The Power of Diversified and Inclusive Businesses

Diversity is a commitment to recognizing and appreciating the variety of characteristics that make individuals unique in an atmosphere that promotes and celebrates individual and collective achievement (The University of Tennessee Libraries Diversity Committee Spring 2001; Revised January 2003).
 

Studies show that future workforce will have significant demographic variations. Companies report competitive advantage as the key driver of diversity efforts. Diverse markets require diverse strategies; organizations must know the markets they seek to serve and reflect the same diversity within.
 

Future workforce will have huge demographic variations:

The inflow of immigrants has been largely responsible for a continuing increase in the racial and ethnic diversity of the workforce. Hispanics and Asians are the fastest-growing racial and ethnic groups in the population and workforce. In the case of Hispanics, a high birth rate is partly responsible for that, but immigration is the main driver (Census 2000). 

In 2000, about 33% of the U.S. population identified themselves as members of racial or ethnic minority groups.  By 2050, it is projected that these groups will account for almost half of the U.S. population. The U.S. Census Bureau estimated that the United States had almost 38.8 million Blacks or African Americans (12.9% of the U.S. population); more than 45.5 million Hispanics or Latinos (15.1%);  almost 13.4 million Asians (4.4%) (U.S. Census 2000).

In addition, the steadily increasing female labor force participation rates, combined with decreasing male rates, have brought the labor force close to gender balance. The rise in female rates holds for married women and single women alike. It holds as well for women with and without minor children, and, for the latter, it holds whether they are married or not and no matter how old their children are (Department of Labor, USA).

People QuickFacts (Census 2003)                                New Jersey                          USA
Population, 2006 estimate                                             8,724,560                            299,398,484
White persons, percent, 2006 (a)                                      76.4%                                80.1%
Black persons, percent, 2006 (a)                                      14.5%                                12.8%
Asian persons, percent, 2006 (a)                                        7.4%                                  4.4%
Persons of Hispanic or Latino origin, percent, 2006 (b)  15.6%                                14.8%
White persons not Hispanic, percent, 2006                      62.6%                                66.4%
Foreign born persons, percent, 2000                                17.5%                                11.1%

Why Diversity so Important 

Diversity provides a richer variety of approaches to work and problem solving.
Diversity strengthens an organization's resilience in changing environmental conditions.
Diversity allows challenges to long-accepted views.
Diversity creates dynamic work environments through variety of perspectives.
Helps organizations understand how to effectively interact with all of its client base.
Informs organizational practices that create community support in all populations.
Helps manage perceptions of historically underserved markets.
 

Asurvey conducted by SHRM and Fortune, both concluded that diversity:
Improves corporate culture by 83%
Improves employee morale by 70%
Increases creativity by 59%
Decreases interpersonal conflict by 58%

Enables movement into emerging markets by 57%
Improves productivity by 52%
Exceptional performance within groups of medical colleagues representing a wide variety of “values, experiences and disciplines.” (1956)
Mixed gender groups consistently outperformed single-gender groups. Different viewpoints caused inventive solutions to emerge. (1961)
Routine problem solving better handled by homogeneous groups, less-defined problems better suited to heterogeneous groups. (1984)
Diverse ethnic groups produced more effective solutions than homogeneous groups. (1992)
To be successful, your organizational culture must be open to diversity; otherwise this effort will fail.
Managers, supervisors and front line staff need training and education on valuing and managing diversity.
Integrating diversity into an organization’s culture is not easy; the outcomes of a diversified organization are worthwhile all the efforts.
Leadership must value and commit to a long-term vision of diversity.
 

Bottom Line
Diversity can create stronger, more productive organizations.
Innovation is a by-product of diversity.
Innovation is key to vitality in the 21st century.
 

Diversity & Inclusion Part of your Strategic Plan

Diversity and Inclusion, is not just a HR initiative. Organizations looking to become competitive, productive, and innovated must look at Diversity as a quality initiative. Diversity is the new way of business creativity and performance.

THE U.S. POPULATION IS BECOMING INCREASINGLY DIVERSE (U.S. CENSUS BUREAU, 2003). MANY MULTINATIONAL COMPANIES RECOGNIZE THE NEED TO MANAGE THEIR DIVERSE WORKFORCES AS EVIDENCED BY THE PROLIFERATION OF DIVERSITY PROGRAMS BEING IMPLEMENTED IN MULTINATIONAL CORPORATIONS (WENTLING AND PALMA-RIVAS, 2000).

