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    The Costs and Benefits of Diversity

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    Romana Changezi
    This document discusses the costs and benefits of implementing workforce diversity policies in European companies. It notes that companies that adopt diversity policies can strengthen their long-term competitiveness, but systematically measuring the costs and benefits is important for making the business case for greater investment. The document outlines obstacles to investment in workforce diversity and the role of government in overcoming these challenges. It also describes an evaluation project to assess indicators for measuring the costs and benefits of diversity policies in EU companies through a literature review and company interviews.

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    The Costs and Benefits of Diversity

    Uploaded by

    Romana Changezi
    256 views16 pages
    This document discusses the costs and benefits of implementing workforce diversity policies in European companies. It notes that companies that adopt diversity policies can strengthen their long-term competitiveness, but systematically measuring the costs and benefits is important for making the business case for greater investment. The document outlines obstacles to investment in workforce diversity and the role of government in overcoming these challenges. It also describes an evaluation project to assess indicators for measuring the costs and benefits of diversity policies in EU companies through a literature review and company interviews.

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    This document discusses the costs and benefits of implementing workforce diversity policies in European companies. It notes that companies that adopt diversity policies can strengthen their long-term competitiveness, but systematically measuring the costs and benefits is important for making the business case for greater investment. The document outlines obstacles to investment in workforce diversity and the role of government in overcoming these challenges. It also describes an evaluation project to assess indicators for measuring the costs and benefits of diversity policies in EU companies through a literature review and company interviews.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    256 views16 pages

    The Costs and Benefits of Diversity

    Uploaded by

    Romana Changezi
    This document discusses the costs and benefits of implementing workforce diversity policies in European companies. It notes that companies that adopt diversity policies can strengthen their long-term competitiveness, but systematically measuring the costs and benefits is important for making the business case for greater investment. The document outlines obstacles to investment in workforce diversity and the role of government in overcoming these challenges. It also describes an evaluation project to assess indicators for measuring the costs and benefits of diversity policies in EU companies through a literature review and company interviews.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    The Costs and Benefits of European Commission Diversity Center for Strategy and

    Click to edit Master subtitle style

    Evaluation Service

    Murad Khan Sajjad Rizvi (Workforce Diversity) -Professor Aftab 10th September -2011

    Salient Points

    Companies that implement workforce diversity policies help to strengthen longterm competitiveness Systematic measurement of the costs and benefits of workforce diversity policies is important for building the business case for greater investment

    Obstacles to investment

    A complex group of obstacles limit the scale of investment in WFD Public policy has an important role to play in tackling these obstacles As the business case for investment in WFD is fragmented, actions by Govt. and other actors is required to overcome the challenges esp. by using the experience of firms that have invested in WFD

    EU Directives

    EU directives equal treatment in employment Methods and indicators to assess the costs and benefits in the EU context Indicators will form a critical part of the business case for WFD

    Project in three parts


    Setup activities + Fieldwork + Main report Assess existing indicators how effective are they in a European context? Develop a new PM framework for the costs and benefits of diversity policies Literature review survey of 200 companies in four EU countries Extensive programme of interviews

    WFD in Enterprises

    A diverse workplace is difficult to define Depends on the internal culture Difficult to measure the shifts in values WFD policies are adopted for three main reasons ethical, regulatory and economic) here the focus is on the economic reasons and linked to competitive advantage

    Economic reasons are:


    Diversity investments are taking place due to changes in = product markets Labour markets Capital markets Government influence Wider social values

    Benefits of WFD

    Strengthen long term value drivers Improve cash flows (ROI benefits) Resolve labour shortages Open up new markets

    Costs of WFD

    Legal compliance Cash costs of diversity Opportunity costs of diversity Business risks of WFD

    Performance Measurement Framework

    Why are the costs and benefits of investing in WFD measured by firms? Measurement drives action Assess ROI Justify the opp. cost Learn lessons for future similar investments

    Proposed Model Approach


    This has three parts: I. Programme implementation II. Diversity Outcomes III. Business Benefits

    Indicators of WFD

    PROGRAM IMPLEMENTATION Top management commitment; Diversity strategy and plan; Organisational Policies; Employment Benefits; Managerial incentives; Organisational structures; Reporting process (monitoring and evaluation); Communication; Support networks; Education and training; Productivity losses

    Diversity Outcomes - I

    Workforce demographics (representation); and Employment culture/working environment

    Business Benefits - I

    Cost Reductions; Labour shortages; Access to new markets; Improved performance in existing markets; Access to talent; Global management capacity; Innovation and creativity; Reputation with governments and other stakeholders; Marketing image; Cultural values

    CONCLUSIONS

    The business case for WFD is fragmented and complex More advanced in the USA than in Europe Dissemination of this report has to be effective

    RECOMMENDATIONS

    Develop case studies Invest in company surveys across the EU Support for a network of diversity promotion organizations Develop new tools for measuring the benefits of WFD programmes Support EU level conferences National studies links between diversity investment and business benefits

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