CGF Research Institute (Pty) Ltd
 

Diversity management

 

Diversity is a fact of life in today's globalized economy.  In South Africa , the 1994 demographic transformation placed the richness of the country's diverse heritage in true focus.  This heritage is echoed in corporate South Africa and is underpinned by variables such as globalization, the ICT revolution, national legislation, the transition to an ‘open' economy, a renewed emphasis on human capital issues, and the need to address the socioeconomic inequalities of the past.  Transformation of companies to meet these demands cannot occur through change in structures only, but also through changes in systems, ideas, values and attitudes, and through the development of an appropriate company culture that manages change and its implications.

 

All companies have inherent capabilities for managing diversity.  These must be enhanced through motivation and training to ensure that all stakeholders are committed to enhancing diversity, valuing differences and similarities in order to meet the objectives of the company.  Management of diversity has many benefits such as improved company morale, greater competitiveness, improved productivity, creativity and sustainability, all of which - as research has abundantly shown - impact favourably on the bottom line.

 

Conversely, failure to manage diversity has costly implications; reduced productivity, poor corporate image and reputation, poor financial performance, and stagnation to name a few.

 


This newsletter has been supplied courtesy of CGF Research Institute (Pty) Ltd, a strategic partner of Proudly South African.

 

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