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February 10, 2014

Are Companies Ready for Changing Workforce Demographics?

Posted 4 years 103 days ago by Sheila Ellian Lewis

By as early as 2015, Hispanics will form the largest part of the California workforce. As goes California, so goes the nation and it’s expected that by 2050, Hispanics will represent over half of the US working population.

It’s hardly a surprise. There has been plenty of research that has shared the growing importance and influence of this group. So are companies doing enough to understand and attract Hispanics?

A recent Harvard Business Review (HBR) article explores some of this analysis and sets out some of the major work related themes emerging from the research:

  • Work plays an important role in terms of upwards mobility and security.
  • Job security with a stable, proven employer is favored.
  • Money and benefits are extremely influential in choosing where to work. It’s all tied back to providing security for the family.

A combination of traditional values with more forward thinking and flexible policies will be key to attracting Hispanic employees. “Companies who provide development support and resources will be well-positioned to attract and retain Hispanics,” says Tammy Erickson, author of the HBR article, “Informal, on the job mentoring as well as financial support for learning is important. Members of this cohort are less likely to be attracted to ambiguous “define your own job” positions.”

At Ashton212 we’re already thinking about changes ahead. We know that great consulting talent doesn’t just come from one group of people or one background.Our Inclusivity Choice™ program recognizes the importance of integrating diverse consulting talent into our client’s organizations to address not only the business challenges of growing ethnic populations, but to ensure that the best and brightest professionals are available.

Let us know what your company is doing to meet the demands of this workforce shift, and reach out to us to discuss how Inclusivity Choice can help you be prepared.

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