Cultural Diversity in Professions
The focus of this report is JPMorgan Chase (NYSE: JPM); one of the oldest and well-known financial institutions in the United States. The bank has a rich history that dates back to over 200 years. Today JPMorgan Chase is a global financial giant with assets of $2.4 trillion and operations in over 100 countries. The bank employs roughly 235,000 people around the globe.
The Bank's consumer base has a disparate array of clients ranging from individual consumers, small businesses to corporations and governments. The Bank is a class apart as a financial institute and a leading figure in:
Investment banking
Financial services for all kinds of consumers
Commercial banking
Financial transaction processing
Asset management (JPMorgan Chase, 2016).
Availability of diversity-driven content
In the 'About us' section of the Bank there is a tab titled "diversity" followed by the CEO's statement that speaks of "importance of diversity" to the Bank (JPMorgan Chase, 2016). The homepage too has a link labeled "Careers" which explains how the bank is "A workplace for everyone" and "Cultures." The company goes the extra mile in trying to explain its vision of "respect, value and support." This treatment is extended to clients and employees alike. In the 'diversity' and inclusion webpage, the company talks of diversity as a foundation of their globalization, one they continually build upon by keeping in sync with the following approaches,
Recognizing talent and developing plans accordingly.
Pursuing a diverse assortment of applicants for key jobs.
Structuring a proper framework for hunting diverse talent by working with key industry groups and universities.
Show aggressive involvement via resource groups, open discussions, and annual forums.
The company exercises extensive usage of multicultural marketing strategies, and 'joining communities' drives (JPMorgan Chase, 2016). The multinational is fully committed to encouraging and supporting diversity in the company ranks. The company realizes the importance and the benefits of having diversity not just for the sake of a multicultural environment that promotes growth, but also focus on the wide range of clientele that the company serves, each consumer is different and many are from different ethnic and cultural backgrounds. The Company thus recognizes 'cultural inclusiveness' as a strength. The company follows a policy of inclusion and an atmosphere of satisfaction and happy workers, making them want to come to work (David, 2015).
A picture of the JPMorgan Chase employees is posted on their website and it is a wonderful blend of culture, gender, and race. The good balance promotes a healthy work environment for all. This picture also promotes the company's desire for talent, all employees are hired on the basis of their capabilities and never discriminated on the basis of caste, color, creed or sex or sexual orientation. This kind of multicultural corporation image promotes a positive image of the company and also inspires others to follow suit.
Advantages of Diversity
Diversity does not just promote a company's global image it is also very useful for the following reasons,
It shows the stakeholders a company's position and how it approaches the matter of diversity.
It shows that a company is not stuck on a premise and likes to approach and explore diverse talent and avenues when searching for their employees.
Diversity in the workplace promotes a diverse set of clients.
Diversity is a vital aspect of any corporation; larger companies cannot hope to survive a highly globalized, competitive market without having a diverse set of skills and talent on board to offer fresh perspective (Walter, 2014). Business reputation is sometimes everything and nothing improves that image quite like diversity does. When a company shows commitment to diversity, fair recruitment and an aggressive outreach for all kinds of talent, they are basically enhancing their image and expertise by tapping in to a wider pool of applicants. Some consumers show their loyalty to such companies for being so socially responsible (Mayhew, 2016).
Pertinence of diversity related photographs and graphic material
The company shows black, white, Asians working together and in a culturally diverse and balanced environment (Dimon, 2016). There is an equal distribution of male and female employees, showing the company's approach is diverse as well as free from any gender biases. Even the recruiters' show diversity making sure that no one questions the talent hunters regarding any biases. On their website the company explains how their success is gotten -- their respectful and fair treatment of employees and clients alike.
Viewpoint
The website depicts the company's serious effort in the direction making diversity a core principle of their company's identity. So far, the following approaches have been added to the company's system,
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