Thursday, May 17, 2012

Three Perceptions of Global Diversity Ranking Report

Recently released Globaldiversity ranking report, commissioned by Forbes Insights and conducted by Oxford Economic, based on a weighted composite index to compare and benchmark employee diversity across countries, industries and occupations.

The index is comprehensive and takes into account many different types of diversity. Three separate indexes compose the composite index: a country index based on 50 nations, both developed and developing; an industry index based on 14 industrial sectors; and an occupation index based on the nine core occupation categories used in ISCO (International Standard Classification of Occupations). This report provides a statistical look at worldwide workforce diversity data. The perceptions may include:

  1. The Progress of Global Human Society

·         Workforce Diversity Drive Culture Evolution: The culture worldwide varies, some traditional cultures may become the main obstacle for workforce diversity and societal progress. However, the industry leaders in the report take initiative to proactively support diversity, as they believe diversity will enable innovation and innovation is the power of business growth, the business development will further help make societal progress and economical improvement.

·         Female Workforce Drive Economy Growth: It’s worth noting that greater economic equality between men and women has been shown to reduce poverty rates, boost GDP and lead to better governance. In order to improve female participation rates, governments can adopt a number of proven approaches such as flex-time  initiatives, free or subsidized childcare, and tax breaks for married couples when both partners work.

2. The Power of Leadership Diversity

·         Breaking  Through Glass Ceiling: The proportion of women who have climbed the corporate ladder and made it to board-of-director status varies greatly among countries. The nations with the highest percentage of female board members are Norway (36%), the Philippines (23%), Sweden (23%). It’s not surprising that Norway is at the top of the list, since it was the first country to mandate a quota system for board participation in publicly listed companies

·         Businesses led by Female Leaders Outperform Market: Studies have demonstrated a positive correlation between women in leadership positions and a company’s financial performance. For example, in the Forbes 2010 “World’s 100  Most Powerful women” issue, a study of the stock performance of the 26 publicly traded companies run by women on the list discovered that, as a group, they outperformed the market, where most companies were run by male CEOs. On average, the 26 companies beat the market by 28% and their respective industries by 15%.

3     The Pipeline of Talent with Multi-dimensional Diversity

·         Build a Global Power House of Multi-culture Talent: The multi-dimensional diversity includes gender, age, ethnicity, disability, country of birth, skills and education, number of hours worked, language, and sectoral and geographical distribution, The vision of the diversity program was to be a truly diversified firm in terms of race, gender and organizational culture and to promote the principle of strength through diversity

·         Worldwide Point of View: Diversity program success has come from increasing understanding of the diverse characteristics of the workforce, and the use of a variety of approaches across as many aspects of diversity as possible. The biggest challenge could be to pick the best of the best.

Diversity Is Integral to Growth, the report concluded: A diverse workforce is critical to reflecting a global society and companies’ customer base. It allows executives to understand  their clients’ needs better and communicate more effectively. Additionally, diversity drives innovation and fosters competitiveness.

 In summary:: Diversity reflects human’s progress to make difference and gain wisdom via professional growth, to retool the modern culture via business influence and digital footprint.


Post a Comment