Principles of management BBUS - Session 4: Diversity at Work

Management Fourteenth Edition, Global Edition Chapter 4 Valuing a Diverse Workforce Copyright © 2018 Copyright Pearson © 2018 Education, PearsonLtd. All Education, Rights Ltd. All Reserved Rights Reserved Learning Objectives 4.1 Define workplace diversity and explain why managing it is so important. Develop your skill at valuing and working with diverse individuals and teams. 4.2 Describe the changing workplaces in the United States and around the world. 4.3 Explain the different types of diversity found in workplaces. 4.4 Discuss the challenges managers face in managing diversity. 4.5 Describe various workplace diversity management initiatives Know how to find a great sponsor/mentor and be a great protégé Copyright © 2018 Pearson Education, Ltd. All Rights Reserved What is Workplace Diversity? Workforce diversity: the ways in which people in an organization are different from and similar to one another Copyright © 2018 Pearson Education, Ltd. All Rights Reserved Copyright © 2018 Pearson Education, Ltd. All Rights Reserved Types of Diversity • Surface-level diversity: Easily perceived differences that may trigger certain stereotypes, but that do not necessarily reflect the ways people think or feel • Deep-level diversity: Differences in values, personality, and work preferences Copyright © 2018 Pearson Education, Ltd. All Rights Reserved Why is Managing Workplace Diversity So Important? • People management • Organizational performance • Strategic Copyright © 2018 Pearson Education, Ltd. All Rights Reserved Diversity – Organizational Performance “On the bottom line, a 2015 McKinsey report involving 366 public companies across Canada, Latin America, the UK and the US found that ethnically, racially and sexually diverse companies are more likely to ability to have financial returns higher than average in the same industry. The report also found that companies with less diversity in their workforces have low performance and are statistically less likely to achieve above-average financial returns.” – Harvard Business Review Copyright © 2018 Pearson Education, Ltd. All Rights Reserved Exhibit 4-2 Benefits of Workforce Diversity People Management • Better use of employee talent • Increased quality of team problem-solving efforts • Ability to attract and retain employees of diverse backgrounds Exhibit 4-2 shows the three main categories of workforce diversity benefits: people management, organizational performance, and strategic. Copyright © 2018 Pearson Education, Ltd. All Rights Reserved