Most Popular (1-4 of 8)
Processing .....please wait.. 
The article has been forwarded.... 
How diversity can make good business sense
By SiliconIndia | Tuesday, 21 June, 2011
|
|
Bangalore: Diverse Workforce is key to complex markets. Yet very few companies use Diversity Management to meet Business Needs says the survey by Boston Consulting Group. The Boston Consulting Group (BCG) in collaboration with the European Association for People Management has conducted its third study on the trends in people management, surveying more than 2,000 executives in more than 30 European countries.
âOur research has shown that the business case for diversity is clear and that HR needs to integrate such measures into its broader people policies. A modern workplace must represent its customer base in order to be truly effective and to deliver products and services that drive it to the competitive edge in a global environment,â explained Stephanie Bird, an author of the report and the director of HR capability for the Chartered Institute of Personnel and Development (CIPD).
An analysis by BCG of 40 randomly selected companies from the Euro Stoxx 50 index showed that, on average, 93 percent of the executive directors were male; 86 percent were native Europeans; and 49 percent were between the ages of 51 and 60 years old. By contrast, the market demands on these same companies are far less homogeneous: the purchasing power of women is steadily increasing; the companies generate, on average, approximately 40 percent of their revenues outside of Europe; and their customers are growing older.
âDiversity must be seen as a strategic response to major business trends such as globalization, demographic shifts, and the talent shortage,â explained Dr. Rainer Strack, senior partner at BCG, HR expert, and an author of the report.
The BCG/EAPM report explains how employee diversity can be increased to advance business requirement through several steps.
1. Create transparency.
2. Redefine recruiting.
3. Promote diversity.
4. Build leaders for the twenty-first century.
5. Retain employees.
6. Make progress visible.
Business risk caused by demographic change (aging) was noted as the greatest diversity challenge by 48 percent of the survey respondents. The major challenges being gender (29 percent) and nationality (18 percent).
During the survey it was recorded that nearly 80 percent of respondents said that their company had implemented at least three measures to enhance employee diversity. For example, the measures referred to most frequently included flexible working-time models and parental leaveâboth seek to increase the proportion of women in the workforce. However, the survey also found that most companies apply these initiatives only selectively.
In addition, the survey results reveal considerable differences in how various groups of employees view the effectiveness of diversity initiatives. For example, older workers rate measures for promoting age diversity as less effective than their younger colleagues do. âIn order for diversity to be successful, top management must visibly support the objectives, and the entire workforce must be integrated in the development and execution of the programs,â explained Jean-Michel Caye, senior partner at BCG, expert in talent and leadership, and an author of the report.
âOur research has shown that the business case for diversity is clear and that HR needs to integrate such measures into its broader people policies. A modern workplace must represent its customer base in order to be truly effective and to deliver products and services that drive it to the competitive edge in a global environment,â explained Stephanie Bird, an author of the report and the director of HR capability for the Chartered Institute of Personnel and Development (CIPD).
An analysis by BCG of 40 randomly selected companies from the Euro Stoxx 50 index showed that, on average, 93 percent of the executive directors were male; 86 percent were native Europeans; and 49 percent were between the ages of 51 and 60 years old. By contrast, the market demands on these same companies are far less homogeneous: the purchasing power of women is steadily increasing; the companies generate, on average, approximately 40 percent of their revenues outside of Europe; and their customers are growing older.
âDiversity must be seen as a strategic response to major business trends such as globalization, demographic shifts, and the talent shortage,â explained Dr. Rainer Strack, senior partner at BCG, HR expert, and an author of the report.
The BCG/EAPM report explains how employee diversity can be increased to advance business requirement through several steps.
1. Create transparency.
2. Redefine recruiting.
3. Promote diversity.
4. Build leaders for the twenty-first century.
5. Retain employees.
6. Make progress visible.
Business risk caused by demographic change (aging) was noted as the greatest diversity challenge by 48 percent of the survey respondents. The major challenges being gender (29 percent) and nationality (18 percent).
During the survey it was recorded that nearly 80 percent of respondents said that their company had implemented at least three measures to enhance employee diversity. For example, the measures referred to most frequently included flexible working-time models and parental leaveâboth seek to increase the proportion of women in the workforce. However, the survey also found that most companies apply these initiatives only selectively.
In addition, the survey results reveal considerable differences in how various groups of employees view the effectiveness of diversity initiatives. For example, older workers rate measures for promoting age diversity as less effective than their younger colleagues do. âIn order for diversity to be successful, top management must visibly support the objectives, and the entire workforce must be integrated in the development and execution of the programs,â explained Jean-Michel Caye, senior partner at BCG, expert in talent and leadership, and an author of the report.
|
|
Post your Comment
All form fields are required.
Write your comment now
