The Faculty of the Department of Business Essay
In this report, OmniBank’s Diversity Efforts case study would be taken into account to illustrate the significance of diversification in the contemporary workplace and simultaneously present the applicable solutions for the bank specific diversity issues. OmniBank, despite the medium-size that this suburban bank possesses, is growing at speed and concurrently satisfying the demands of individuals as well as small businesses.
Although the bank enjoys a profound customers base from different profiles, ethnicities and a large number of international customers as well as student customers with their “starter” account, OmniBank’s personnel seems not to be able to fully exploit the full benefits from its diverse customer backgrounds due to the homogeneity of the incumbents’ backgrounds as they are mostly male and mainly Caucasian.
What is more, the bank seems to be insufficient in providing modern services to meet the demand of student customers as they soon move on to college and would be likely to require more up-to-date and convenient ways of transaction. After taking a closer look on the issues, it is believed that the diversity need to be definitely valued and that expanding the bank’s employee base and social networks as it grows will turn to every constituency’s advantage.
Moreover, the process
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Last but not least, the action plans for measuring on accomplishments regarding the goal of greater diversity, both at the bank and in community outreach, can be put into effect through those steps. A conventional perception once believed that for a business to operate productively, financial forecasting, market studies, management models are major elements that deserve the fully attention to strive for answers. They are definitely critical factors for a good business, however, they are not quite enough for a sustainable and thriving one in the present economic context.
Nowadays, the diverse backgrounds and cultures of employees has started to make up a significant part in an organizational culture. Varner and Beamer (2011) stated that culture is the coherent, learned, shared view of a group of people about life’s concerns, expressed in symbols and activities that rank what is important, appropriate regarding attitudes and behaviors. As more and more cultures involve, the comprehension of diversity concept and its significance are more required of the organization constituencies.
According to Church (1995), diversity in an organization is a collective of individuals who differ from each other on one or any number of dimensions including culture, values, education, gender, marital status and ages. Since each individual is a part of the mainstream operation, it is indeed a matter to every single individual to be employed and respected, otherwise, they would find themselves battling to position their place and the whole organization would not be beneficial during that war.
In the following part of this report, a case study of OmniBank’s Diversity Efforts (Barrett, 2010, p. 274) would be examined to clarify basic idea about the importance in launching a comprehensive diversity committee to improve both the diversity of the employees at the bank and the diversity with which it interacts with its constituents. This diversity committee of OmniBank would perform specific action plans based on the provisions of specific charter, which are demonstrated in detail as below.
The first and foremost effort in constructing a diversity strategies program is to form a diversity committee at OmniBank to work towards the value of diversity in improving hiring processes and variety networking. Technically, the OmniBank diversity committee would comprise key employees from various backgrounds and levels to facilitate the organizational culture revamping so as to widen employee base in the workplace as well as encourage social networks that will benefit the bank’s constituencies.