Diversity issue has been founded in the banking sector of Oman which impacts on the performance of banks. In banking sector, if there is low level of cultural diversity then it creates excessive risk. The organizations with diversity among the workforce then it increase the chances of innovation. It helps to add competitive advantage to the banks by contribution of innovative ideas by diversify workforce (Barak, 2016). It is founded in the studies that there is lack of diversity in the banking sector of Oman which impacts on decision making, quality of product and services, and poor resource management.
There is gender diversity in the banking sector of Oman it reflects that the women are under represent at senior level which shows that the gender diversity needs to be improved. Gender diversity one of the issues determined in the organization. It has been analyzed that there are very less number of women’s who are employed in Oman. In the year 2017, it is founded that nine out of ten are men who are appointed in the top level management of the organization (Ozturk, 2016). It reveals that there is lack of diversity in the banking sector. It shows that there are diversity issues which need to be improved in order to resolve diversity issues in Oman. The diversity issues is also arises due to lack of education facilities for women’s which make women incompetent to work in banking sector. It is the major setback which needs to be improved by the government by taking initiatives regarding the equal education opportunities for women in Oman.
Diversity at workplace is beneficial for the organization which helps to gain core competencies by the contribution of innovative ideas to achieve common organizational goals and objectives. Issue related to diversity includes conflict of common interest, cultural difference, generation gaps, different working style, and different communication style.
The initiatives have been taken by the banks in order to resolve diversity issues in the banking sector. The limit has set by the banks in broad level for managing diversity in an appropriate level. It helps to improve the decision making of the organization where the innovative ideas are contributed by diverse workforce towards product development, improvement in organizational performance, resolving issues related to organizational efficiency, and others.
Bank Muscat has taken the initiative towards gender diversity which helps to promote equal opportunities among males and females in bank. Bank has also celebrated women’s day to appreciate and empower women’s for contributing towards the success of the organization. Bank has taken initiative by improve HR policy of the organization. There are 48% women in the workforce who are working on managerial positions of the company (Ng, 2018). But there is still diversity issue in the banking sector of Oman which needs to be improved for the growth of banking sector as well as economy.
There are various strategies which can be implemented by the banking sector in Oman including the development of effective recruitment strategy of banks where equal employment opportunities should be given to the candidates irrespective of gender. The women’s are incompetent due to lack of training and educational support in Oman. Banks need to take initiative to conduct effective training and development programs for women’s which helps to develop skill and knowledge to make them competent to grab the opportunities to work in the managerial position of banking sector.
Diversity issues related to the cultural difference can be resolved by the implementation of common business practices. There should be development of effective communication framework which is followed by the team members irrespective of different communication styles among the diverse range of workforce. The organizational practices should be developed with no discrimination among the employees which helps to provide equal opportunities to every individual. Banks should start providing cultural sensitive training to the employees who helps to understand the cultural differences and respect those differences. The organization should conduct diversity awareness program for the employees which helps to understand the diversity at workplace so that issues related to diversity can be resolved.
Diversity at workplace is important for the organization which supports teamwork towards the achievement of competitive advantage for developing unique brand image globally. It is founded in the study that there are 75% of employees who are facing work culture issues in the organization (Athar, 2017). The generation gap between the employees impacts on teamwork and development of open communication culture in the organization. The research study has shown that the organization has gained competitive advantage with the diverse range of workforce. It helps to improve the quality of product and services by implementing innovative ideas to improve the business process. The organization should improve the recruitment process which helps to provide opportunities to recruit diverse range of workforce towards the organizational success. Diversity management should be done in order to improve the performance of employees by satisfying them with the treatment of equal opportunities among the employees.
The organizational policies should be developed adhering diversity workforce with the integration of mission and vision of the company. The development of a diversity training program is beneficial for the organization which helps to improve the organizational performance by increasing employee engagement, retention, and productivity. Thus the diversity management is important for the organization which helps to increase organizational performance towards the achievement of end goals within the specific period of time.
Barak, M.E.M., 2016. Managing diversity: Toward a globally inclusive workplace. Sage Publications.
Ozturk, M.B. and Tatli, A., 2016. Gender identity inclusion in the workplace: broadening diversity management research and practice through the case of transgender employees in the UK. The International Journal of Human Resource Management, 27(8), pp.781-802.
Ng, E.S. and Sears, G.J., 2018. Walking the talk on diversity: CEO beliefs, moral values, and the implementation of workplace diversity practices. Journal of Business Ethics, pp.1-14.
Athar, M.R., Fatima, A. and Malik, M.T., 2017. Challenges and Issues of Recruitment and Selection: The Case of Islamic Banks. Pakistan Journal of Islamic Research, 18(1).