Importance Of Workforce Diversity In Accounting Firms

Positive and Negative Effects of Workforce Diversity in Accounting Firms

Diversity is a concept that in simple words state as the acceptance and respect which differentiate the understanding and reorganization that each individual demonstrate. This gives the appreciation to humanity, environment and culture on the basis of interdependency. The alliances have been built across the level if differentiation so that all type of work related discrimination will be eradicate from the organization. There should be some boundaries are needed to set so that no type of self-identification could be done and no priority should be given to any culture and all the employee belongs with the different culture should be treated equally (Kristinsson, 2011).

Workforce diversity qualities may changes the environment of the Accounting firm. Stakeholder in accounting firm measures the connection and securities between the workforce differences and benefit/return on investment. It likewise affect between the workforce diversity qualities and individuals in the firm, for example, present and future representatives, providers, buyers, and the community, profit, control. The representatives from the different culture, religions may work in the firm however the point and objective is same for every one of the representatives so that is the reason it is important to move to understanding system from limited confining of assorted qualities which incorporates worldwide esteem chain and direction for the accomplishment of the points and targets of the firm (Sameer, 2015)

Employees from the different culture religion, cast and age are working in the workplace that affect the either in a positive aspect or negative aspect. Some of the positive affect may include the satisfaction level of employee’s competition and healthy environment; on the other hand some of the negative aspects include the conflict issue, no privacy, no security, miscommunication and many others. These negative and positive effects are important for the organization. They should work to eliminate the negative perception to build the positive perception strong. For the good welfare of the organization these are the aspects that need to be focused on first basis so that the negative effect should minimize in order to maximize the positive one (Lambert, 2016).

Diversity related qualities are an idea that in straightforward words state as the acknowledgment and regard which separate the comprehension and rearrangement that every individual illustrate. This gives the reward to humankind, condition and culture on the premise of interdependency. The partnerships have been worked over the level if separation with the goal that all sort of business related segregation will be annihilate from the firm.

1. What is the main benefit related to the diversified workforce?
2. Is there any effect of the diversified workforce with the accounting firm performance?
3. What should need to be the main plans and policies that are required by the managers in order to enhance the performance of the accounting firm?

Significance of Implementing Diversified Workforce in Accounting Firms

It has been observed that it is highly significant for the managers to analyze the main reasons to implement the system of the diversified workforce. In addition to this, it can be stated that there are numerous reasons that help the owner of the business to analyze the significance of the diversified workforce in the accounting firm. Along with this, it has been observed that with the incorporation of the various elements in the workforce the overall objectives of the organization can be obtained in the more effective and efficient manner. It is depicted in the study of (Eilifsen, 2014)., it is highly significant to apply the methods that can help the employees to attain their objectives in the more specified way. In addition to this, it has been found that accounting firm should need to make sure that the management must have to keep all the employees with the different backgrounds. It is denoted in the studies that word diversity mainly reflects the idea that how the people understand interprets and recognizes individual differences. Additionally, there are many elements that need to be considered with the help of the different variants in the system of the organization should have to realize in the way to make sure about the significance of the different work labor. There are many aspects that need to be measured so the more high level of performance can be gained in the more specified period of time. In addition to this, it has been observed that with the help of the various aspects that need to be analyzed for the accounting firm in order to make their performance more productive.

According to the past studies it has been observed that with the enormous and continuous efforts of the individuals in the accounting firm the overall productivity of the company can be enhanced. Along with this, it can be stated that with the accounting tools and ideas for the medium interference about the people with the diversified language and culture so that the employees can be able to communicate effectively with each other in the more productive manner. In addition to this, it is found to be difficult in order to manage the stuff within the organization along with the management of the diversified workforce of the employees in order to enhance the efficiency of the workplace (Wang, 2015). There are many aspects to manage the connection with the employees and the organization that can help the employer and the employees to attain the desire in the most effective and efficient manner.

