This paper highlights the challenges and strategies for managing workforce diversity in Multinational Corporations. This paper takes into account the various issues involved in managing workforce diversity, cross cultural diversity, and how various corporate houses are practicing on the issue of workforce diversity, while going global.
For Indian companies, managing a diverse workforce is no longer a choice but an imperative. Multinational Corporations know that attracting, retaining, and effectively managing a diverse workforce is critical. Managing Workforce Diversity can help professionals and managers deal with today's diverse workforce more effectively in order to attract and retain productive associates in a competitive global economy. Many approaches have been used in MNCs to manage diversity. The most common are training sessions, subordinates' feedback, performance appraisals, and reward systems. Whatever strategies are used, the common goals are fostering staff commitment to diversity, recruiting and empowering staff champions, identifying the value added to the system by group differences, and empowering staff through skill development. What is clear is that having a diverse culture within an organisation does not ensure that a company will improve its effectiveness in researching, developing or commercializing new products in the global market place. It is how an organisation organise this diverse workforce that will harness the advantages they bring.
