Managing Diversity

Essay by veryfrustratedUniversity, Bachelor's June 2013

download word file, 7 pages 0.0

1. Introduction

Our textbook defines diversity as "the ways in which people differ that may affect their organizational experience in terms of performance, motivation, communication, and inclusion" (Harvey & Allard 2012, p.14), whereas some authors rely on the assumption that diversity is a combination of "the varied perspectives and approaches to work which members of different identity groups bring" (Roberson 2004, p.6). For RBC diversity means "innovation and economic prosperity" (RBC diversity blueprint). Whatever the definition, it is clear that diversity encompasses numerous dimensions and aspects. For example, Loden describes two major dimensions of diversity, primary and secondary. Primary dimensions are things that we cannot change (Loden 1996). They include age, race, ethnicity, gender, physical qualities and sexual orientation. Secondary dimensions include topics such as income, education, religious beliefs, military experience, geographic location, parental status and marital status.

2. Background

Before analysing RBC's diversity management, a brief history will be given about the organisation.

In June 2008, the Royal Bank of Canada (RBC) acquired RBTT Financial Group (RBTT) creating RBC Financial Caribbean. As one of the Caribbean's leading diversified financial services companies, RBC provides a wide range of services including personal and commercial banking, wealth management, corporate and investment banking, insurance and trust and asset management services to a wide range of clients. With more than 100 years serving the region, RBC is positioned to give customers access to an expanded network of international financial services with a broader range of products and greater geographic reach. RBC has a presence in 20 countries and territories across the Caribbean with 125 branches and close to 6800 employees. The Royal Bank's organizational structure is one of bureaucratic structure (Gomez-Mejia et al n.d. p. 49). It is a top-down management approach with many levels of management. For the most part there...