“At capital One, diversity means seeking out and embracing differences for the richness those differences add to our lives and to our business.” (http://www.capitalone.com/about/corporatecitizenship/diversity.php) A company that opens it business to diversity has the ability to value human differences, and in return acquire beneficial relationships. Capital One has partnered with MWBE (Minority and Women Business Enterprises) and the relationship is yielding a positive reaction in terms of the communities that house Capital One and in the corporate world. Because Capital One is an information based company there diversity plan is also well thought and proven. The diversity plan includes targeted recruitment, development and advancement, communication and awareness, retention and accountability and rewards. By making informed decisions and thinking outside the box they have been able to discover talented diverse candidates. With these type of workforce the company has created a place where all associates have a chance to balance work and life because of the flexible work arrangements. In hiring people who are varied but understand the goal of the company they have been able to initiate software to allow representatives to work from home, developed a retention plan, open health doors for domestic partner health coverage, partnered with the Virginia Hispanic Chamber of Commerce in Richmond, and much more. Capital One has brought diversity into every level of employment to ensure success in the present and the future. The VP/CIO is a woman by the name of Kathy Busser and usually at this level you don’t see many woman, but Capital One is breaking the mold so incorporate placing the best person for the job without looking at race, color, religious preference, or anything that is superficial. Employees are attaining jobs clearly on the ability to perform the duties at hand and be open to change and new innovative techniques to help the company move forward in the next millennium. The company promotes diversity with eight heritage months a year, and while opening its doors to all these changes they make an effort to mentor new business owners and employees that are developing through and in Capital One. This company is not only diversified in the aspect of it hiring practices, they have branched out in more than a few industries. Capital One business ventures include: Consumer financial products and services including domestic credit card lending (U.S. Card), motor vehicle financing (Auto Finance) and global financial services (GFS): home loans, small business finance, savings and healthcare finance, Recent acquisitions are eSmartlaon, a mortgage lending business, and Hibernia Bank. In 2005 Capital One had 12,481 employees and their gross operation profit was at 4.15 billion dollars, and in 2007 there were 18,666 employees and the gross operating profit was 6.75 billion I would say that their system for hiring talents diverse individuals is accommodating their financials effectively and positively. The efforts off maintaining an open mind has shown in the retention of employees by showing 14% loss of employees which means they are currently at 86% retention and they are again on the list Forbes Top 100 Companies. Organizational Flexibility
In the business world of high finance and credit world, one would think that is just as simple as evaluating a credit score and make a decision as to whether or not you can allow the customer to have credit or not. Appearances on the frontlines do not necessarily mean that is how the credit card companies run the day to day business. A certain structure is to be maintained and controlled in running the vast corporations of commerce and industry. Some structure is old style and some structure has evolved to look like new and yet the basic underlying structure is still there with new terminology. Other structures have become flexible to a completely new structure and...
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