Factors to Be Considered While Incorporating a Diversified Workforce

It has been observed that there are many factors that need to be considered while providing the management to incorporate the new and diversified work force so that they can be able to perform productively and in the more efficient manner (Dubois, 2013) In addition to this, it is found that with the help of the factors that are involved in the analysis of the accounting firm performance one should need to make sure that there are various types of people that can be the part of the change in the organization. It is denoted in the past studies that with enormous benefits that are involved with the practices of the people in the firm operations. The diversity is the concept that has been very important to understand. The role of diversity needs to be highlighted in a broad perspective with in the premises of organization. The role of diversity is found significant for the organization. The author of the study stated that the diversity is a factor which plays an effective and efficient role in order to achieve the organization goal (Sue, 2015). The concept of diversity elaborates that the people from different background and culture come in the organization. The implementation of diversity in the organization brings talent from several of other cultures which is be beneficial for the organization. The people from different culture have different way of thinking. They are the valuable asset for any organization because of the different background they have different sort of experience and knowledge which will be very useful for the organization (Miley, 2016). The author stated that the talent from different background and culture is very fruitful for the organization. Because the people from the different back ground are sharing their ideas and knowledge with other coworkers in order to achieve the organizational goals and objectives in the more effective and efficient manner, which will be fruitful for the organization the importance of diversity qualities is the idea that has been imperative to understand (Lander, 2013). The part of differences should be highlighted in a wide viewpoint with in the premises of organization. The part of differing qualities is discovered noteworthy for the organization. the implementation of  diversity management in the company so that the employees from the different background would be hire in the organization so that the company’s goals and objectives will be focused clearly and  will be achieved in more effective and efficient manner. Thus it has been said by the author that the diversity is one of the major factor that need to be focused on first basis in order to have good proper hiring system (Ettredge, 2014).

Impact of Workforce Diversity on Organization’s Goals and Objectives

The organization of the study will be based on the following aspect that is elaborated in this table

Source: https://atlas.media.mit.edu/en/profile/country/sgp/ 

The project is needed to be complete in the limited time frame as the author of the study is restricted to complete the project in the limited time frame. Because of this limited time frame the research will be conducted on the basis of some selected variable (Tepalagul, 2015). This is a vast topic that needs to discussed in detail but due to the limited time constrains the study will be focused on some important variables to analyze the impact of workforce diversity on employees and organization in an accountant firm.For gathering information be cognizant to the related research learning, that the information which will be utilized as a part of the exploration will legitimate and assembled from the correct source and theme is substantial to play out the assessment procedure (Klarsfeld, 2015). The examination is endorsed and the information is applicable as indicated by the business. The examination information of research is free from plagiarism.

For gathering information be cognizant to the related research learning, that the information which will be utilized as a part of the exploration will legitimate and assembled from the correct source and theme is substantial to play out the assessment procedure. The examination is endorsed and the information is applicable as indicated by the business. The examination information of research is free from plagiarism. 

The research methodology is the methodology used for the analysis of research to find out the perspective results outcome. The methodology of this research is based on the secondary data. In addition to this, it can be stated that the main element of the desired outcomes can be obtained with the help of secondary data. In addition to this, it can be stated that there are many elements that need to be identified that the research technique that is required to be used as the methods to obtain the results of research.

The research strategy of this research is based on the collection of secondary data and the strategies are changed and designed specifically for research purpose. These strategies are formulated and designed according to it’s describe data source that has been gathered from archives and internet which provides the perspective about secondary data.

The data that has used for the analysis is known as secondary data which is define as the data that has already recorded and collected by anyone else readily found from other type of sources. The secondary data is useful in a manner that is the faster data collection techniques; it is less expensive and requires fewer activities such as surveys and field trips. These types of data are not easily available and not adequate. Sometimes it may not meet the researcher needs. The information may be outdated or may be bias and inaccurate.

