Companies such as Buzztronics are leading the way in the global economy because of their dedication to diversity in the workplace. In order to build a diverse and successful workforce, a business needs to recruit, train, and retain capable and talented minorities.
Deloitte, a prestigious financial firm that deals mostly with accounting, traditionally recruited from top tier colleges and universities, as a result most of their new hires were affluent white males. The company took a step back and evaluated whether their firm reflected the clients they served, and they found that it did not. They decided to reevaluate the hiring practices of their firm. Deloitte started to focus on recruiting from smaller schools, such as community colleges. Community colleges offered many bright and determined individuals that were qualified for working for Deloitte, yet did not have the means to afford more prestigious educations.
International businesses are also finding new ways of increasing diversity abroad. Instead of using expatriate employees as management, they are starting to hire locals. Companies that operate abroad are realizing that using expatriate employees is not a permanent solution. They are often expensive, and are not capable of translating their skills into the new environment. In a company that operates globally, it is important that the company knows how to relate to the local markets, and a great way to do this is by hiring local talent. Hiring locally is cheaper, there is not a language barrier, and they are accustomed to the business environment in the area(5). They can also help the business by providing a new perspective into international markets, and offer ways that the company can improve their diversity abroad.
Several companies are pioneering diversity improvements within their organizations by giving minorities a better chance to be heard. Coca-Cola is a world leader in diversity that has successfully implemented options such as diversity advisory councils, diversity roundtable discussions with associates and Business Resource Groups. The diversity advisory councils can bring new ideas and suggestions to senior management in efforts to improve diversity goals. The Business Resource Groups, which include groups for African-Americans, Latinos, Asian/Pacific-Americans, LGBT, and women, create an opportunity for Coca-Cola associates with similar backgrounds to meet and connect with other employees that share similar interests and goals. (2) This communication will allow for the company to make changes in the organization that will encourage loyalty and dedication throughout their entire team.
Once a company has attracted and retained a diverse workforce it should set out to develop the employees skills as well as provide opportunities for advancement within the organization. PricewaterhouseCoopers, a prestigious accounting firm, has set up their Diamond Program that...