Essay on "Analyzing Diversity in Modern Business and the Accruing Benefits in Their Daily Operations"

Essay 9 pages (2880 words) Sources: 5

[EXCERPT] . . . .

Pictures of black people, white people, Asians, etc., working either in groups or alone are present throughout the website. There are images of black and Indian employees working alongside their white colleagues. The section for diversity and inclusion has some videos regarding the issue of diversity such as "cultural diversity at AIG, valuing diversity and celebrating diversity in Nordic countries." The organization encourages diversity with the verbal content on their web pages. The firm emphasizes on the fact that it is committed to diversity because of these three reasons: for the workplace (firm), for the company's vendors as well as its clients as the CEO appropriately lists.

In the case of the firm, the company desires a broad spectrum of people to ensure that the best people whose skills are exceptional are recruited by the company to better its long-term growth. The company does this through inclusion. Inclusion is a key link that brings to life the benefits of a workforce that is diverse. Cultivating a culture that seeks and encourages different backgrounds, thinking styles and life experiences will help the company to understand, connect and serve their clients. This will fulfill the company's mission of being the world's most valued insurance company. Secondly, a culture of teamwork is facilitated by the firm to support differences and also encourage inputs from all employees; this is regardless of their creed, gender, sex or national origin. The company has explicitly clarified the equal right of every employee in the working place. Thirdly, knowing how to deal with diversity has given the organization the aptitude to offer solutions to clients to manage a complex global environment and creative concepts.

Perspectives

Based on its website, this company has a positive perception of diversity considering its great highlights of this aspect of the workplace. It encourages diversity by allowing people from various ethnical backgrounds or race to apply for jobs in AIG. Not only does the company do that, but it also provides training and career development, based on educating people about diversity in their various vocational lifecycle. It started this in its various talent programs; where a world-wide and inclusive mindset is maintained with the purpose of identification, development and retaining a workforce that is diverse and optimization of productivity, innovation and creativity.(AIG, n.d.).

AIG works towards driving the development of an inclusive workplace. Through Employee Resource Groups, AIG leverages education and cross-cultural experiences aimed at building inclusive leaders and support employee engagement.

Moreover, as stated on the website, the corporation complies with United States Discrimination Laws. This means that apart from monitoring its business practices based on the initial employment benefits and compensation, the company also takes keen interest in the working behavior within it. The website mentions that strict disciplinary actions are taken against employees and managers found to have been involved in racial/discriminatory actions. This leads to the impression that the company defends strongly equal employment opportunity. As a result, the company's brand is enhanced through the construction of important diverse supplier and community relationships as well as tapping diverse ideas and perspectives to enhance business opportunities world-wide (JPMorgan, 2016).

Internal Management Issues

The internal management issues affecting the prominence of diversity, according to the website, are management of employee relationships. The interpersonal relationships among employees coming from diverse backgrounds can hinder the smooth workflow within a firm. Therefore, it can impact this aspect's prominence on the company's website. As indicated on the website, the inability of the management to nurture a culture of inclusion will make the company fail to meet its purpose and commitment. The increasingly multicultural and aging workforce in Europe is making a significant impact on the marketplace, and also at the workplace. These socio-demographic trends demand that Enterprises focus closely on generational ethnic, and disability issues in the future. The internal issues that affect diversity information on the website can be listed as;

Discrimination

Often, human resource processes are put in place by companies that intentionally hire a diverse workforce with the aim of managing diversity. However, companies that become diverse slowly without a strategic plan may realize more discrimination among subordinates, managers and employees. Considering that discrimination refers to unfair treatment of someone or a group of people because of their distinguishing traits. It is possible for this discrimination to find its way into the individuals who are responsible for the administration of website content.

Increased Costs

Greenberg, in his recommended effective diversity management steps, included diversity assessment, various approaches to diversity training and also development and implementation of diversity workplace plans. There are both direct and indirect costs that are associated with these processes. The direct costs include, use of consultants and outside professionals, supplies, and other materials. The significant time involved by company employees while they provide and receive training and their participation in other aspects of analyzing and implementing diversity management are included in the Indirect costs (Kokemuller, 2016). It is costly for the company to change the diversity information to make it accurate and recent.

Communication Barriers

The number of communication filters is increased when you build a workforce made up of employees from different cultures and countries; language barriers are increased, which greatly impact on the internal and external communication processes. Heterogeneous work cultures are more likely to find communication easier since the employees do not have to struggle to overcome language and culture issues. Some larger organizations provide interpreters and diversity trainers to assist employees work through communication challenges caused by diversity (Kokemuller, 2016). The communication barriers may also affect updating of information on the website

Diversity Awards

Winner Black Journal Award 2014 Best of the Best. This award was given by Black EOE Journal. It demonstrates the outstanding efforts towards diversity promotion that makes this company a leader in the quest for true diversity. The annual review evaluates the nation's employers, initiatives and government agencies. Results provided are non-biased hence a valuable resource for job-seekers, students, consumers, senior management, business owners, business associations, employment agencies and consumer groups.

Winner of Human Rights Campaign Foundation's Award for Best Place to Work for LGBT Equality 2014.

Winner of Professional Woman's Magazine's Award for Best of the Best 2014

Diversity Inc. Award for Top Companies for Diversity 2014

Winner of Hispanic Network Award for Best of the Best

Perceptions of the Company for a Female, Over 55, Racial Minority LGBT Person

DIVERSITY IN MODERN Business 12

I would apply for a job in AIG since the audit of the website shows that the company has cleared its stance on equal employment opportunities and diversity. Despite my disability or sexual orientation, I would prefer to work in this company. I perceive that the firm will focus on my qualifications over other issues such as impairment or my lifestyle. Gender diversity has always been prioritized by AIG Enterprises. This is attributed to the consistent efforts; positive results can be seen by the company. A significant percent of its executive leadership team and its board of directors currently comprises of women -- the European average for boards of directors and for executives. There is a rise in the female participation at all leadership and management levels (Diversity Journal, 2015). However, the company greatly encourages diversity yet a search for LGBT on the website returned no result. This is very strange for any company that is fully focused on diversity.

References

AIG. (n.d.). careers. Retrieved from American International Group: http://www.aig.com/careers

AIG. (n.d.). Diversity and Inclusion. Retrieved from AIG: http://www.aig.com/careers/diversity-and-inclusion

Angelides, P. (2011). Financial Crisis Inquiry Report. DIANE Publishing.

Diversity Journal. (2015). Diversity is Everybody's Business. Retrieved from Diversity Journal: http://www.diversityjournal.com/12148-diversity-everybodys-business/

Ingram, D. (2016). Advantages and Disadvantages of Diversity in Workplace. Retrieved from Chron: http://smallbusiness.chron.com/advantages-disadvantages-diversity-workplace-3041.html

JPMorgan Chase. (2016). About us. Retrieved from JPMorgan Chase & Co: https://www.jpmorganchase.com/corporate/About-JPMC/about-us.htm

Kokemuller, N. (2016). Negative Effects of Diversity in the Workplace. Retrieved from chron: http://smallbusiness.chron.com/negative-effects-diversity-workplace-18443.html

Mayhew, M. (2016). Why Is Diversity in the Workplace Important to Employees? Retrieved from Chron: http://smallbusiness.chron.com/diversity-workplace-important-employees-10812.html

Walter, E. (2014, January 14). Reaping the benefits of diversity for modern business innovation. Retrieved from Forbes: http://www.research-space.com/PendingOrders/OrderHistory/1229 READ MORE

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