Diversity Communicating in the Bank

Tyler Garrison
University of Kentucky

The banking industry does not discriminate and is able to employ a diverse population of
gender, race, ethnicity, sexual orientation, physical abilities, and age. Communication will be
affected when interacting with all diverse populations in the bank. People may think diversity is
a negative connotation, but if you understand and communicate effectively and efficiently you
will be able to accomplish and overcome any challenge in the banking division you are working
with or in. There are many different divisions within a bank ranging from the consumer bank,
retail or the branches, investment advisor group, accounting division, internal audit, marketing,
commercial banking division, and human capital. The bank needs to hire a diverse workforce to
represent the customers they will service and the reason for so many divisions within a bank is to
ensure every customer is cared for in every way possible. Every employee has a specific skill for
a specific job, which is the reason they were hired. Without each individual personality, gender,
or generation communicating with one another, the workplace would not be an effective work
environment. Jamie Notter states Dealing with the diversity in the workplace means
understanding and relation effectively with people who are different than you, (2007).
Communication becomes difficult when common traits are not shared between one another, but
without communication, the bank would not be able to reach its highest potential. Diversity plays
a role in communication considering the different language, genders, and generations within the
branches of a bank.
The banking industry is lucky to have such large amounts of diverse people, without one
another accomplishing something could become difficult. Communication is also an important
factor to go along with that. The different kinds of diversity all come from little aspects every
person has and is willing to give the company in order to succeed. Like in this diagram, on the
proceeding page, from Aussie Writers. The diagram shows the few major diversity categories,

but also shows what type of personality traits

people have, the different ways people were
brought up in the world, and also some likes
and dislikes people have. Everyone is different
and likes to communicate in different ways,
which is why communication can be difficult
across the banking industry, which is typically
known for an orderly, non-time consuming
manner. The different stereotypes that go
along with the different types of diversity can affect the way someone thinks about another
person. The opinions people consume about someone can affect the way they communicate
between each other making it difficult to give and receive information that is needed. Not only
does a bank have the responsibility of communicating with other employees, communication
also has to get through to their customers. Communication is a vital factor in order to get the best
business. There is no such thing as one bank; there are many different banks a customer can
choose from, and a customer will choose the best bank that will understand and help with their
needs. According to GMC, decrease in trust level and loyalty of bank clients has left the
banking industry facing competition to acquire and retain high-value clients, (2013). If there is
no loyalty and trust between clients and employees, the bank has nothing. When the bank has
nothing, the clients start to decrease. With the decrease of clients becomes the decrease in
business. Without the best communication in the bank, there is no way of succeeding. This is
why language, gender, and generational diversity make an impact on the business.

First, I will be talking about how different languages conflict with the communication
within the bank. The banking industry is a mix of ethnicities. Mostly consisting of
Latinos/Hispanics, Asian, Caucasian, and African Americans. Without clear communication,
especially in the bank, there is no way the work could be completed. Having difficulty
understanding someone could be a travesty in a business and would lead to the potential loss of a
customer or even the loss of more customers if they pass the word onto others who may frequent
your bank. The more people the bank hires that speak a different language, the better the bank
can excel in the long run. The banking industry is an international industry, not just a national
industry and it includes many different ethnicities. With those ethnicities, comes a native
language, which is their first language.
Speaking to someone who doesnt understand what you are saying due to the language
barrier can be extremely frustrating. Many applicants who are applying for a job believe they
will have the upper hand when they are bilingual; this is not the case. According to the ASKIVY
website, teams will focus on hiring a specific language speaker if they often deal with a specific
country, (2013-2014). If you look around, there is not one specific ethnicity walking around the
streets of the Unites States. Therefore, the banking industry does not strive for one specific
language. The need for a variety is an important part of making the banking industry diverse.
Communication becomes difficult when adding a number of different languages to the
mix. Everyone has to communicate so information can be misheard or misunderstood when
speaking in a different language or even a hard accent. Since the United States has a variety of
native languages, there is a need to have a variety of employees who can speak different
languages. This becomes easier when people are put into different groups for their language,
making it more suitable to get information across the bank. Todd Mantia says, since there is

