MGMT 374 Chapter 1

Doing business in the late 1950s to early 1960s

Women aren't respected, men smoke and drink in the conference room, careless.

The Unemployment Rate is Skewed by:

1. Discouraged Workers 2. Underemployed Workers 3. Workers who are employed "off the books" and collecting employment. MAKES RATE HIGHER

Benefits of Acknowledging Diversity

1. Opportunity to develop employee and organizational potential 2. Ability to Recruit the Best Employees 3. Ability To Compete In A Diverse Marketplace 4. Flexibility

Cost of Ignoring Diversity

1. Reduced productivity 2. Corporate Image 3. Financial

What percentage of minorities hold senior MGMT positions?

3%

Opportunity to develop employee and organizational potential

Higher morale. People are motivated to advance and seek training because they are evaluated on their skills and contributions to the organization. -Studies have shown that diversity helps companies to do better on all levels of performance. People with diverse backgrounds bring different ideas. Diversity shows that people of different races work together and think different than people of all the same race.

The Workforce

The civilian labor force is defined as all non- institutionalized persons over the age of 16 who are either working or looking for work.

Unemployment Rate

Unemployed workers who are actively seeking employment. /US Labor force. Lowest rate is North Dakota. Highest is Mississippi.

Flexibility

a diverse work force is more creative and adaptable than a homogeneous work force.

Ability to Recruit the Best Employees

allows the development of a qualified trained work force.

Secondary Dimensions

are characteristics that can be changed. EX. educational level, appearance, skills, pay, socio economic status, geographic location, religion, work experience, political associations/beliefs, membership in organizations, marital status, parental status, values/beliefs/attitudes.

Primary Dimensions

characteristics that can't be changed. Ex. gender, race, size, sexual orientation, ethnicity, upbringing, race, disabilities, build.

Financial

company loses resources invested in recruiting and training when a dissatisfied employee leaves.

21 of the Fortune 500 companies have

female CEOs.

Reduced productivity

individual and organizational productivity is reduced when people feel unaccepted or experience prejudice.

30% of the U.S. Population

is made of minorities (Native Americans, Blacks, Latinos)

Who is not included in the labor force?-

o Retirees o Children under 16 o Full time homemakers o Severely disabled o Students (not seeking employment) o The institutionalized o Independently wealthy o Discouraged workers

Ability To Compete In A Diverse Marketplace

organization can better understand and reach more markets.

Underemployed Workers

part time employees who desire full employment or employees who are employed below their skill level. MAKES RATE LOWER

Discouraged Workers

people who have stopped searching for employment. MAKES RATE LOWER

Corporate Image

reputation of the organization as a good place for people to work. Affects the ability to hire and sell products and services.

Women make up

slightly more than 50% of the workforce.

Workforce Diversity

the varied personal characteristics that make the workforce heterogeneous. -many of the baby boomers make up the workforce and are expected to work past age 65. -many countries are experiencing more immigrants in the workforce, not just the U.S. (Canada, Germany, UK, etc.) -many companies have adopted HR programs which focus on workplace diversity which try to hire minorities. -some companies make it a point to include diversity in the workplace such as FedEx.