A diverse workforce is one which is made up of different types of individual having experiences in different fields. Some of the key characteristics of the diversified workforce include race, gender, age, religion, etc. There have been many issues in terms of providing equality to the diverse workforce, and it has affected the performance of many companies. The present study is based on an evaluation of workplace diversity of DBS Bank by considering the type of diversity in the organization and also the ways in which it manages the diversified workforce. Further, the ways in which company can provide equality and diversity to all the employees have also been discussed.
According to Kirton and Greene’s, (2015), there are different types of equality and diversity organizations. The first type of organization is called as minimalist or partial organization in which the organization declares that it does not discriminate against any kind of social groups and will work in ways to claim the value diversity. Kumar, (2012) argued that in practice, equality and diversity both have a low profile in the companies and different policy statements which are set will have narrow business case orientation. It might also include the minorities of organizations that have not made proper equality and diversity policies and are running the business normally. These organizations are never able to develop the concrete measures that can help them to overcome all the discrimination and equality. There is no place for diversity in these types of companies and most of the people even senior managers for not take an interest in making any kind of change that can allow the company to perform. People in these types of organization are very unhappy and due to that turnover rates are very high.
Second types of organizations are called as compliant organizations which have a mindset of narrow business case orientation towards the equality and diversity. However, as per Aramovich, (2013) despite having narrow mindedness towards diversity and equality, these organizations do follow all kinds of legal obligations by using the ways of formal policies which are probably developed and implemented by the human resource department of the company. More and more emphasis is given at the time of recruitment and procedures are adopted in the terms of good HR practices. Most of the managers some employees in these types of companies resent and object to the various interferences made by the human resource department, but organization do lay stress on the implementation of all these policies. Organizations try to shift themselves from the individual level of diversities in order to downplay the social groups which are based on disadvantages and discriminations. These types of companies are practically stable, but still, there are lots of differences among the employees which affect the work culture on a regular basis.
As per Jackson, (2013) the third type of organizations are called as the comprehensive, proactive organizations which emphasis on the business case for equality as well as diversity. These types of organizations broaden their agenda in order to encompass elements of social justice case. Policies set by organization comply with the law and aims to develop and implement best practice and measures to bring out the proper workplace culture. They also measure the outcomes of different policies and practices so that their impact can be analyzed. The equality and diversity are set as the corporate social responsibility agenda so that everyone can be made happy and progresses in life. Different positive actions initiatives are taken by featuring different policies to ensure that the agenda can move beyond tackling discrimination in terms of making organization culture valuable. Goals of equality and diversity are directly linked to the performance objectives of different individuals and the organization. People in these types of companies find themselves very happy as they are given equal opportunity to grow and present themselves and valuable part of the company. Image positioning of these companies is also very appropriate in the market which helps them to grow and present them in a positive manner.
DBS Bank is world known multinational and financial services organization that has it’s headquartered at Marina Bay in Singapore. Previously, the company was known as The Development Bank of Singapore Limited (DBS Bank, 2017). This particular bank was set up by the government of Singapore on July 1968, and today it has more than 100 branches in different parts of the world. It is the largest bank in South East Asia in terms of assets. The company has more than 10,000 employees who belong to different parts of the world, and because of that, it becomes important for the company to follow the proper equality and diversity policies so that everyone can work with proper harmony and balance can be established in terms of culture.
The company seeks the diversity of people as its strength which has helped them to achieve all the goals and objectives which they have been seeking in Asian Market. DBS seeks to create an environment that can directly allows the employees to work in a culture that can give them growth, the potential to show their abilities, gain a diversity of experiences, knowledge, approaches, etc. which are necessary to drive performance as well as innovation. The company also tries to provide an inclusive work environment that can encompass the gender diversity and also a multicultural and multi-generational workforce. (DBS Bank, 2017)
From the annual report of the company, it was analyzed that 56% of the workforce of the company and also the one-third senior management positions are occupied by Women. Recently, in the year 2016, the company was among the top 10 companies in Asia for female financial services professionals in the financial careers. It also won the awards for Ideal Employer Ranking and Aon Best Employer for Women in Hong Kong, Indonesia and Taiwan. Because of all these diversity and equality policies, the turnover rates in DBS are very low. People like to work here, and they like the ways in which management handles different kinds of issues related to diversity and Equality.
