The purpose of this document is to set out the business case for diversity and equality within the insolvency service. In this era of globalization, diversity in the business environment is about more than gender, race and ethnicity. This is an edited extract from women in the workplace 2017, a. A survey of the academic literature royal academy of. Companies that adopt purposeful strategies to build solid partnerships with indigenous people, businesses, and communities do so for a variety of reasons. It is hard for anyone rational to take them seriously but a word has to be said about making the business case for inclusion and diversity so. March 21, 2014 cathy gallagherlouisy tweet about this event. Rising to the challenge of diversity a discussion of the business case why does diversity matter. At each level, there are different sets of justifications for adopting diversity management practices. When the most talented people can rise to the top, regardless of what they look like and where theyre from, we all end up winning.
Creating a fair employment system for all employees. Learn how prioritizing diversity and inclusion can give your business a boost. The essential reference book for diversity leaders you know that work place and marketplace diversity are the marks of a wellmanaged company. Here we will look at the various aspects of diversity that might. Making the business case for diversity and inclusion. Federal equal opportunity laws got the ball rolling, notes harvard professor frank dobbin in his book, inventing equal opportunity. Forget the business case for diversity and inclusion.
The business case for diversity is now overwhelming. Hiring and retaining the bestqualified person for the job. The business case for diversity by the b team issuu. Diversity generally focuses on the full spectrum of differences and similarities between individuals. Now, the business case for diversity, fifth edition, illustrates exactly how creating an inclusive culture benefits the bottom line. The business case for diversity and inclusion keynote at an inclusive lethbridge conference march 2114 1. Kimer, president and owner, total engagement consulting by kimer. The business case for diversity management operates at four levels.
Human resource strategies to manage workforce diversity. According to diversityinc cofounder luke visconti, that makes abbott, number five in the ranking, extraordinary. The business case for diversity fierce competition for market share organizations that must recruit a diverse, culturally competent workforce that reflects the rapidly changing market. Cox media group diversity council summit introduction cox media group cmg is an integrated broadcasting, publishing, direct marketing and digital media company that includes the national advertising rep firms of coxreps. The case for establishing a truly diverse workforce, at all organizational levels. Many of us know intuitively that diversity is good for business.
Diversity is good for business, but our supportive arguments need to better reflect the complexities of the benefits. Browse the amazon editors picks for the best books of 2019, featuring our. Despite this focus, countless organizations of all sizes struggle to originate and sustain progress in this business critical area. An african american and latinx history of the united states book cover picture. These books about diversity and equality in the workplace are a good place to start. Stefanie johnson lays out the business case for diversity and inclusion in the global enterprise. The views expressed within bis economics papers are those of the authors and should not be treated as government policy. Ive been invited to discuss the business case for diversitywhy diversity is as critical to your business strategy as the products you make or the services you provideand to.
Join wayne cascio for an indepth discussion in this video, making the business case for diversity, part of human resources foundations. Although diversity alone does not increase company profitability in the near term, there is a lot to be gained by investigating the conditions under. Here she expands on some of the findings of her research and discusses important examples of making the business case for diversity. Despite a compelling business case for board diversity, the increase in gender board diversity continues at a slow pace. The business case for equity explains why you should strive for a more diverse and equitable workforce. Teams of mixed gender, ethnicity, physical ability, age and sexual orientation are more representative of customers. The business case for equity is a handson, practical guide to the why and howto of striving for diversity and equity in.
The business case for diversity presented at winchester, va area shrm winchester, va, june 24, 2015 by stan c. And if you hope to expand your business into any of these emerging economies, youre going to have to make diversity and inclusion a top priority. Making the business case for diversity linkedin learning. The business case for diversity is a sinking ship the. With increasing globalisation and often workers carrying out their jobs remotely, this has led to many challenges for business. The business case for diversity management acca global. The business case for equity explains why you should strive for. The business case for diversity north carolinaipma. The business case for more diversity wsj the wall street journal. The business case for diversity is a myth fast company. Breaking it down there is a significant body of research that proves the business case for diversity broadly defined and inclusion in the workplace is irrefutable. Pdf we provide an ethical evaluation of the debate on managing diversity within teams and organizations between equality and business case scholars. Thanks to the internet, business is more global than ever, which means that. Whats the business case for diversity in the workplace.