such a variety of ethnicities speaking different languages coming into the bank each day, there is
a need for employment for people who speak that same language to help the bank excel, (2014).
Every customer prefers to speak with someone they are comfortable talking with. Language
becomes a problem when a customer cannot understand the specific person they are talking with
at the bank. Not being able to understand someone is stressful, but not getting the work done that
is necessary could be frustrating.
Secondly, communication can become difficult when dealing with diversity between men
and women. Throughout the lives of men and women, men were always the workers for the
family and women were the caregivers. Kathleen Brandy stated, Women developed behaviors
and speaking styles less likely to be recognized and therefore, appear less competent, (2006).
The different stereotypes can affect the banking industry when communicating with the opposite
sex. Women are described as helpless, childish, sensitive, intuitive, unstable, relationship
oriented and irrational in some cases. Men are described as tough, powerful, insensitive, logical,
rational, and prefer no attachments or relationships. With these stereotypes it takes a toll on
employment because men are thought to be more suitable for a job than women, leading to men
being more populated throughout most of the banking industry. Brady says, Conversations
revolving around gender differences are often difficult because they are filled with stereotypical
examples, conflicting personal experiences and defensive reactions, (2006). The different
stereotypes listed above are not the only ones out there. Many people have their own stereotypes
and opinions about men and women. Even in the banking industry, people will have their
opinions but must learn to move past them by understanding there is no way a business can
succeed with those types of stereotypes. Everyone must respect each other so the communication
can easily flow between one another.

Adding onto the stereotypes used before, women are considered to be useless, powerless,
and uneducated about certain topics. Communication has a toll due to the lack of respect between
men and women. Brandy also mentions, Women have developed behaviors and speaking styles
less likely to be recognizable and appear less competent and self-assures than men, (2006). If
the question were asked which gender asks more questions, women would win by a long shot.
Todd Mantia replied to that question by saying, Men like to be straightforward and dont like to
beat around the bush, it just help communication flow more easily, (2014). Communication
becomes difficult when talking to the different sex because of the different ways they prefer to
communicate with one another. Men and women have different responsibilities throughout the
banking industry that can help strive the industry to bigger and better opportunities. The only
way this is possible is by having the right proportion of men and women communicating with
one another.
Lastly, the variety of generations causes a diverse controversy when it comes to
communication. The four generations are classified as Traditionalists, Baby Boomers, Generation
X, and Generation Y. It is becoming difficult to communicate with one another because of the
technological increase. A communication gap may form a challenge to between different
generations and the older generations finding it harder to keep up with the newer generations.
Jamie Notter suggests, Managing generation diversity is only partly about knowledge, and it is
mostly about communication, (2007). Once the generations understand one anothers
communication preferences, the banking industry can run smoothly without communication
challenges ahead of them.
Traditionalists are private, hardworking, and trustworthy. They believe in following the
steps of relatives. A study from Colorado State University said, Traditionalists values are

influenced by experiences of their parents whose values go back to the 1800s. The best way of
communication with this generation is talking face to face. Technology was never a value to
Traditionalists, therefore making it difficult to communicate via email or over the phone. This
becomes a problem in the banking industry; its all about communication once you walk into a
bank. The varieties of divisions have to communicate with one another to get information across
the entire bank. Traditionalists have learned the ways of technology, making it easier for the next
generation to communicate with them. Baby Boomers value competition, change, hard work,
success, body language, and teamwork. Colorado State University also said, They didnt grow
up through the economically hard times like their parents did, Traditionalists wanted them to
have the best. Baby Boomers communicate well with direct language asking and answering
questions, speaking openly. The first two generations communicate well with one another
because they have similar learning and listening abilities. Both Traditionalists and Baby Boomers
didnt grow up with a cell phone in their have 24/7, making it difficult to click with the other
generations. The problem occurs when you add Generation X and Generation Y to the mix.
Generation X and Generation Y have a great handle on technology due to the era they
grew up with making it easier to grasp the concept of technological communication. The
Generation X is independent, creative, and live by the quality of work. Communicating with this
generation revolves entirely around the technology in which they prefer email for asking and
answering questions, to give feedback, and are also considered nosey. Generation Y have
positive attitudes, are money motivated, technologically savvy, and learn by positive
reinforcement. Communicating with them is not a difficult task to take on; you need to pick up a
phone or hop onto a computer and can reach them instantly. This generation does not know the
world without technology and will read all most of everything through a computer or

