Preparing a Career Development Plan
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LO 5
How are the career challenges of minorities both similar to and different from those of women in your opinion?
Chapter 5: Expanding the Talent Pool: Recruitment and Careers: 5.5 Developing a Diverse Talent Pool Book Title: Managing Human Resources Printed By: Cedric Turner ([email protected]) © 2016 Cengage Learning, Cengage Learning
5.5 Developing a Diverse Talent Pool As an employer, would you like to hire people who are extremely loyal to your firm and likely to remain with it? Are their groups of employees you might have overlooked who could help you grow your business? Firms look to diverse talent not only for these reasons but to meet their legal obligations to provide equal employment opportunities, employers often develop formal EEO/affirmative action policies to recruit and promote members of protected classes so that their representation at all levels within the organization approximates their proportionate numbers in the labor market.
However, the reasons to develop a diverse talent pool are not merely legal ones—not by a long shot. Today, ethnic minorities represent approximately 30 percent of the total U.S. population. In 2060, they are expected to comprise 60 percent of the population. These groups have growing amount of buying power. Some researchers predict that companies that fail to diversify their talent pools will have a hard time identifying with their target customers and competing with firms that do. But perhaps most importantly, as companies face tougher competition in the United States and abroad, they will need all the leadership, productivity, innovation, and creativity the talent pool has to offer. A diverse talent pool increases the range of human capital available to the firm.
Chapter 5: Expanding the Talent Pool: Recruitment and Careers: 5.5 Developing a Diverse Talent Pool Book Title: Managing Human Resources Printed By: Cedric Turner ([email protected]) © 2016 Cengage Learning, Cengage Learning
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