I’ve been staring at this graphic for a few days now (always hidden behind countless other tabs on Firefox), and it comes courtesy of the Latinum Network. If you’re not familiar with the Latinum Network, it is a business network devoted exclusively to helping corporations penetrate the Hispanic market. I like this model for several reasons including its focus on what are common challenges for any organization targeting the Hispanic market. I also like that many of the concepts associated with the model are relevant to the recruitment of Hispanic talent.
No question that the $850+ billion Hispanic market is attractive to organizations and so is the growing Hispanic workforce. Yet, organizations face challenges when it comes to effectively attracting them to their organizations. Unlike marketing and advertising experts that understand that niche marketing has significant benefits, organizations have yet to apply these same concepts toward recruiting Hispanics into the workforce. Hence, there might be inconsistent results in their efforts.
Certainly, organizations might question the economic sense of customizing some of their recruiting resources toward reaching a certain demographic group; however, I’m also sure they wouldn’t mind having a bigger slice of its $850 billion buying power. There is a definite upside and long-term ROI potential in adding more culturally aware employees to their marketing teams. So what are the barriers – what stops them from doing it?
Why aren’t more organizations customizing more of their recruiting efforts to reach this growing talent market?Organizations might see this model as a way to solve a problem. But what if this model was reframed as an opportunity? Then what could be seen? Opportunity implies possibilities. Possibilities suggest multiple paths – and growth.