintained, and value the difference in cultures. The marketplace is becoming more competitive, many business executives are expanding and developing new ideas, products and services beyond their usual culture or environment. A diverse workforce will help to understand the need and interest of another culture within and outside of the region. Thereby helping the company to expand globally, acquire more business opportunities, provide opportunities to create an excellent, diverse customer base and remain compe... ... middle of paper ... ...mployees how to work better with diverse boss or teammate, create cultural awareness and teaches cultural sensitivity.
Benefits of a Diverse Workforce There are a lot of different and unique people living in the U.S. today, so it is important for companies to support workforce diversity to be successful. There are many benefits for companies that support and uphold diversity within their business and a lot of companies could not survive without it. Creativeness Creativity is important to battle with competitors, in order for companies to have more to offer and bring more to the table for their customers; they need to have a wide range of opinions, thoughts, and ideas starting with their employees. Employees bring a lot of uniqueness and creativeness to a company. Employees is what keeps a company thriving and changing every day because they are the ones that are helping to achieve the best for the company and for the customers.
The recognition that diversity is a reality in the workforce has generated an enormous amount of activity over the years among leaders in business, government, and civil society alike (Thomas Kochan, 2003, p. 4). Diversity in the workplace ensures that all members of the workforce are working towards the common goals and mission of the organization. In a diverse workforce race and ethnic origin are an afterthought. "Our society is diverse and is becoming more so by the day. Society is at a critical point in history bec...
What should be remembered is that most companies will benefit from becoming registered to an ISO 9000 standard both in the short and long terms. In the short term, it will give companies a competitive edge because of the positive impact the quality assurance system will have on product/service quality, cost savings, access to markets, and overall efficiency of operations. In the longer term, ISO registration will increasingly become a requirement to do business in areas such as the European Community, as well as other vital markets. (www.xanedu.com). The global market becomes more competitive every day.
Managers and employees should know how to effectively communicate within the firm and with customers, vendors and international business partners. The cultures difference requires the managers and employees to have better culture adaptibility so that mutual understanding will be achieved and thus managing and penetrating the global marketplaces well. Also, most companies that have effective communication are successfully expanding beyond its domestic borders that viewed beneficial and profitable for them in long
Job Redesign and Workplace Rewards Assessment Organizations face massive challenges in attracting and retaining a high-quality and productive workforce. Companies are continually looking for new ways to keep their employees satisfied at all levels in order to harness greater productivity and ideas from people while keeping them motivated and happy. One real challenge examined earlier is the need to transform General Motors to be a much more productive and fully utilized organization by examining the hourly workforce. This is a great change from the traditional "us versus them" mentality of the past between management and the union. Intrinsic and extrinsic types of motivation have been widely studied and the understanding of each has led to great changes in how organizations run their businesses.
The increase of productivity of the firm can be gain because of the mixture of the workforce. When the people of all culture pull together towards achieving the goals, the firm can be success because of globalization and internationalization. Diversity in a workforce can diverse the customer base. It is happen from the contribution of specialist skills and cultural awareness from the staff. The staff that come from different country has different cultural backgroud so that a firm that do business globally can gain success because the staff can understand the customers needs and want in each country.