This chapter focuses on issues of equity and diversity in the workplace. It explores the extent to which diversity management approaches, which are based on a business rationale that diversity is a productive asset, are inclusive of historically under-represented ethnic groups and Aboriginal peoples. It proposes that equity and diversity work is not just about ethnic minority groups, but also about the dominant, white culture. The chapter proposes that current workplace standards and practices tend to be based on western norms that can privilege the majority white culture with ‘unearned assets’. Drawing on interviews with employees in human resource, learning and development, training and assessment, operational and service roles in a range of Australian rail companies, it identifies some problems with achieving equity and diversity in the workplace, with particular attention to challenges in recognising the knowledge and skills of a culturally diverse workforce.