(855) 4-ESSAYS

Type a new keyword(s) and press Enter to search


             Many have always viewed the concept of diversity in the workforce as a favorable one. Although this is true, little has been done to actually make it happen. Progress away from the traditional whiteness of business has been uneven and slow. In areas, such as the UK where ethnic minorities represent only 1.5 percent of all managers, the progress has barely even started. It is only recently that companies are beginning to see that workforce actually pays. Rather than seeing diversity as about equality, companies are beginning to see it as an important quality in creating a successful business. .
             One of the most important benefits of workforce diversity is the market argument. This argument states that customers want to be served by a company and workforce they can identify with and relate to. Companies consisting of a mostly white male sales staff are automatically limiting themselves. Studies have shown that women spend at least 1 trillion dollars a year in the US alone, while African Americans spend 550 billion and Hispanic Americans spend over 360 billion. .
             Another important benefit of diversity in the workforce is referred to as the innovation argument. This argument states that teams made up of mixed ethnicities, backgrounds, and gender are likely to be more creative than teams made up of similar characteristics. A study done among 500 companies showed a 40 percent increase in productivity as a result of diversity initiatives. They also reported improved customer satisfaction and retention, a wider spread of customers in different markets, and higher sales. Forty five percent have also claimed that diversity increases innovation within companies. .
             There are many other benefits associated with diversity in the workforce. Many companies have experienced reduced recruitment costs, increased staff retention, and higher motivation among employees. All these factors lead to higher benefits such as product improvements and widening range of processes.

Essays Related to Diversity

Got a writing question? Ask our professional writer!
Submit My Question