A Business Case for Diversity

7 Feb

When discussing the topic of business case one term that appears quite frequently in the literature is ‘diversity’. In this blog we will discuss the benefits of diversity, if there are any drawbacks from trying to achieve it in an organization, and why businesses strive to develop a business case for it.

There’s a lot to be said for having diversity in an organization. It can ‘improve the quality of the workforce and can be a catalyst for a better return on your investment in human capital’[1]. It can also promote increased creativity within the organization.

One of the main reasons for having a business case for diversity is to ensure that an organization is ‘flexible’. The more flexible an organization is, the more chance they have of surviving in the business world. An example of this is PriceWaterhouseCoopers (PWC). In recent years PWC have diversified their business significantly and last month launched their ‘Global Diversity and Inclusion toolkit’. This toolkit contains two crucial facets. It includes successful diversity practices that have been empirically proven to drive results. They have also made a comprehensive change to the framework of the company.

However a recent survey conducted by PWC revealed that diversity is the second least deployed practice in businesses. The diagram below[2] illustrates what practices businesses deploy to develop leadership.

Image

On the other hand, diversifying your organization can also have a negative impact. If diversity is not implemented properly it can cause conflict and poor internal communications. Nevertheless, this can be eradicated by following these simple procedures[3]:

  • Ensure that program goals are clear
  • Ensure there are rewards for success
  • Innovation in tools and strategy must be up-to-date and effective
  • Have competent recruiters
  • Conduct plenty of market research

If You have comments or questions, please feel free to leave contact me.

Sources:

[1]  http://www.docstoc.com/docs/82552822/The-Business-Case-for-Diversity

[2]  http://pwc.blogs.com/gender_agenda/2013/01/diversity-it-is-a-business-issue-with-a-clear-business-case.html

[3]  http://www.docstoc.com/docs/3624783/The-Business-Case-for-Diversity

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One Response to “A Business Case for Diversity”

  1. kwiaciarnia wysyłkowa March 30, 2013 at 3:04 pm #

    Recently, I didn’t give plenty of consideration to leaving suggestions on blog page posts and have positioned remarks even a lot much less.

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