As the United States becomes more diverse, ethnically and otherwise, the pressure on companies to reflect that diversity through their hiring practices has grown. But diversity—and its sibling, inclusion—is not as simple as adjusting demographics. The authors detail how companies can conduct effective diversity management, providing insight into the myriad benefits, needs, and challenges of a more diverse workplace.
Diversity in the workforce drives economic growth and contributes to the success of individual organizations as well as the national economy. It is a core strength of the United States, and it will grow in importance as the country becomes increasingly diverse. Workplace diversity promises great benefits, but it also presents great challenges.
Diversity management is a process that leads to a positive work environment where the similarities and differences among employees and all persons are valued. Research confirms a positive correlation between successful diversity management and organizational performance. As such, diversity and inclusion have become integral parts of the Big Four’s plans for the future of the accounting profession. This article discusses the opportunities, needs, benefits, and challenges of diversity management, as well as recommended approaches to reap those benefits.