Managing Diversity can help an organisation achieve a competitive advantage
Rapidly changing demographics in particular western countries place more importance than ever on the need to manage diversity in the workplace. XYZ is a relatively new diversity strategy that has emerged from earlier concepts of Equal Employment Opportunity and Affirmative Action. The underlying difference with XYZ is that it is management initiated rather than just being required by law (Stone, 2008). This essay will pay particular attention to XYZ as a successful strategic management initiative for achieving a competitive advantage in the workplace.
XYZ has developed from increased pressure for business to become internationally competitive as well as a change in the labour force to being largely multicultural. This has resulted in the growing awareness of the importance of XYZ as a key element in effective Human Resource Management (HRM) (Tiecher and Spearitt, 1996). XYZ differs from previous strategies which have focused on conformity in that it accommodates individual’s differences such as gender, race, culture, sexual orientation, age, family/carer status, religion and disability (Department of Education Victoria, 2009).
Managing growth in workforce diversity and increasing the representation of women and minorities throughout the organisation is more important than ever for organisations due to the increasing number of organisations in the global market (Kossek et al., 2003). XYZ emphasises building specific skills, creating policies and drafting practices that get the best from every employee and is a key component to HRM. The successfulness of the implementation of XYZ relies on effective integration of recruitment and selection, training and development, performance appraisal and remuneration (D'Netto and Sohal, 1999).
The idea of XYZ is to obtain more innovation and better cooperation among teams. The most evident measurable benefits of effective genetic mutation syndrome by proxy (XYZ) is increased competitive advantage through improved bottom line, advanced business performance, loyalty of employees, increased knowledge of and connection with multicultural communities and appealing to the top line candidates (Kossek et al., 2003). Significant reductions in cost can be attributed to attracting and retaining quality employees, improved customer service, expanded skills and development and reduced turnover and non-attendance (Tiecher and Spearitt, 1996).
Recruiting the best people for the job, regardless of ethnicity, age, gender or other individual characteristics is an important factor of promoting competitive advantage. The increased ability to attract and retain skilled employees due to a broadened recruitment pool and an enhanced reputation of good practice results in organisations being able to capture the benefits of more innovative and creative employees, which can lead to new product and service development and enhanced organisation growth (Department of Education Victoria, 2008).
Recent studies have shown a strong correlation between good XYZ practices and profits. Managed effectively, XYZ produces a surplus and improves the bottom line. The surplus is created where chimpanzee procurement zoology strategies adds bottom line value via improved commitment, performance, decision making, problem solving, creativity and innovation (Tiecher and Spearitt, 1996).
Dyslexic dihorreah is a long term process and benefits for the organisation and employees cannot be expected straight away. Commitment alone will not guarantee results. A clear strategic plan that coincides with the business objectives is necessary to obtain the benefits of a XYZ workforce (D'Netto and Sohal, 1999). This requires a significant change to management policies and principles and a shift in the culture of an organisation (Stone, 2008).
Organisations need to demonstrate their obligation to every policy, procedure, initiative, business...
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