By looking at all these features, it can surely be said that company is a comprehensive proactive organization that emphasis on the creating an environment where employees are taken care of. All the policies and practices that have been set by DBS clearly strive to provide the cross cultural environment to all the employees (DBS Bank, 2017). They try to conduct the audits on a regular basis to check whether all the employees feel comfortable while working in a company and if any issues are found related to harassment and gender biases, proper actions are taken. The company has made the cross cultural teams as its strength as they are able to use the experience of different kinds of employees and try to use them while adopting different kinds of strategies in order to get a competitive advantage.
However, it was also observed that there had been some instances which relate the features of the company to the compliant organization because despite embracing different types of policies for diversity and equality, managers in the company do not focus on these policies very much. Due to lots of differences, the work culture of the company sometimes becomes difficult to handle (DBS Bank, 2017). However, the company is still trying to remove all these issues and become a company that set an example of being the best company in the field of equality and diversity.
Thomas, (2012) said that there should be a strong commitment towards the diversities policies in the companies that not only promotes the inclusive culture but also develop the atmosphere employees are encouraged to succeed by using all their abilities. Inclusive culture should be in such a manner that it can allow the company to attract and retain the most talented workforce and encourage them to fulfil all their potential. Tatli, (2014) added that Workforce diversity should offer a competitive advantage that can act as a key contributor to the success of an organization in the various markets in which it operates.
Haynes, (2014) studied that in today’s world, companies should focus on gender based diversities and all the policies related to it should exceed beyond genders and cover the broad area of diversity and equality without the limitation of ethnicity, age, gender, sex, etc. The main objectives regarding the diversity policies should be to develop and embrace a diverse as well as an inclusive culture that can directly reflect the modern, contemporary workforce which can become the representative of the community in which it operates. Barak, (2016) included that all the organization, policies and procedures should be designed in such manner that it can promote a diverse workforce. Other than that, companies should also review the opportunities for women in different non-traditional roles and then target the areas to ensure the representation of women in applicant pools. Based on the equality and diversity policies, the company should appoint women to the senior level positions by increasing targeting and positioning of women in the development program and succession planning.
DBS is one of the best companies in the world that provides the proper distribution of staff at various levels in terms of gender, race, nationality, etc. Both the internal and external policies of the company have clearly mentioned the role of diversity (Washington, 2012). Gender in the recruitment process is given high preference by focusing on female appointments at various senior level positions and also in non-traditional roles. Females have given various active roles in the field of design, data, analytics, finance and leasing. Disable people are given special preference and various reserved positions which require office work having been reserved for them with equal pay as compared to other employees.
The company has offices in different parts of the world, and because of that, it prefers hiring national talent without any issues with nationality. In Singapore, the company has more than 10% of the population which is not Asian, and all have been working on higher positions with proper harmony. Staff is given position as per their talent and past experience and not on the basis of any kind of reservations (DBS Bank, 2017). Proper promotions of staff are done every year based on year all performance shows that each and everyone is given an equal chance and opportunity to prove themselves and gain positions. DBS follows the hierarchal structure where people are ranked at various levels within the company at each level one above other. The company has different types of positions including CEO, Vice President, CFO, COO, etc. and every individual has a number of workers directly under them with a proper span of control (Thompson, 2016). The flow of information is done properly however it takes time in decision making.
From the recruitment policies of the company, it can be analyzed that, DBS has been working without any racism in term of race, gender, religion, etc. Everyone is given equal chance of getting higher positions and roles. Proper evaluations of candidates are done before giving them job and selections completely based on talent and skills.