Pdf the business case for diversity and the perverse practice of. Victoria brescoll, assistant professor of organizational behavior at yale som, talked with q8 about what happens when people break from genderstereotypical roles in the workplace. This latter statement is known as the business case for diversity diversity management increases profits by providing a competitive edge to the firm karsten, 2006. Its less about what diversity adds, and more about what homogeneity takes away. Directorategeneral for employment, european commission on. Watch anka wittenberg, chief diversity and inclusion officer at sap, and iris bohnet, professor of public policy and behavioral economist at the. Drawing on comments made in the film clip and your wider readings and experiences, detail the arguments pragmatic and ethical for and against diversity in business. The business case for diversity pharmaceutical executive. In my line of work, the business case for diversity is practically a mantra. Drawing on 22 case studies in globally significant organisations, this report outlines the stateoftheart practices in creating the business case for diversity management. Empirical research studies have affirmed that workforce diversity in the private sector is associated with higher productivity and greater financial returns. Wall street journal, the business case for more diversity also, the financial times has published a ranking of the top 700 european firms on diversity. The business case for diversity and belonging sergio caredda.
The business case the business case for diversity is an organisational discourse that connects workforce diversity with a set of organisational outcomes. Only three out of 10 countries showed substantial improvement. Revenue generation, economic impact, roi 1st edition. Examining the business case in this chapter, we discuss the human resource management hrm perspective on workforce diversity. Diversity has come to matter more and more because of economic and demographic transformations over the past thirty years, as figure 1 below illustrates. Best books about diversity at work penguin random house. The business case for equity is a handson, practical guide to the why and howto of striving for diversity and equity in the workplace. Were making the wrong case for diversity in silicon valley. Indigenous people add to a companys diversity by offering unique characteristics and talents, and a niche employment market in both urban and regional settings. A values and virtues perspective article pdf available in journal of business ethics 1111 november 2012 with 1,749 reads how we measure reads. Rising to the challenge of diversity a discussion of the. Many people share a sense of moral responsibility to advocate for diversity in organizations, but what is the functional value of diversity in the workplace.
First, diversity increases companies ability to capture new markets. Merck is the only other pharma company to make the cut, but comes in at number 24, and is on a downturnit was ranked last year. For the third year in a row, abbott labs has made it into the top 10 companies judged by diversityinc magazine to have the most diverse workforce. This myopic and dense argument grows tiresome to have to make the case. To read that conversation visit what do leaders need to understand about diversity. Good practices in the workplace social affairs and inclusion.
Wall street journal research analysts rank industries and companies for diversity and inclusionand find a link to performance. The business case for diversity is a sinking ship medium lily zheng. As employers we have legal obligations and responsibilities not to discriminate against employees and to take all reasonable steps to prevent discrimination, harassment, victimisation or bullying. The story of the girl who stood up for education and was shot by. Two of these relate to broadening the business case. Managing cultural diversity can be a tricky business for companies. How team diversity boosts performance in his book, the difference, scott page shows where, how and why diversity leads to better outcomes and makes a convincing case for why diversity trumps. Diversity leads to stronger business results, as numerous studies have shown. Business case for workplace diversity mit sloan experts. As stated in a study by the minority corporate counsel association mcca, law firms that only pay lip service to diversity may. The business case for diversity and inclusion keynote at. Context for growing importance of employee diversity market diversity open markets.
The business case for diversity diversity in engineering. Business case for diversity report 7 executive summary f or decades, the legal profession has been hearing and talking about a business case for diversity where corporate clients apply the carrot of continued or increased business and the stick of an implied decrease, withdrawal or. Additionally, cmg owns cox target media, which operates valpak, one of north. The business case for diversity winchester area shrm. It now includes employees with diverse religious and political beliefs, education, socioeconomic backgrounds, sexual orientation, cultures and even disabilities. Mr makhlouf pointed to the numerous benefits of diversity and also claimed that the business case for greater diversity was clear that international research showed stronger performance by firms with more balanced board representation. And if youre still on the fence, lets explore more of the business case for diversity. Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. A mustread for diversity leaders, this book is completely rewritten, reformatted, and includes. T hat is the audacity and ridiculousness of making the business case. The business case stands alongside the services view that a commitment to diversity and equality is a moral imperative. It aims to articulate the costs and benefits of the services commitment to diversity and equality. The evidence is growing there really is a business case.
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