smartphone. The communication problem with the generations revolves around technology and
the diversity of age within a workplace. The Colorado State University study says, To make the
generation diversity work is by understanding the motivation between members of different
generations, making it flexible enough to meet their needs. The generations need to work
together in order to make the communication in the bank easier and open up the verbal
conversation and allow for all to understand how to communicate best. The diversity between the
generations can make it difficult for communication because of the new technology, not
everyone can be a technological genus; it just takes some effort to make the communication work
between one another.
The graph to the
right from Hanover
Research shows the
different types of
technology the generations
prefer to use. Notice the
Traditionalist Generation is
not included on this graph;
this could infer that since the traditionalists did not grow up in a technological era, they prefer no
technology, just the face-to-face communication. The graph insinuated that the baby boomers
prefer direct mail, Generation X prefers email, and Generation Y prefers the social media aspect
of technology. Since Generation Y grasps technology so easily, it is interesting to see that the
social media is their number one choice of communication, even in a formal type way. Notice the
social media like Facebook, Twitter and LinkedIn. The social media seems to be smaller in

percentage than some of the other ways of communication. Since social media is now becoming
the top way people communicate, its interesting to see how little the Baby Boomers seem
interested. The one-generation that seems to stand out is Generation Y. It may not be the top
percentage in all of the different ways of communicating with technology, but it is close to the
top each time. The different technology helps generations communicate and understand one
another, making it easier for the work to be done in a time efficient manner.
In conclusion, there are many different ways diversity plays rolls on the way people
communicate to one another. From language difficulty, to gender stereotypes, to the way
generations relate to one another. Since there are many different ethnicities employed at the
bank, there are also many different native languages that come into play. The diversity between
men and women seem to communicate differently due to the different stereotypes. Men seem to
have the upper hand when it comes to getting a job compared to women. Communicating
between men and women can be challenged due to the different ways they communicate. For
example, questions, women like to elaborate by using questions and always thrive for answers
when not needed while men prefer to get straight to the point and move on. Finally, the different
generations find difficulty communicating with one another because of the new technology and
how each generation used the technologically differently. The older generations prefer face-toface communication, while the younger generation prefers to use technology. If all the
generations make the effort to use a variety of communication, it can solve many of the
communication issues. Generations learn that being a technological genius is not necessary, it
just takes time and effort to make the communication work between one another. The bank
delivers their business on communication and without all of the different divisions such as
consumer banking, investment advisor, accounting division, internal audit, marketing,

commercial banking division, retail, and human capital working together and communicating, no
work would be completed. If there is not a clear way of communication between one another, the
banking industry would not excel or reach the highest potential. Language, gender, and
generational diversity can become an issue when it comes to communication. If everyone does
their part, it can become easy to communicate with one another to get the job done.

References

Brandy, K. (February 2006). Gender Matters: Challenged of Cross-Gender Communication in

the Workplace. Navigating Detours on the Road to Success: A lawyers Guide to Career
Management. Retrieved from
http://apps.americanbar.org/lpm/lpt/articles/mkt02061.shtml
How Important Are Languages in banking? ASKIVY. (2013-2014). Retrieved from
http://www.askivy.net/articles/investment-banking/interview-preparation/how-importantare-languages-in-banking
Industry Overview Banking. GMC Industry Brief. (2013). Retrieved from
http://www.gmc.net/fileadmin/downloads/briefs/GMC_industrybrief_bankingoverviewen-web.pdf
Mantia, T. (October 6, 2014). Personal communication.
Notter, J. (2007). Moving Beyond the Hype about Generational Diversity.
The Center for Association Leadership. Retrieved from
http://www.asaecenter.org/Resources/JALArticleDetail.cfm?ItemNumber=30439&pg=5
[Photograph of Preferred Method of Direct Marketing, by Generation. (n.d.). Hanover Research.
[Photograph of Wheel of Diversity]. (2013). Aussie Writers
Tips to Improve Interaction Among The Generations. College of Business Colorado State
University. n.d. Retrieved from
http://biz.colostate.edu/mti/tips/pages/interactionamongthegenerations.aspx