Managing Workforce Diversity Bringing Benefits To Organizations Business Essay

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The globalization nowadays is changing in a rapid mobility and its impact has brought numerous challenging tasks for every organization to be able to maintain their survival in the changing world economy. In order to become successful organizations, the most responsible people are considered to be the "Managers" of those particular organizations, who are performing the most important task of all - known as "Management". Manages must be able to manage and organize different diverse groups or working teams towards the achievement of an organizational goal (Lewis et al, 2007). The finite goal in the past centuries was as simple as making profit by selling good products or services and it used to be the common goal for almost all of the organizations or businesses. Thus, managers from past centuries had to focus on not many goals- but making organizational profit and increase in sales. Unlike them, the 21st century managers are now facing with infinite goals- where they are needed to be performing many additional tasks and several challenges that are more likely to have risks.

Basically, the most significant difference between the past and present tasks of the organizational managers is considered to be the role of "Management" (according to the organizational or environmental changes/ impacts) where managers nowadays have to perform several tasks - more than just ordinary organizational goals. In order to create an achieving environment, managers should adapt the most appropriate management system within the organization. One of the most important global challenges for the mangers nowadays is the successful management of increased diversity in the workforce (Michelle E. Mor Barak , 2011). Due to the impact of globalization, organizations nowadays have implemented diversity in workforce which is difficult to be controlled correctly and thus it has brought a huge responsibility for the mangers to manage the increasing diverse workforce.

2. Literature Review

2.1 Diversity in Workforce (DRAW TABLE)!!

The term "Diversity in workforce" can be simply define as the differences or similarities among the workers in terms of individuals' background, ethnicity, gender, age, orientation, capabilities, preferences,

Workforce Diversity refers to policies and practices that seek to include people within a workforce who are considered to be, in some way, different from those in the prevailing constituency (McInnes, 1999).

Managing Diversity is the process where managers manage the organization's culture and infrastructure so that employee can provide highest productivity possible. It includes three strategies: education, enforcement and exposure. ( Search reference)!!

2.2 Types of Workforce Diversity

Put reference!

2.3 Key Drivers of Increasing Diversity in Workforce

There are several significant purposes for managing diversity in the workplace: to have a fair and peaceful workplace in the organization, to improve the employees' capabilities by promoting their individuals' unused talents etc. (An Independent Educational Magazine, 2006).

According to a research done by Tatli et al (2006), there are three main types of key drivers that cause to increase the diversity in workforce and they are-

1. Impact of globalization and its changes

2. Changes in demographic pattern of labor market and -

3. Changes in working environment, nature or competition.

There are several steps in managing diversity in the workforce:

Include or exclude the number of diverse people,

Assimilate

Suppress

Isolate the diverse people

Tolerate

Build relationship to overcome differences and-

Foster Mutual Adaptation or Acceptance.

(put reference)!

2.4 Human Capital

Human Capital is the set of skills which an employee acquires on the job through training and experience, and which increase that employee's value in the marketplace. It is an intangible asset as it is not owned by the firm that employs it.

As human capital is performed by the employees themselves, the organization can expect several advantages out of human capital in an organization. Employees in an organization will try to raise their skills, knowledge and abilities to a higher extent and that will benefit much to their organization. Organization can fulfill its own targets and predicted objectives by this human capital action. There may be increasing number of skilled and knowledgeable employees in the organization and it can generate organization to reach its highest level in the economy.

2.5.1 Intrinsic & Extrinsic Motivation: Intrinsic and extrinsic motivations are needed.

Extrinsic motivation comes from outside of individual. It includes rewards like money, pay and social recognition. Managers can boost intrinsic motivation by letting employees work on important whole task, delegating and trusting, providing challenge and feedback, and celebrating improvement.

Intrinsic motivation refers to motivation that is driven by an interest or enjoyment in the task itself and exists within the individual rather than relying on external pressure.

3. Studies of Diversified Workforce Organizations

4. Analysis on Benefits of Successful Diversity Management

5. Conclusion

Managing diversity in workforce has now becoming a major factor that is most responsible for the whole managerial task in every organization that have diverse workforce. Implementing the most successful diversity management has brought powerful challenges for the managers nowadays. Majority of the past researches and findings have already proved that better quality of diverse workforce can help to act as a catalyst in the organization to gain achievements.

Also, many of the companies traced improvements in performance to customer bases becoming larger with a more diverse workforce. The ability of an organization to develop diversity in the organization can also lead to improved recruiting. And, recognized diversity initiatives and diversity results will attract the best and the brightest employees. Diversity among corporations leads to a flexibility or adaptation to ensure survival along with increased creativity. Overall, the development of diversity programs increased the performance and competitive advantage of the firm. Diversity planning and implementation questions were provided to demonstrate how human resource diversity techniques increased the performance of the firm. In conclusion, it is essential to observe that human resource management and diversity management share a common ground.

Successful managers recognize this and will try to use a diverse workforce to develop a competitive advantage. In fact, there is not a general solution for every company. Managers should recognize different approaches and mix them into the right solution for their businesses.

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