What Does the Latino Boom Mean for Business?

by Andrés T. Tapia –

(This article was originally published on my LinkedIn page: https://www.linkedin.com/today/author/18562142)

In my last post, I shared a teaser with some head turning statistics oniStock_4746494XSmall.HispBusTeam Latinos that I was launching in this series. So let’s get started.

Consider this. The United States continues to be in the midst of a Latino population explosion. In the first decade of the 21st century, Latinos grew at three times the growth rate of the rest of the population—becoming the largest ethnic minority group. This has accounted for half of the overall United States population growth. At this rate, it is estimated that one in four U.S. nationals will be Latinos by 2025 and one-third by 2050. By 2060, the U.S. Hispanic population is estimated to reach 128.8 million.

So, what does this mean for businesses? There’s a largely untapped pool of talent available, who can bring ideas, connections, and information that will help to grow the Latino market as well your business. To seize the many opportunities offered by the growing Latino talent pools, corporations must heed three key principles:

  1. Understand the multidimensional diversity within the Latino community.
  2. Become self-aware of how corporate cultures are and are not attractive to Latino talent.
  3. Marry marketing psychographics to multidimensional demographics.

In this blog series, I will explore each of these principles with facts, strategies, and practical tactics. I invite you to comment along the way.

About

Andrés Tapia is a Senior Partner at Korn Ferry International, a premier global provider of talent management solutions. Previously he served as President of Diversity Best Practices, the preeminent diversity and inclusion thinktank and consultancy. Prior to Diversity Best Practices, he served as Hewitt’s Chief Diversity Officer and Emerging Workforce Solutions Leader. As a published writer and prominent speaker, Andrés offers thought-provoking views about diversity’s impact around the world. He is the author of The Inclusion Paradox – 3rd edition: The Obama Era and the Transformation of Global Diversity. Find his bio here.

  

Your Comments

Posting Guidelines: Stay focused on the topic. Be respectful.

inclusionparadox.com