According to Zanoni, (2014) a diverse workforce demonstrates social responsibilities as well as social awareness that directly enhances the ability of a company to be competitive and make its presence into the new market. Diversity and equality policies are key strategies that are set in order to increase the satisfaction of employees which helps them to understand the needs of customers and find skilled staff to fill skill gaps. Sabelis, (2013) added that proper diversity and equality policies help the companies in a various manner which includes the improvement in the performance of employees, the image of employers, brand awareness and positioning. Other than that, policies also help the companies to make changes in organization and develop innovative and creative solutions for the problems that organization is facing.
Van Der Zee, (2013) analyzed that different policies and procedures should be set by the companies in order to promote the diverse workplace. It allows the employees to work together and share a proper bond that increases the workplace efficiencies. Policies and procedures also keep the employees under control and protect some people from being exploited and harassed. Proper policies maintain the work cultures which are very much important so that all the goals and objectives can be achieved in timely order (DBS Bank, 2017).
DBS has laid out a perfect definition of equality and diversity which says that it is a culture that actively values the differentiation and recognizes people that are from different backgrounds and experience. These people are very important as they can bring value to the company and can enhance the way in which company works. DBS aims to become an organization where the diversity is valued, respected by everyone and can help the workplace to perform even better (Paauwe, 2012).
In order to develop the culture with proper diversity and equality, there are various policies which are followed by the company. One of the biggest policies that are followed by DBS is called as Equality Act 2010 which protects the people in the company from discrimination in the workplace. As per this act, DBS is entitled to provide equal opportunity to everyone in the company without generalizing them on the basis of the case, religion, sex, disability, etc. Everyone has right to be treated in the same manner by getting the same facilities (DBS Bank, 2017). If this particular policy is not followed in Singapore, then have penalties are levied on both manager and company. It also protects the employees from not equal pays and position in the company as everyone has right to get paid as per their position and industry standards. Position in the company should also be given on the basis of experience and performance of employee without any biases (Gill, 2012).
DBS also follows the policy of sex discrimination under which it does not discriminate the employees on the basis of marriage, sex, etc. It is entitled to provide a favorable working environment to both men and women by giving them equal pay and opportunities. Also, proper maternity leaves are provided to women based on the industry standards and with no pay cut. The company also has a policy of human rights where every employee has the right to life and get protected from torture and inhuman or degrading treatment. The company provides liberty and security to all employees from any harm and follows all security measures. Personal and professional lives of employees are kept different, and they are also given freedom of thought, expression and belief (Acker, 2012).
From the annual report of the company, it was also analyzed that company follows race and religion act where no employee is discriminated on the basis of race and religion. Every employee is given freedom to celebrate the religion he belongs to, and also other employees are also encouraged to follow the same and respect every culture (DBS Bank, 2017).
Proper policies have been set in the company to follow diversity as per rules and regulations that have been set. Employees are told to consider everyone equal in the company by behaving them in an appropriate manner. No one is allowed to discriminate the people on the basis of their caste, gender and religion. Other than that, employees are also encouraged to celebrate different festivals by supporting other employees which help to maintain the culture of the company. No employee is allowed to touch the other employees in terms of harassments and other wrong motives (Gulick, 2012). If any employee is found guilty, then proper actions are taken against them with proper warnings.
According to Noon, (2014) modern workforce is far more varied in terms of its composition ever than before because of different demographic as well as economic factors. The levels of the diverse work force are increasing day by day in the companies and because of that different diversity programs are also growing steadily. However, it has been observed by Ho, (2012) that this relationship is not fostering properly and many organizations have reported issues with the failure of their diversity and equality initiatives. One of the biggest challenges that hinder the company in the implementation of diversity at the workplace is confusion between functional and non-functional diversity. Functional diversity is the form of diversity that is based on common statements like “we need to focus on diversity”. Woodhams, (2012) argued that in reality there are different forms of diversity that can easily be encountered which might not be related to the improvement of organizational effectiveness. Other than that, it was also initialized that the characteristics of the workplace are directly shaped by those who are responsible for decision making. Manfredi, (2012) added that perceived declined work ethic is one of the major contributors of generational conflicts among employees.
