Global Workforce Diversity
Multinational corporations operate in different countries and employ a global workforce. It is imperative for these businesses to embrace diversity as the way to go, to increase productivity, manage competition and optimize performance.
It is a given that people do come in different shapes and sizes which is likewise strongly evident in the workplace. The workforce is made up of people coming in from different backgrounds with varying beliefs, attitudes and manner of doing things. The company must deal with these differences with a decent amount of cultural sensitivity. It used to be that talents and skills of certain individuals and groups have not been tapped for reasons of gender, age, color, physical disability and sexual orientation. In recent years, the social and business climates have been kinder with their inclusion initiatives. Such moves have done their companies a great deal of good, because they saw in their workforce of divergent backgrounds the potentials that would give their organization the leading edge. Global Workforce Diversity is recognizing the value in the individual and group-identified differences and incorporating diversity as an important corporate strategy to deliver the goods like increase profits and sales, loyal and growing customer base and huge market share.
In a global playing field, customers have different expectations and needs that have to be addressed. A company would need varied ideas and approaches to come up with solutions that sometimes consider ethnicity and creativity. General Mills asked the opinions of its employees of African-American descent on what might be done to raise the sales of its Betty Crocker Corn-Muffin Mix. The employees suggested using B. Smith, Martha Stewart’s African-American counterpart, as endorser. True enough, sales rose by 22% in less than a year.
When tradition was strongly against women working, companies lost the opportunity to utilize them in a diversified workforce. Times are less restrictive now. With more women working and playing major roles in most organizations, their opinions and suggestions help businesses to come up with saleable feminine products and continue to attract women customers.
A diverse workforce pools talents and skills that make for more creativity in handling different sets of customers. 66,000 employees of American Express live in countries outside of the United States and work in the four regions where it has its operations.
Amagen, a pioneering Biotechnology company and listed among Fortune 500 boasts of 20,000-strong diverse workforce. They represent professionally and culturally different people who contribute their specialization to the unique Amagen way of doing business, which includes zero targets for errors.
IBM has presence in 170 countries and acknowledges that half of its yearly revenues come from its operations outside of the United States. IBM knows the value of diversity and credits it for its staying power as market leader. A significant part of its diversity culture allows IBM to recruit world-class talent.
Global Workforce Diversity is affecting how organizations do their businesses. They now have an employee base with varied viewpoints and expertise to draw from. They understand their customers better and are able to respond to customer needs appropriately. The company is perceived as dynamic and responsible for being inclusive and diverse. These diverse companies earn more than those who are not, with average sales at $5.7 million against those that are not with $3.1 million, according to a study in the University of Illinois.
More CEOs are becoming diversity champions in their organizations. The global workforce is looking at a very bright future because diversity has become a corporate advocacy.
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