Importance Of Diversity In The Workplace

992 Words 4 Pages
College Paper 1
Paper 1. College Essay
It is high time that corporations and economies as a whole embrace the value that diversity plays in both the work place and our communities. Too long has this been thrown under the table and not given the attention it deserves. According to the Business Journal “Diversity represents a broad spectrum of people and perspectives, and includes acceptance and respect” (, 2016). As a matter of fact, diversity is the bonding agent that leads to team cohesiveness. Additionally, diversity in the workplace has played a significant role in the decision making process. Equally important is the end result or the return on investment, and diversity is a known contributor to the bottom-line. Although
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The advantages of team work extend to that of breaking down language barriers, and understanding cultural differences in customers. Even Jesus had a team of twelve disciples. Famous quotes show the importance of teams for example: “Two minds are better than one.” Ultimately, this aids in the quick turnaround time for resolving work related problems. Indeed, “It takes two hands to clap,” and rightly so, this is demonstrated, as team work has proven to be the model for achieving larger tasks and meeting rigid deadlines. According to Ethno Connect, a consulting company specializing in workforce diversity. “Employees from different backgrounds bring in a variety of solutions on how to achieve a common goal” (smallbusiness.chron, 2016). Moreover, organizations today realize that in order to be efficient, productive, and solvent; team work is of vital importance. In the final analysis, the benefits of similarities; in terms of age, sex, education, skills, attitudes values and beliefs play a significant role in establishing bonds. The more the similarities, the greater the chance of bonding. This fosters respect for each other and business decisions are made in a quicker turn around time, and with …show more content…
No longer one has to go with the flo. Moreover, the mix of women and minorities as board members has contributed positively. Evidence in support of diversity can be found in the news headline “Decision-making diversity pays off at TIAA-CREF” (Carpenter, 2013). This company clearly embraces diversity, and therefore derives significant benefits from doing so. TIAA-CREF is headquartered in New York and offers a broad spectrum of financial advice, investment information, and trust services to over 3.5 million investors. Researchers studying the impact on how diverse the board of directors is, noted that diversity is a key investment criterion for this company. In addition, they believe that a diverse board will be less obligated to management. CEO Roger Ferguson claims, “You get better answers if you have a diverse workforce.” (Carpenter, 2013). He goes on to explain that, before the crash of 2008, executives of his Charlotte, North Carolina-based branch of the company had a “knockdown, drag-out” fight regarding how much of their $430 billion portfolio should be invested in the sub-prime mortgage market. Fortunately, due to the aggressive nature of the company when it comes to diversity and fostering differences of opinions; they agreed to avoid the risk of investing in the sub-prime mortgage market. This turned out to be one of their most acclaimed decisions, and

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