In DBS, there are various factors that affect the implementation of the equality and diversity policies. All these factors directly and indirectly also affect the culture in which people are working. One of the biggest factors that were analyzed was organizational policies and practices. Kortezi, (2013) analyzed that diversity and equality mean acknowledging the differences among people and recognizing all these differences as valuable. DBS had good management, but it was not helping them to work with a diverse workforce. It was understood that all diversity initiatives, directly depends on the working philosophy of employees. However, due to lack of information to employees from directors created a gap between the people who are being served and whom people like to serve.
Another issue hindered DBS from implementing diversities policies was perceived inequity. Despite great efforts of the bank to provide great hiring and promotion opportunities, there were still limited opportunities for women and minorities. However, in order to remove all these, different diversity workshops were organized, hiring patterns were changed, but they all failed to demonstrate the substantive commitments to the diversity (Mensi-Klarbach, 2012). There were lots of inconsistencies between the diversity policies suggested and the policies that were implemented. Most of the informal rules of conduct that were surrounded in hiring as well as promotion practices were directly linked to the power relations in DBS but were unspoken. All the policies became institutionalized which became difficult to socialize into the organization in order to check the behaviour, policies and procedures.
From the analysis of the issues that affect the implication of diversity and equality policies at the workplace, it can be said that DBS needs to change the way it works and should define proper rules and procedures so that policies can be set and implemented. All the perceived theories of people should be handled by talking to them so that these people can mingle with others by enhancing the workplace culture (Bell, 2013).
By auditing the DBS bank, it was analyzed that company falls into the category of being a comprehensive, proactive organization. The company has made the diversity and cross cultural teams its strengths which have helped it to achieve all the goals and objectives effectively. From the very beginning, the company has been trying to embrace different kinds of policies that can set up the equality and diversity. Employees are being provided with the environment where they can work with full potential without getting affected. Organization culture has also been set in such manner that allows the employees to use all their knowledge, abilities, etc. so that they can learn and grow in their career (Sánchez Gardey, 2013).
In term of the gender diversity, 56% of the higher positions in the company are occupied by Women, and they have been encouraged on a regular basis to perform better and better. From the annual report of DBS Bank, it was also analyzed that Global recruitment policies which aims to recruit the diverse pool of candidates by providing good positions to female candidates. DBS Bank also has a different leadership and development program which provides the opportunity for all employees to network with their senior managers and other talented people across the company (DBS Bank, 2017). This particular program enhances the business knowledge of employee that allows him to grow further.
Sustainability Report of the company also provided the information that company does not have any kind of gender biased pay discrimination. People are provided with the position and salaries as per their position in the company while matching with industry standards. Proper appraisals are given on year to year basis based on the last year’s performance. Outstanding employees are given awards at the end of the year without looking at the position on which they are working (Haq, 2012). The report also suggested that company has implemented diversity and inclusion education programs for its senior as well as middle-level managers so that they can understand the team better and can provide them with organization culture that grows their potential. The company on a regular basis identify and confirm a number of the high potential female employees and provide them with the educational courses related to leadership so that they can be handled higher positions in the company (DBS Bank, 2017).
However, by further analyzing the diversity and equality report of DBS ban, it was also analyzed that, the company also has some traits of being the compliant organization. Despite having great organizational culture, which incurs growth for every employee without any diversity, there have been some issues which have affected its performance. It was analyzed that there are some managers who do not take the policies of equality and diversity with seriousness (DBS Bank, 2017). Because of this nature of managers, there have been instances where employees have to suffer. It was found that there has been a lack of information that is provided to employees which have created confusion in the mindset of these people regarding the people who are being served and whom people like to serve. Another issue was the perceived inequity among the employees which hampers their growth and disrupts the organization environment. Despite having good diversity policies, they are not being followed consistently. All these issues are not raised in the firm and it made the policies institutionalized (Özbilgin, 2012).
