Topic > Competitive global market: the case of Novartis...

In 2014 Novartis Pharmaceutical Corporation (NPC) took first place in DiversityInc's Top 50 List (DiversityInc, 2014). More than twelve hundred companies participated in the annual survey, but only 50 were nominated. NPC, a company with more than eight thousand employees, was able to achieve this through creative initiatives and strong leadership support. Therefore “the executive leadership team's annual performance management objectives include a 20% weighting towards people-related objectives, which have specific diversity objectives”. The company has a Diversity and Inclusion Department and an Executive Council for Diversity and Inclusion. This department helped develop a strategic planning process and build a diversity training program. Rhonda Crichlow, Vice President and US Head of Diversity and Inclusion at NPC, says that “the company believes that diverse backgrounds and experiences bring value in many ways, helping us meet the needs of patients and customers while immeasurably improving our work environment and by enabling all employees to fully contribute, maximize their potential and ultimately meet our business priorities.” Unfortunately, EchoStar does not share the DiversityInc Top 50 List winner's views, paying little attention to the issue of diversity. Measuring impactAccording to the Human Resources department, EchoStar has not conducted any surveys related to workplace diversity in more than five years. The company has no statistics on minority and ethnic groups, and diversity is not mentioned in annual reports provided to employees or the public. A company with more than four thousand employees such a situation is unacceptable. This low diversity… middle of the paper… large diversity survey. Another proposal with the aim of attracting new customers is for EchoStar to develop a completely new marketing strategy aimed at different demographic groups by broadcasting targeted advertisements. All these initiatives will attract more stakeholders, diversify the customer base and improve the financial position. Conclusion A diverse workforce is one of the greatest strengths in a competitive global market. EchoStar must strive to foster a culture that honors mutual respect and collaboration. After implementing diversity management initiatives, Ortho Pharmaceuticals saved $500,000 due to decreased turnover rates among women and ethnic minorities (Taylor & Blake, 1991). This is a good example of how well-developed diversity initiatives not only make employees feel valued and respected, but also have a positive impact on the financial bottom line.