Reference no: EM132409782

Honeywell's foundation is to encourage employees to respect, understand and appreciate different viewpoints, backgrounds and experiences. Organizations are improving diversity by attracting, selecting, developing and retaining employees by placing employment ads in different institutions with substantial numbers of underrepresented minorities. Hiring diverse candidates can allow the organization to have the best and brightest employees which can lead to a more creative and innovative workplace. The company can obtain lower turnover cost and can adapt to the on-going changes to remain competitive in the economic market. Honeywell along with Microsoft and Nissan are developing programs for women that will allow them to be successful in their careers, encourage women into technology studies, and being committed to equality for women in their workplace.

Organizations are realizing that becoming diverse has both positive and negative aspects that can impact their business.  A negative effective of "culturally diverse workers have different opinions, thoughts, beliefs, norms, customs, values, trends, and traditions" (Martin Coote, 2014). A positive effect that it can have is the increase of employees to overcome culture shock which can allow the business to grow international. Another positive is having a diverse workplace allows the organization to have an advantage over their competitors. An economic benefit is workplace drives economic growth by having "more women, racial and ethnic minorities, and gay and transgender individuals enter the workforce" (Kerby, Sophia and Burns Crosby 2012).

Organizations are entering a global market and they need to set company policies that will better manage employee diversity for the competitive advantage. There are three trends in the global market that factor into the way an organization can conduct business as well as meet the needs of other cultures. The changing demographics and the percentage of races that will be in the workforce. The changing concept of America, which has been known as the melting pot should not be looked upon a giant multicultural due to the difficulty of identifying an individual's culture. Honeywell conducts business in a global market and they want all their employees to culture of the company and celebrate diversity for success of the organization.