Human Resource Management Essay Example | Topics and Well Written Essays - 2750 words - 1

Human Resource Management - Essay Example7 Diversity and Employee Retention .. 8 Legal and ethical issues specific to strategic talent management 9 Diversity issue at Cityside Financial Service- instance Summary 9 The legal issue . 10 Ethical Issue 11 Managing the legal and ethical issues of Diversity . 12 Conclusion .. 13 References 14 Introduction Successful management especi bothy in todays increasingly diverse workforce is one of the near important orbiculate ch bothenges that tender-hearted resource management and corporate leaders face. Immigration, employees migration and gender, class, religious and ethnic differences continue to dramatically impact the composition of workforce and hence corporate managers are ineffective to fully comprehend its dynamics and unleash the potential that is embedded in a multicultural working environment. Human capital for no doubt is the most valuable and powerful assets of an organization. Effectively managing the mankind resources i s therefore extremely critical to the success of a firm to help it gain competitive advantages and achieve all other organizational goals. Managing diversity and business-success are closely related because, when diversity in an organization can be effectively managed, the outcome will be that the workforce will be very productive, highly satisfied, extremely happier of the working environment. Many of the large multinational companies depend on different types of staffing like ethnocentric, geo-centric and polycentric and all these approaches in turn create more diverse workforce making it harder to effectively manage it. This research paper explains general impacts of diversity on human resources management and organizational development. This paper will detail some specific issues that diversity in an organization can pose for hiring, management, retention and development etc and exposit legal as well as ethical issues in relation to the strategic talent management at City-side Financial Services. Managing Diversity There feel been greater efforts to implement various programs and activities to be used in organizations as part of diversity management. Managing diversity actually constitutes most important area of global corporate efforts and it can be considered as relatively new organizational paradigm. It encompasses innovative thoughts, evolution and knowledge that management can integrate and incorporate these elements for a better practice of diversity management (Ozbilgin and Syed 2010, p. 1). As Ciscio (2002, p. 121) stressed, managing diversity is establishing and developing a heterogeneous workforce so that employees potential can be performed in an equitable work environment, and a member or group of members gain no advantage or disadvantage over others. More specifically, people in an organization may belong to very different age, gender, class, religion, ethnicity, education, culture and social background. Human resource managers are expected to manage them all in bear on consideration, as no one among them gains advantage over others. Managing diversity thus ensure equitable work-environment for all its people. Diversity