Similarities and differences between the ways that women were treated at Fiduciary Trust Corporation International
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Buy custom Similarities and differences between the ways that women were treated at Fiduciary Trust Corporation International essay
The United States of America is amongst one of leading economies in the world, and this is in regards to the entire hard working population. It comprises of both men and women from diverse races and backgrounds. In the recent past the numbers of the women in the job market is increasing and the current percentage of women is estimated to be around 46% (Ligos, 2002). With research indicating that the majority of the women will work in the same station for the rest of their life, and by the year 2015 the number of the women in the workforce will reach 56%.
These companies are similar in the ways they treat there women employees in that they offer all there employees with equal opportunities to explore their potentials in regards to the job. This is as a way of encouraging competition in the work place and this provides the women with the room to rise to top positions in the organizations. These organizations also offers the women with opportunities that are aimed at overseeing there success in the organization and this is by employing a lot of women and giving them senior positions in the organization (Ligos, 2002).
Some differences in these organizations are that in Fiduciary Trust Corporation International offers its women employees with managerial positions that ensure that they occupy the top positions. While, other companies like Morgan Stanley and Dean Witter, has given its employees equal opportunity but the majority occupy these other positions leaving the men the top posts (Ligos, 2002).
Changes which brokerage firms agreed to make part of settling of the lawsuits
The suing of financial institutions by their clients and investors indicates that the clients have no trust and confidence on the way the company is conducting its activities or even the managerial team is incompetent. Therefore some of the sued brokerage companies that were sued had to change the ways they carry out their activities and the management style (Reporter New York Times, 2002).
The management team had to change the way it conducted its activities, this is by replacing its employees. That were believed to be corrupt and careless in there works this is because they are deemed as the reason behind so the clients complains, another change made by these companies was the reduction of the fees that they changed there clients, this gave them a value of their money as they thought that they were paying more than the services they received, (Reporter New York Times, 2002). Therefore, these companies had to reduce there fees inorder to hold there customers credibility in them.
The organizations also had to reduce the salaries of their employees and alos firing some of its employees, this were in aspects aimed at sustaining the organization as it had reduced the fees and numbers of its employees.
Other actions that might be beneficial
Diversity is experienced in every work place and environment as not every individual in a given environment possesses the same likes, and each individual is different in one way or the other. Therefore, the management team should identify the diverse nature of its employees and strive at making them feel at home by providing them with quality support (Wentling, 2005). Some actions that might improve diversity in an organization includes regular training and education programs, these will provide the workers with a basis that will enable them to be able to understand the diverse nature of one another and strive at working as a team from the acquired knowledge.
Implementation of a Monitoring program of the Minority employees will also play a great role in improving the relations of the workers; this is because the minority workers will feel that they are recognized and appreciated by the management team. Another way is by performing an appraisal system that is non-discriminatory; this is by when the top management will offer incentives and other motivations to its entire employees equally without discriminating on the other minor group.