Research Methodology

The relevant information has been selected from the previous empirical studies. The fact and finding of the research has been supportive by the descriptive data. The building of data model has been specifying the relationship between two or more variables. The data has been explored through the computers. The different computer technology has been gone through the data volume in order to find about the trend related to organizational sales, product and customers

The data collection method will be based on the secondary data; this data is refers to the data which has been collected by some other sources than user. The secondary data can be obtained by organizational record and has been collected for the purpose of research. This is the data which is readily available. These data are cheaper and easily in access for the research purpose (Martin, 2014). In this research the author focuses on both of the data collection method that is secondary data. The secondary data is the data that is used for the research purpose and obtained by organizational record. This helps to meet the requirement of data with relevancy (Eileen, 2014).

The author of the study stated that there is no need to identify population again or to calculate the sample size in secondary data collection because the data is already used for the research purpose and their population had been identified and there is no need to calculate the sample size again (Duobis, 2015).

H₁: There is a relation between workforce diversity and organization performance

H₀: There is no relation between workforce diversity and organization performance

According to the find data it has analyzed that there is a significant relationship found between workforce diversity and organization performance. A simple linear regression model is applied for analysis. From the results it has been showed the adjusted R square is 0.589 which means that 58.9% variation is found that defines a good fit model, the value of R square is found 0.60 which gains shows that there is a significant relationship found between workforce diversity and organization performance. The value of F is found greater than 3.5 which is again the basis of evaluation that a significant relationship exist between both the variables. The value of alpha is found 0.00 at significance level of 0.05 which means that the value is less that significance level which shows significant relationship indication.

It has been found after the analysis that there is a significant relationship exists between workforce diversity and organization performance thus the null hypothesis is rejected.

According to the find data it has analyzed  that about 43.4% of respondent were very strongly agree, about 34% of respondent were agree, , about 18.9% of respondent were neutral and about 3.8% of respondent were disagree to the statement that there is a significant relationship exists between workforce diversity and organization performance It has been analyzed that about 37.7% of respondent were very strongly agree, about 39.6% of respondent were agree, , about 18.9% of respondent were neutral and about 3.8% of respondent were agree to the statement that diversity that is age, gender, sex, culture will affect the organization performance.

Conclusion

It has been concluded that work diversity and organization performance is basically a management science so it is not very easy to be researched as the time is very limited. Due to the limited time my focused of research is on one company that is accountant firm. This research is based on one variable with its sub variables as it is a very wider topic and employee’s survey from every region of firm is not possible. The structured of data collection is based on employees of the organization which has been conducted through the questionnaire Company has provided a limited information thus the research objectives has been fulfilled by the study that workforce diversity has been identified and level of organization has been measured. The relationship between workforce diversity and organization performance has found significant continues communication process between employers and employees has been identified and the contribution level of skills and abilities if employers and employees have been evaluated which influence the employee performance. Thus it has been analysed that the organization performance will be affected by workforce diversity.

Representatives from the distinctive culture religion, cast and age are working in the work environment that influence the either in a positive angle or negative viewpoint. A portion of the positive influence may incorporate the fulfilment level of representative’s opposition and sound condition; then again a portion of the negative perspectives incorporate the contention issue, no protection, no security, miscommunication and numerous others. These negative and constructive outcomes are vital for the association. They ought to work to dispense with the negative discernment to assemble the positive observation solid. For the great welfare of the association these are the perspectives that should be centred around first premise so that the negative impact ought to limit so as to boost the positive one.

Accordingly, this exploration venture will be led in light of the above rules given in the proposition to locate the ideal arrangement on the effect of workforce differences in accounting firm. Moreover, this study helps to reach the accounting principle in the globalized world. Thus, the result of the exploration will be productive in a general way.

It has been recommended  in the end that the company must focused on the implementation of  diversity management in the company so that the employees from the different background would be hire in the organization so that the company’s goals and objectives will be focused clearly and  will be achieved in more effective and efficient manner. The employees from different background will share their ideas and knowledge between each and other that are vital in the attainment of company’s goals and objectives.  The management of the accounting firms should need to implement these recommendations in order to make the system more appropriate and to analyze the overall situation of their organization in the more effective and efficient manner. With the help of the further elements the overall efficiency of the firm can get improved in the more productive way.

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