Why should diversity be important to a company like Macy's?
There are two main reasons why diversity would be important to a company like Macy’s. One has to do with the firm’s internal efficiency and the other has to do with its public image and customer base.
On the one hand, diversity can be important to a company like Macy’s so that it will have the most efficient possible workforce. If a company lacks diversity, two problems may arise. First, the firm may not have enough of a variety of points of view in its management. If all of its managers come from the same sorts of backgrounds, they may all think the same. This will mean the firm will not be creative in its thinking. Second, the firm may lose the opportunity to employ talented people. If the firm does not hire a diverse workforce, it will lose out on the talents of the groups it chooses not to employ.
On the other hand, diversity is important for a firm’s image in today’s world. For one thing, many people who would shop at a store like Macy’s might be racial minorities. They might be offended by a lack of diversity and might stop patronizing the store. In addition, though, there are many people who are white but who also believe that diversity is important. If Macy’s lacks diversity (particularly if this lack of diversity is made public) socially conscious white consumers might choose to shop elsewhere.
In these ways, diversity can be important to a company like Macy’s.