Identifying Deloitte & Touche’s Core Challenges
Deloitte & Touche faced a challenge with the limited number of women who could hold high-level positions. Although they were actively pursuing higher education, women typically stayed with the company for only a brief period and mainly held accounting positions. This is a problem because there would have been a lack of diversity in the company without women in jobs and leadership positions. A balance of men and women is necessary for a fair and productive work environment.
Understanding the Causes of High Turnover and Related Business Issues
The main reason for high turnover is that women do not feel valued. The following reason is the misconception that to excel in their careers, it is necessary to give up life values such as family. Many women are still uncertain whether their jobs will be secure when they go on maternity leave and will not be terminated.
Another factor in high turnover is the need for more female mentors. Many female workers feel lonely and uncomfortable in a male team. Perhaps they feel some pressure and need more freedom of action.
The industry’s dynamics have changed as a consequence of the recession. A recession is a sustained and significant decline in economic growth that lasts months or years. It is one of the phases of the economic cycle; it follows a boom and can turn into a depression (a severe form of recession). Highly qualified individuals are needed to rebuild the company, but high turnover makes this challenging.
Evaluating Leadership Communication and Its Impact
Lois Evans should have spoken out because that was the only way to influence the situation and solve the problem. The company’s management needs to understand the real reasons behind women’s feelings as much as possible when working with them. Only in this way can an effective solution to the problem be found.
Analyzing the Task Force’s Recommendations
The working group’s recommendations include establishing a women’s advisory committee, assuming a leadership position, forming a women’s task force, and appointing a representative to address women’s issues in the workplace. In this way, the company can address the issue of high turnover, achieve gender diversity, and enhance efficiency. Women will feel valued due to the advisory committee and protected through the women’s problem-solving position. Female employees will be able to perform their duties as efficiently as possible, thereby increasing Deloitte and Touche’s competitiveness.
Examining the Role of Gender Diversity in Organizational Success
Gender equality makes companies stronger and more credible in the marketplace, increases employees’ job satisfaction and commitment, and facilitates innovation. Gender diversity in the workplace means that employees with different abilities and experiences are gathered there. Mixed teams have more perspectives on the same issue, which is essential for the personal growth of team members and for creating plans for the entire organization.
Mixed teams have better internal communication. This is because women, for example, are more adept at reading non-verbal cues. An inclusive culture increases employees’ confidence that they have numerous opportunities within a company that values their input and contributions. In such teams, there is less employee attrition, which saves time and money on recruitment and less risk of missing out on incredible talent. Considering both female and male perspectives is crucial in product development and marketing.
Deloitte & Touche should correct the situation, as companies with gender diversity at the managerial level increase their efficiency. In particular, the positive impact is more pronounced when 30% of women hold senior management and executive positions (Brahma et al., 2021). This means that the pace of positive change will accelerate if as many companies as possible understand that this story is about social justice and economic efficiency in business. After all, programs that promote women’s careers eliminate wage disparities between women and men and create practices that make it easier to combine fatherhood with professional fulfillment, resulting in a significant increase in a company’s market position.
Women comprise half the world’s workforce and half of the new graduates with advanced degrees each year, a significant source of talent often overlooked or forgotten. As international movements for gender equality and diversity have grown, evidence of the significant business, economic, and social benefits of increasing women’s participation has emerged (Fine et al., 2020).
However, more knowledge is needed about how women drive organizational and productive change. What can be done to unlock women’s potential as transformers- without this understanding, efforts to increase gender diversity can devolve into superficial “numbers games.” Gender discrimination and harassment, lack of supportive policies and environments, and lack of role models for women are three significant barriers to success that can drive women out of the workplace. In companies with a top-down commitment to diversity and a holistic approach to gender equality in the workplace, characterized by clear goals and roadmaps, practical methods for creating inclusive workplaces are emerging. These include eliminating gender wage disparities and implementing mentoring and sponsorship programs for women.
Promoting Fair Hiring Practices and Reducing Discrimination
An important starting point for overcoming discrimination is an equal opportunity and a voice in the company. At the same time, the successful promotion of equality in the labor market depends on the active participation of workers’ organizations, employers, and other stakeholders. Gender equality in the workplace refers to the ability to choose a place of work, reach one’s full potential, and receive a decent wage (Robbins & Judge, 2012).
Ensuring equality in the workplace also has significant economic benefits. Employers who respect this principle have access to a more diverse workforce. In an equitable workplace, workers have more training opportunities and are often paid more, which generally improves the quality of the workforce. In an equal society, the globalization of the economy is distributed more equitably, which increases social stability and public support for further economic development initiatives.
While gender inequality is evident, it cannot be associated with overt discrimination, much less with negative prejudice against women. On the contrary, the attitudes of both managers and other workers toward women in the workplace are somewhat sympathetic. We can say that discrimination is forced. On the one hand, this is predetermined by the fact that women are forced to apply for “second-class” jobs, as it is caused by the need to combine the role of a family breadwinner with child-rearing responsibilities.
On the other hand, the actions of managers are also forced and caused by the labor shortage in conditions of economic recession, outdated technology, and a broken system of vocational training for workers. In addition to economic and organizational necessity, the actions of managers are influenced by prevailing societal gender perceptions, which are directly or indirectly reflected in the decisions they make. Thus, we are referring to background and hidden discrimination, which results from the combined effect of various factors, the most significant of which are economic and sociocultural factors.
Thus, failing to increase the proportion of women in these established, male-dominated industries will limit their potential to innovate and transform, thereby achieving positive global effects and reaping financial and organizational dividends from a gender-diverse workforce (King et al., 2018). Meaningful progress will require a concerted effort by various stakeholders, including policymakers, companies, investors, and industry associations—only by working together can gender equality and its associated benefits be achieved.
References
Brahma, S., Nwafor, C., & Boateng, A. (2021). Board gender diversity and firm performance: The UK evidence. International Journal of Finance & Economics, 26(4), 5704-5719. Web.
Fine, C., Sojo, V., & Lawford‐Smith, H. (2020). Why does workplace gender diversity matter? Justice, organizational benefits, and policy. Social Issues and Policy Review, 14(1), 36-72. Web.
King, M., Ortenblad, M., & Ladge, J. J. (2018). What will it take to make finance more gender balanced. Harvard Business Review.
Robbins, S. P., & Judge, T. (2012). Essentials of organizational behavior.