The Influence of Strategic Diversity…
Recent research suggests that firms that effectively manage their workforce diversity may experience positive outcomes. For example, research indicates that firms with higher percentages of women managers report relatively higher financial performance (Shrader et al., 1997) and greater effectiveness (Richard and Johnson, 2001). Recognizing these evolving workplace trends, numerous scholars have addressed issues related to diversity in organizations (e.g., Carter, 2000; Cox, 2001).

Diversity & Inclusion Part of your Strategic Plan Synergetic Model

ORGANIZATION

Executive Management
 

Middle Management
 

Managers/Supervisors
 

Front Line Staff
 

Clients/Businesses

What is Next…
Executive support for diversity initiatives
Tactics to smooth the transition to a more diverse work culture
Provide education programs from top to bottom
Create and maintain a consistent pro-diversity message
Form a diversity council that looks at large-scale organizational issues

"You can and should shape your own future; because if you don't someone else surely will."
"No one will thank you for taking care of the present if you have neglected the future."

-Joel Barker

"Innovation provides the seeds for economic growth, and for that innovation to happen depends as much on collective difference as on aggregate ability. If people think alike then no matter how smart they are they most likely will get stuck at the same locally optimal solutions. Finding new and better solutions, innovating, requires thinking differently. That’s why diversity powers innovation. “

-Scott E. Page, Professor, University of Michigan

For more information contact Helen Dao at helen@daoconsultingservices.com

Benefits to Going Bilingual (Guest Blogger)

It is currently estimated that 11.5% of the United States population speaks Spanish at home, and the number of Spanish speakers will be expected to increase to about 530 million by 2050.  Interestingly, in the United States alone, the Spanish speaking population seems to be increasing at more than 1 million per year.

As a result of this rising Hispanic population, would it not be strategically beneficial for businesses to start fully recognizing the importance of hiring Spanish speaking employees?  The truth is that regardless of the size of your company, there is an increase in the need for Spanish speaking employees in the private and public sectors.  The Hispanic community is not and will never abandon their beloved Spanish language, so avoiding this expansion could be futile if you want to remain a successful team player in your industry.  Therefore, it is wise to promote diversity and cross-cultural awareness in your organization.

With respect to jobs in the public sector such as education and government, Spanish speaking employees are particularly valued.  Think about it.  If you hire Spanish speaking employees who efficiently handle customer service matters, your large Hispanic clientele will not only be impressed, but they may be more inclined to bring their business to your organization instead.  Additionally, regarding jobs in the private sector, a competitive advantage would be to hire Spanish speakers because diversity is not only here to stay, but it is a global reality and inevitable.  If you do not have Spanish speakers working for you, you should either allocate room for a few now or have some current employees learn Spanish.  That said, the following is a list of a few benefits you would gain if you take the bilingual route:

• The Spanish community will not hesitate to do business with your company if you already have Spanish employees.

• Hiring bilingual employees represents to the Spanish community that your business is able to service their needs without making them feel ignored.

• Having bilingual employees adds value and a competitive advantage by making the customers feel appreciated and understood.

Whatever path you choose, know that there are more benefits than not to going bilingual.  Hiring Spanish speaking employees in your business is an advantage. 

Wendy Oliveras is a columnist, author, search consultant, and career planning and development advisor.

She can be reached at either (201) 947-6662 or via email wo@oliverascoinc.com.  Please also visit her at http://www.twitter.com/wendyoliveras or http://www.linkedin/in/wendyoliveras or http://www.oliverascoinc.com.

Diversity & Inclusion at the Workplace

Dear Reader,

So we start our Blogging Campaign at DAO!  Here is our first short article on The Power of Diversified Businesses.

The Power of Diversified Businesses

Diversity is a commitment to recognizing and appreciating the variety of characteristics that make individuals unique in an atmosphere that promotes and celebrates individual and collective achievement (The University of Tennessee Libraries Diversity Committee Spring 2001; Revised January 2003).

Studies show that future workforce will have significant demographic variations. Companies report competitive advantage as the key driver of diversity efforts.  Diverse markets require diverse strategies; organizations must know the markets they seek to serve and reflect the same diversity within.

To read the full article visit my website at www.daoconsultingservices.com and look under "News"

This week, we will have our first guest blogger,  Wendy Oliveras, Founder & CEO of Oliveras & Company, Inc.  She is also a columnist, author, search consultant, and career planning and development advisor. Look for her article on Benefits to Going Bilingual!