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Diversity management is a set of organisational culture rules that is created to manage employees’ feelings, attitudes, and motivation and enable them to deal effectively with all co-workers, regardless of their status. It is evident that diversity management was not included in the activity of Wells Fargo.
Diversity has an impact on the development of the company. First of all, a diverse workforce drives the economic growth and can capture a greater share of the consumer market. Hence, it gains more trust and loyalty from its consumers and more revenues as a result. Recruiting from a diverse pool of candidates means a more qualified workforce. This aspect is also vital in the contemporary business world. Particularly, in case the organisation follows the inclusive diversity direction in its recruitment and selection operations, it will create a positive employer’s image for oneself as compared to its competitors.
Diversity fosters a more creative and innovative workforce. Practicing diversity strategies, as it has been previously indicated, is a way of adaptation to the current business emerging trends to be beyond competition within the economic market even in the global scope. In any case, proper implementation of a diversity principle in the organisational process can bring numerous benefits to the company.
Current paper focuses on revealing the peculiarities of organizational diversity and equality of Wells Fargo. The paper shows diversity possibilities and competitiveness of the organization. This paper also provides description of Wells Fargo, its equality weaknesses and strengths. The description of this company helps to understand its vision and objectives, particularity, competitiveness and variety of services.
Further, this paper proves that for being more profitable Wells Fargo should foster the diverse environment. Besides, this paper pays attention to the ways of monitoring diversity and equality issues within an organization.