Learning Outcome: 02
Task 2.1 Explain what is meant by ‘diversity’ in the business context
In the changing business environment, owners of the business are adapting policies or strategies on diversity which apply to their suppliers, customers, vendors, and employees. Workplace diversity brings with it a host of potential benefits, as well as potential conflicts for business owners to manage (Bell, 2016). Diversity has to do with more than race or ethnicity. Diverse workplaces are composed of employees with varying characteristics including, but not limited to, religious and political beliefs, gender, ethnicity, education, socioeconomic background, sexual orientation, and geographic location.
Businesses find ways to incorporate diversity into their workplaces without causing major changes to the way their companies operate. Incorporating diversity practices in a workplace can include recruiting from diverse talent pools to make the company open to employees from various backgrounds (Lambert, 2015). Diversity may be infused into advertising practices to ensure products and services are targeted to all consumers who represent the target market, whether through print, online, television, or radio.
As workplaces embrace the idea of diversity, they often realize benefits that help improve the productivity of the companies, from new ideas to increased international opportunities. Diversity can add varied ideas and perspectives to the workplace (Brown, 2016). Research compiled by the Journal of Small Business Management suggests that employers who recruit diverse workforces open their businesses to a wide range of ideas. Businesses compile these varied opinions and ideas as they make decisions about how to start, run, and finance their operations and market their products or services.
As workplaces become more diverse, employers are encouraged to take note of communication, training, recruiting practices, and management. Diverse workforces may be plagued with problems if employees are not equipped with the knowledge they need to communicate effectively with their coworkers, regardless of their differences (Henderson, 2016). Diversity training can help reduce interpersonal conflicts within a company. Therefore, in the efforts to train the workers on the issues of diversity, a business organization may see the increased costs in training and development.
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Finally, diversity is significant for business organizations. Diversity in the workplace is important for the workers because it manifests in building a positive reputation for the organization, leading to increased profitability and opportunities for workers. Workplace diversity is important within the organization as well as outside. Business reputations flourish when companies demonstrate their commitment to diversity through aggressive outreach and recruiting efforts. A business organization known for ethics, fair employment practices and appreciation for diverse talent is better able to attract a great pool of qualified applicants.
Task 2.2 Recognise the benefits of having a diverse workforce
Diversity is the presence of people from a wide range of backgrounds and possessing different traits (Henderson, 2016). There are several benefits of having a diverse workforce which is described below:
Talents, skills, and experiences: Individuals from diverse backgrounds can offer a selection of different talents, skills, and experiences that may be of benefit to the organization and their work performance (Livemore, 2016). Though some crossover of skills can be beneficial when it comes to assisting each other, it’s important to hire people with the appropriate skills to fit each of the roles within the company. A variety of skills and experiences among the team also means that employees can learn from each other…………