Final answer:
The term 'workforce diversity' refers to the range of demographic characteristics in a company's workforce, including racial and ethnic diversity, which is increasing in the U.S. alongside shifts in the broader population's composition.
Step-by-step explanation:
The term that refers to the variety of demographic features that characterize a company's workforce is workforce diversity. This concept encompasses associations with race, ethnicity, gender, sexual orientation, cultural background, and other factors that differentiate people in a working environment. Notably, as the demographic composition of the U.S. population changes, companies are experiencing an increase in racial and ethnic diversity in their workforce. For instance, while white Americans comprised 78% of the population in 2012, projections estimate that by 2060, they will constitute approximately 69% of the U.S. population. Concurrently, there is an expectation for the proportion of U.S. citizens of Hispanic origin to increase significantly. Moreover, workforce diversity is enriched as women, who have increasingly entered the workforce since the 1970s, ascend organizational hierarchies.
The term that refers to the variety of demographic features that characterize a company's workforce is workforce heterogeneity. Workforce heterogeneity encompasses a range of factors such as age, gender, race, ethnicity, and education level among the employees. This diversity in the workforce can bring different perspectives, skills, and experiences to the organization, which can lead to increased innovation and adaptability.