Diversity

CATALYST: Diversity

Gender, Age and Ethnic diversity are mandatory requirements [1] that present both challenges and opportunities as organizations compete for advantage in a global marketplace [2].

Employee diversity on its own only has a limited impact on the employees’ attitudinal and behavioural states. However when combined with Employee Engagement, the bottom line impact is significantly boosted as a consequence [6]. Employees’ loyalty to the organization is increased such that it comes through to how they project the company [7] both internally and externally, and equally important, the Customer satisfaction engendered by the proactive and positive service they provide [5].

Organisations benefit from the positive effects on certain organisational processes such as communications, creativity, and problem solving, which are closely related to performance [3]. Through the increased congruence and rapport engendered by the employee with the customer, and with the business model being robust, every percentage increase in the rate of racial or gender diversity up to the rate represented in the relevant population, an increase in sales revenues of approximately 9% and 3%, respectively [4] is likely to result.

Focused diversity particularly effects customer facing functions. Matching the company’s diversity profiles to their intended markets will have a positive effect on market penetration, business revenue and potentially higher profitability.

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Diversity Alignment
Diversity Alignemnt Financial Benefits

Benefits with Alignment of Workforce with Target Market

[1]        UK Equality Act, 2010
[2]        UK Corporate Governance Code, 2012
[3]        McLeod, Lobel & Cox, 1996
[4]        Cedric Herring, 2005
[5]        Gallup, 2010
[6]        The Hay Group, 2010
[7]        Journal of Economics, Business and Management, Vol. 3, No. 1, January 2015

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