The Evolution of Workplace Diversity and its Impact on Organizational Success: A Comprehensive Examination of Diversity Management Strategies

Abstract

Purpose: The manufacturing industry in India is one of the largest sectors and it is continuously attaining growth and development. As focused by the NMCC (National Manufacturing Competitiveness Council, it is put to contribute 25% to the GDP by the year 2025 compared to the recent share of almost 16%. Particularly, the industry contributed 66% to the exports of the nation in FY11 and has been reinforcing at a CAGR of 20% in the past five years. Manufacturing holds a major position in the economy of the country, India, reporting for almost 16% of actual GDP in FY12 and employing nearly 12% of the labour force of India. The growth and development in the industry have been matching a very strong rate in the whole growth and development of the GDP in the past few years (India Brand Equity Foundation, n.d). At present, India is the biggest producer of chemical products, basic metals, textiles, pharmaceuticals, electrical machinery, and general machinery and equipment. Design: This research adopted the conceptual research by using a descriptive research design. Secondary data has been collected and analyzed to find out the factors affecting the manufacturing industry. This will help them to cope with the work environment and to effectively handle different situations. Findings: The findings from studies on Leveraging a comprehensive exploration, study delves into the profound impact of Human Resource Management (HRM) on Enterprise Performance in the Manufacturing Sector. Findings illuminate HRM's pivotal role in shaping Enterprise Performance Management (EPM), demonstrating a direct correlation between strategic HR practices and heightened organizational effectiveness. The research underscores the nuanced ways in which HRM practices contribute to enhanced productivity, workforce engagement, and overall operational efficiency within manufacturing enterprises. As organizations align HR strategies with EPM goals, the symbiotic relationship emerges as a critical catalyst for sustained growth and success in the dynamic manufacturing landscape. Originality/Value: This study includes a detailed analysis of the Evolution of Workplace Diversity and its Impact on Organizational Success: A Comprehensive Examination of Diversity Management Strategies Paper type: Conceptual Research