The paper "Managing Diversity or Toward a Globally Inclusive Workplace" is a great example of a Business Assignment. National Australian Bank (NAB) has a responsibility to meet the goals of shareholders and an obligation to care for employee needs. Some of the business objectives are; Business Objectives To support customers in embracing their banking, investment, and financial needs To provide for a great workplace where employees are appreciated and cared To improve the balance sheet and raise the asset level for its subsidiaries overseas To develop the latest technologies in increasing customer service Rationale: The bank has stated in its home page that it is committed to supporting investment, financial and banking needs spanning New Zealand, Asia, and Australia.
It has one of the pillars as its people. It is committed to ensuring that the organizational environment is great for its people and for customers to do business with. The bank is pursuing an Asian expansion strategy for China, Singapore, and Malaysia. It has appointed an Asian Leadership Team (ALT) which is driving business in Asia. The team consist of 18 members of which the majority are Australian nationals.
To enter Asia, the bank will need to study cultural differences and the possibility of a joint venture. Australian employees will likely differ their Asian counterparts given the power distance and relationship between members of the opposite sex. The Australian workforce will be integrated into the Asian culture if they want to make entry into the emerging market (Cornelius, 2002). To succeed overseas, a diverse workforce will be needed to include members of different races, religious affiliation, and gender. How the diversity policy will benefit NAB. Reasons and/or examples supporting the explanation Diversity policy is important for NAB since it assures employees and management of fair employment practices and non-discrimination.
Customers will also find a diverse workforce easier to work with and that the company is global or outward in its personality. Diversity is about inclusion in the workforce to depict variety in race, age, gender, and religious affiliation. External stakeholders such as government, regional bodies and regulators will find the organization compliant in workforce inclusiveness. The bank is bound to register good profits and satisfy its customers as well as employees.
Diversity policy helps to reduce absenteeism and staff turnover. Companies will have a better corporate image and enhanced marketing opportunities (Barack, 2010). For example, the Food and Drugs Association (FDA) in the US Department of Health is dedicated to the advancement and protection of public health. This department intends to perform its critical mission by recruiting scientific, professional and highly qualified administrative talent from across the globe. Of the total labor force in Montgomery County, 40 percent of the population are from minority groups. Diversity has helped the FDA to remain competitive in the employment market and reflect on the public served.
Diversity policy has helped the company in discovering knowledge and excellence. Through this, diversity promotes an inclusive work environment, individual empowerment to work and constructive management of conflict (Groschl, 2012). Critical evaluation of the diversity policy document Positive Aspects The diversity policy document has attempted to provide in detail the various aspects of inclusion and diversity such as age, gender, disability, indigenous and African Australians. The document is clear and displayed in bullet form starting with an overview, policy statements, and commitments. The document also has help and guidance on how to approach the subject The document has gone ahead to identify some of the careers for minorities and how they will interact with their working environment The document has attempted to explore all the possible scenarios faced by minorities and provided a focus as well as the importance of diversity. All the various disadvantaged groups have been identified and their concerns addressed separately.
This is because the issues affected each group are not similar hence the need to address their concerns categorically. Justification: The diversity policy document has taken into consideration the concerns of various minority and disadvantaged groups such as retirees, women, Aboriginal Australians, and African-Australians. International labor organizations and institutions fighting for the rights of minorities against discrimination have championed a policy document that is easy to read, archive and applicable across sectors of the economy. Negative Aspects The document is strenuous to read since one has to open each file to read the policy document for each group It does not address ways or give examples of some of the interventions taken when aggrieved parties were found to have been discriminated The document seems to give more weight on gender diversity neglecting the imperativeness of the other diversity groups The document has provided for separate action plans and traineeship programs in which the researcher will have to seek, hence consuming a lot of time It does not address the difficulties the mature people face in the workplace as well as African Australians.
The document only goes to addressing the issues and action plans in these areas without listing the various trouble they face in their workplaces There is an attempt to relate compensation and diversity without change of mindset among the majority of employees.
This emerges from the fact that the diversity document falls short of integrating all the employees. Justification: The document failed to provide a road map to achieving an all-inclusive and diverse institution. It should have also laid down the procedures of compensating for the lost esteem and discouragement. It has no cases in point or some of the interventions taken. Although it mentions the issues affecting the minority groups, it does not lay a sustainable model to full integration. It is, therefore, a poor example of a diversity policy document. Improvements: The diversity document should be detailed and elaborate on how to tackle pertinent issues affecting women and minority groups in Australia.
The document should address workforce training to accept and integrate with other cultures through interaction and exchange programs. The document should also be accessible and understandable to all the groups concerned and each milestone should be reported and communicated to all the affected parties. Effectiveness of the diversity policy. Actions of the organization that demonstrate how it supports and enacts on its diversity policy The document is highly recommended in the organization and the banking industry.
It has highlighted and brought out the various groups that need protection and inclusion towards an integrated workplace (Ozbiglin, 2009). For example, NAB acknowledges that diversity policy is good for the organization and all its stakeholders. It notes that the document is a commitment by the bank to fully embrace individual differences by way of diversity of thought. For example, the document has also been effective in building team diversity, respecting other people and cultures, attracting and retaining diverse talent, inclusive leadership programs, and community or voluntary initiatives. The policy provided the Pride@NAB initiative to create an inclusive and safe work environment for Lesbians, bi-sexual, gay and intersex.
It also launched a Reconciliation Action Plan (RAP) in 2008 to develop objectives and measurable outcomes. It also addresses employment opportunities for indigenous Australians. For example, the bank addresses issues regarding skilled African Australians by adopting the African Australian Inclusion Program with six months paid corporate experience in recruitment. NAB in 2012, became one of the organizations to make to the list in the Employer of Choice for Women ((EOCFW).
It was recognized in 2011 for the MyFuture program after receiving the Diversity@Work Award in the promotion and provision of opportunities. For example, the bank was awarded in 2013 the Australian Workplace Equality Index (AWEI) for being the most improved employer with regard to inclusivity and retention.
Barack ME 2010, Managing Diversity: Toward a Globally Inclusive Workplace. Sage.
Cornelius, N 2002, Building Workplace Equality: Ethics, Diversity and Inclusion. Thomson.
Groschl, S 2012, Diversity in the Workplace: Multi-disciplinary and International Perspectives. Gower Publishing, Ltd.
Ozbiglin, M 2009, Equality, Diversity and Inclusion at Work: A Research Companion. Edward