Diversity Management in Financial Insitution
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The document discusses challenges related to an aging workforce in Germany. It identifies several problems such as a skills gap between older and younger workers, financial constraints that make it difficult to attract new talent, and the lack of long-term planning to address aging issues. Several possible solutions are proposed, including mentorship programs, flexible retirement options, expanding talent searches globally, and creating a more collaborative work environment and culture. The discussion aims to evaluate different approaches and best practices for companies dealing with an aging workforce.
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Canada’s workplace is very diverse; Internationally Educated Professionals (IEPs) contribute to Canada’s diversity and as newcomers have to learn how to manage diversity in the workplace. IEPs should have an insight on how to harness the performance potential of an increasingly diverse workforce to improve business performance.
Facts indicative of the magnitude of Canadian workforce diversity:
1.Canada brings in 250,000 immigrants every year. Skilled immigrants constitute the largest group of immigrants to Canada.
2.Two thirds of Canada’s population growth from 31.2 million in 2006 to 33.5 million in 2011 came from immigration. By 2030, immigration is expected to contribute to 80% of Canada’s population growth.
3.The imminent retirement of baby boomers, currently representing 43% of the workforce will create a shortage in the workforce, which has to be bridged by immigration. The Conference Board of Canada estimates that Canada needs 375,000 immigrants a year to stabilize the workforce and ensure economic growth.
Thus, it is important for IEPs to learn how to successfully manage diversity in the Canadian workplace and be able to contribute to improve business performance.
What our presentation will involve
The group’s presentation will discuss diversity management in the workplace, by defining it and providing examples and personal experiences on how diversity enables innovation and turns it to competitive advantage for the organization.
The presentation will also cover benefits of diversity in the workplace, the requirements to instill diversity in the work culture, and the challenges associated with the process. Overview of the federal laws is included as well. Our report will also talk about government organizations that oversee the implementation of federal legislative tools.
The presentation will endeavor to highlight the inclusion and diversity practices adopted by Canadian corporations and the problems faced by newcomers in gaining acceptance of their education and credentials besides the challenges faced in communicating with a diverse workforce and harnessing its potential to increase business performance.
Actions
The recommendations are aimed at increasing the awareness of IEPs to face challenges and better manage diversity in the Canadian workplace, by
•Providing better information about important aspects of diversity
•making them aware of their rights and privileges
•Instilling pride and confidence, that despite the challenges the IEPs will face, they represent a talent pool that has made significant contribution to Canadian economy and society
•Help identify companies and inclusion practices that encourage and embrace diversity
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Globalization refers to the increasing integration and diffusion of ideas, culture, technology, and economic activities across national boundaries. Cultural integration is the increasing blending of different cultures worldwide and the spread of a dominant global culture, which some argue leads to a reduction in cultural differences and dilution of local cultures. The document provides sources for the student to read about globalization and cultural integration, and poses questions for the student to consider in developing a discussion on how globalization impacts cultural diversity internationally and within countries.
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- 1. Cane Mutiny Angie- Emrah- Kimmy- Steven
- 3. What is Happening? Erwin: VP of HR Frank: Human Resource Manager Matthias: senior employee worked for more than 20 years
- 9. The majority of the important knowledge in an organization is in somebody's head
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- 18. THANK YOU !