Managing Diversity at Cityside Financial Services Essay - 1

Managing Diversity at Cityside Financial Services - Essay Example It should be noted that the impact of diversity on human capital management and development is multi-dimensional, i.e. it has different forms and characteristics, being aligned with the environment and the culture of each organization. The above trend is verified in the literature published in the particular field. In accordance with Stalcup (2008) the promotion of diversity across an organization could be secured through a series of different plans; the introduction of succession policies that ensure diversity at all (or certain) levels of the organizational hierarchy would be a potential plan of such kind (Stalcup 2008, p.14). In other words, diversity could affect the human capital management of an organization by setting the criteria on which the succession policies of the specific organization will be based. At a next level, diversity sets the term under which the hiring process of an organization will be developed; this fact is highlighted in the study of Sistare et al. (2008, p.16) where emphasis is given on the importance of diversity for the specific part of an organization’s human capital management, i.e. the hiring process. Moreover, it is explained that diversity, as a criterion used for hiring staff, does not threaten the integration of the organization. ... organization’s retention and HR development policies (for instance, the training programs provided to employees of a particular organizational development); the rewarding policies of an organization should also take into consideration the needs for increased diversity in the workplace (Mathis et al. 2008, p.48) Apart from the issues discussed above, another fact should be made clear: diversity could also affect the organizational development in general, i.e. not just the human capital management processes. This issue is explained in the study of Vallabhaneni (2008); in the above study, reference is made to the need for restructuring of the organizational environment in order to promote diversity across a particular organization; in other words, organizations that strongly support diversity have often to update/ restructure their environment in order ‘to respond to the needs of diverse groups of employees’ (Vallabhaneni 2008, p.238). In this way, diversity is get i nvolved in an organization’s development, setting the rules for distributing tasks and organizing activities across the particular organization. The direct involvement of diversity in organizational development is made clear through the following fact: diversity in the workplace has been among the key trends of the human capital management of the 21st century (Lewis et al. 2006, p.20); HR managers who are most capable of responding to the needs of diversity in the workplace are most likely to succeed in organizations of various industrial sectors (Lewis et al. 2006, p.20). In this way, diversity becomes one of the criteria for evaluation of the capability of HR managers to face the challenges of modern market; it is expected that their decisions will be also aligned with the need for increased