Corporate Values and Ethics Term Paper

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Market Forces on Corporate Values

In corporate settings, corporate values are today being affected by market forces relating to diversity and changes in demographics in America.

Employers have begun to recognize the need to address the new face of the workplace and the new diversity caused by the shift in demographics.

They have made strides to diversify the workplace and make the new demographics of their business place work just as well, if not better, than before. Part of the reason they have done so is because if they do not do so, it would affect their bottom line.

One of example of the new complexity of the workforce is that today's workers are much more diverse in age than in years past.

Workers in a company not only span the range from late teens to post-retirement age, but in many cases, executives at the same level in the company may span wide ranges of ages. In fact, young executives - for example, newly minted M.B.A.'s -- are often above older executives in the corporate hierarchy. This new widespread diversity of age in the workplace will have effects on the corporate workings.

First, companies will need to seriously consider whether, for example, they are looking to employ older employees on a retirement path, on a temporary basis, to serve as mentors for younger up and coming employees, or for some other reason.

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Also, wide diversity in ages of employees can mean problems in assessing significant differences in salaries and benefits, particularly where older workers may have significant years with the company but are at a lower level than a new employee at a higher level on the corporate ladder.

Second, in today's world, workers' family and home situations are much more complex and diverse than they used to be, and businesses must take this into account when making basic decisions such as work hours, work-sharing decisions, benefit packages, retirement ages, and much more. In particular, the new trends in family situations have required employers to pay more attention to benefit and compensation packages that speak to the needs of these different types of home situations.

For example, a gay couple will be particularly interested in whether a company's health plan covers their significant other. If employers in the new economy ignore such needs, they will not be able to attract or retain quality employees from all segments of the population.

Another example: couples with shared child rearing responsibilities may ask their respective employers to let….....

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"Corporate Values And Ethics" (2002, December 24) Retrieved May 16, 2024, from
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"Corporate Values And Ethics", 24 December 2002, Accessed.16 May. 2024,
https://www.aceyourpaper.com/essays/corporate-values-ethics-142797
   

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