Demographics

Given the changing demographics – the last census shows the Hispanic population to be the fastest growing segment of our population, currently exceeding 50 million – why wouldn’t a company want more Hispanics in their leadership? Why wouldn’t a company want to tap into the Hispanic market, a more than $1trillion dollar marketplace that will rise to 1.3 trillion by next 2013?

 

These numbers show that diversity is no longer simply an opportunity, but a required strategy for long-term growth. The more diverse a company is, the better able it will be to maintain its market share in the new reality of America’s demographic shift.

 

Study after study confirms that diverse corporations are more likely to succeed than those that are not. In the case of gender diversity, for instance, a Catalyst 2007 study showed that Fortune 500 companies with higher percentages of women board directors, financially outperformed companies with the lowest percentages of women board directors on average.

 

Not only do companies stand to benefit, so do our communities. When we have diverse voices on the corporate boards and senior executive management of our largest corporations, their input in the decision making process can directly translate into new jobs and procurement opportunities for minority owned businesses.

 

If you are reading this, then you understand the importance of diversity and what it can bring to your company. I applaud you for taking the first step in recruiting Hispanic and/or bilingual job-seekers.

 

This is about more than fairness. Diversity is important for companies’ bottom line and our communities’ economic growth. We, collectively, have the power to make deep and lasting changes. It won’t be easy, and it won’t be overnight. But as someone who has defied the odds and surpassed many challenges, I am up for it. Are you?