It has become very important for DBS bank to review all its diversities and equality policies so that it can set an example of becoming a company with best policies in the market. One of the best ways by which company can improve the workplace diversity is by implementing the equality and diversity policies based on the principles of Equality Act 2010 that allows firms to create a culture that is based on fairness, inclusion and mutual respect for each and every employee without any biases (DBS Bank, 2017). Information regarding the policies should be communicated to the recruitment and Human Resource departments so that proper actions can be taken.
Another thing that DBS ban can do to increase the workplace diversity and equality is by raising the awareness regarding policies understanding all the principles of inclusion by providing proper training courses to the employees as well as managers. It will bring all these people come together and set up good working culture (Tatli, 2012). There should be proper implementation of anti-bullying and harassment policies to make sure that all the employees are aware of expected standards and the consequences if the policies are not followed properly. The main aim of this policy should be to prevent the different incidence of bullying and harassment occurring and also to provide the help centre to the employees who have faced these issues.
DBS Bank should also ensure that good communication channels are being placed which can include meetings and minutes of which should be available to every department (DBS Bank, 2017). Proper communication will help DBS to remove all the rumours about them and will encourage the employees to share their feelings appropriately. Other than this, fair recruitment and promotion process that does not discriminate among the people can also be developed. Steps can be taken by the company to increase the applications from ethnic minorities group (Oikelome, 2013). All the terms and conditions, benefits, pay and working conditions should be same for employees in the same grade. Further, opportunities can also be provided to employees with who the discrimination has taken place by raising this through formal grievances process.
The company can also use different surveys, questionnaire in order to evaluate regarding the effectiveness of policies and also to analyze the gaps. Diversity objectives can also be inserted in the job descriptions, appraisals, recognizes and reward achievements. The company should also ensure that all the relevant policies and procedures are up to date and in full compliances with the legislations (Belizón, 2012).
In order to analyze the working of DBS Bank various secondary sources of data were analyzed. Different organization documents were researched like the annual report, sustainability report, diversity and equality report, etc. (Zanoni, 2014). in order to find out the ways in which company is working and managing the diverse workforce and also the ways in which equal treatment is provided to them. Interviews could not be held with the staff due to company’s restrictions to discuss the internal matters. Other than company’s documents, various magazine and news paper articles were also analyzed to analyze the proper working of the company in different parts of the world (Woodhams, 2012).
All these analyses helped the researcher to analyze the ways in which company works and the different issues that it is facing in managing this diverse workforce so that proper recommendations can be provided.
This particular research was not the effort of the single member, but it is a group effort that reflects the success of the report (Washington, 2012). Everyone associated with the project was given different tasks like one was given the task to analyze the reports of the company regarding diversity and equality, other was given the task to find out the examples of other companies which are managing the diverse workforce. Everyone has worked really hard on this project and has used all the authentic data so that it can help the readers to understand the importance of equality and diversity (Van Der Zee, 2013).
With the help of group efforts, all the research is presented in a proper format that will provide all the information about DBS Bank and their operations.
Conclusion
Equality and Diversity have become the key factors that can easily take the company to new heights by providing them with an environment that fosters innovation and growth. This particular report was created in order to analyze different types of the diversity and equality organization and what are the implications of those types by considering work environment of DBS Bank. It was analyzed that company is pro active in forming different equality and diversity policies which provide equal opportunities, remove biases related to sex, caste, religion, etc. However, some traits were also found which has affected the implication of all these policies into the company. It is important for DBS to take proper steps in order to make sure that these policies are implemented properly and monitored on a regular basis. Everyone in the company is aware of them so that a culture can be created which fosters growth and welfare of everyone.
References
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Online
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