Creating A Diversified Workplace

It is an acknowledged reality that the world of work is not quite a level playing-field but by creating an environment where people from every background can thrive, we can make better companies.  There is a constant need for organisations to create an environment that accepts everyone's differences, embrace their strengths, and provide opportunities for all to achieve their full potential. An organization's success and competitiveness depends upon its ability to embrace diversity and realize the benefits. By valuing differences, the company allows each person to contribute their unique experiences to the workplace which can impact positively on not only internal activities and relationships, but the experiences of customers and other stakeholders as well.

Leading organizations are raising their sights, broadening their focus, and moving forward. These companies recognize that uncertainty is still part of the business landscape; but they also understand that the world is changing rapidly - and they are determined to get out in front by looking toward the future.

Changing Dynamics - Looking forward to the Future
There may be a raging debate about globalisation all over again but the reality is that we live in a world more connected than ever. We are now moving towards a world in which barriers to cross border trade and investments are tumbling and perceived distance is shrinking due to advances in technology. India is now being recognised as one of the prime economic driver in the global scenario with various companies coming to India to explore newer opportunity. In order to survive in this type of cut throat competition, there is a need for organizations to hire an effective and efficient workforce that can handle such a competitive environment.

Despite a growing share (42 percent) of graduating women, nearly 50 percent of them drop out between junior and mid-levels, compared to 29 per cent across Asia, there by placing India at the 87th position at the Global Gender Gap Index. There is a reservoir of untapped talent which lies in India's underutilised female population as many educated women refuse to join the workforce due to reasons pertaining to their family conditioning or safety concerns thus creating a lack of gender equitable hiring practices to create a demand pull.

Even with growing job opportunities, women today, hold only 7.7 percent of board seats and just 2.7 percent of board chairs in India and they lose representation rapidly as they move up the ladder . We believe a greater share of women at leadership levels will help build more roles models, women-friendly policies, practices, infrastructure, and mindset that will inspire other women to join and stay in the workforce.

Case for Inclusion
In the recent years, the business case for diversity has been echoed in corporate boardrooms and through every level of organizations. With hypergrowth companies - recruitment is on at break neck speed and  at a very different level of investment. Recruiting and retaining a workforce diverse in both demographics and ideas bcomes equally challenging.

The new concept of diversity goes well beyond the traditional equal employment opportunity. It calls for diversity beyond gender, values, or social norms that each individual lives. It calls for recognition of contributions of the individuals with diverse background and for the management to embrace differences and inclusiveness as they open up new opprotunities.

Gender and racial diversity are often lead indicators of a healthy organization that is aiming from a deeper pool of talent, accessing a deeper knowledge bank, and leveraging those resources throughout the business value chain.

To leverage the full potential benefits of diverse workforce, organizations are advised to realign the diversity management strategy to the overall business strategy and objectives of the organization. Making a business case for diversity, here are some significant ways in which diversity can be aligned to strategic business goals.

Build leadership and managerial capability - Greater diversity and inclusion requires deliberate programs tailored to the market. This calls for providing the necessary investment and programs to develop inclusive leaders who can ensure that the right support mechanisms are in place to achieve the benefits of diverse perspectives. Effective selection, promotion, and training processes along with appropriate reward and recognition programs helps build inclusive leadership capabilities.

Workforce flexibility - The concept of flexibility began with the aim to accommodate working mothers. Over time, this options blossomed from compressed workweeks to job sharing, telecommuting to adjustable schedules. From its birth as an employee entitlement, workplace flexibility has grown to become a requirement for organizations that want to make the most of its people's productive time. While workplace flexibility is vital for many employees and a welcome option for others, it is just as beneficial to organizations.

Hold leaders accountable - Companies are developing results-based metrics designed to promote greater diversity throughout the organization and integrate into leaders' performance assessments. These efforts need to be accelerated.

As the economy becomes increasingly global, our workforce will also become increasingly diverse. Organizational success and competitiveness will ultimately depend on the ability to manage diversity in the workplace effectively.