Editor's note: The following is a contributed piece by Cherise Tolbert, writer and social media marketer, and Peter Scorzetti, author, both of LatPro Inc., a job board and employment resource for Hispanic and bilingual professionals.
The population of the United States and its workforce will become substantially more Hispanic in the coming decades. The U.S. Census Bureau estimates that Hispanics represented 17.4% of the population in 2014 and that the Hispanic demographic will make a huge jump to 28.6% by 2060. According to another metric, which appeared in a SHRM publication, the U.S. Labor Bureau predicts that one in every two workers that enter the workforce in 2025 will be Hispanic.
Companies that actively plan for these changes in demographics will be primed for success; Hispanics are already representing a higher percentage of top candidates, and having them on board will provide businesses with a better understanding of the increasingly Hispanic markets. But there's more that goes into recruiting top Hispanic millennials than some might think. Companies will have to create unique recruiting programs.
Surveys have shown that the priorities of young Latino workers often differ from millennials of other demographic groups. Here you'll find three common priorities, and how to show that your company takes these priorities seriously.
Financial stability and competitive benefits packages
Research indicates that Hispanic individuals often have strong ties to family, and they're often responsible for supporting parents and relatives in addition to their own children. Because of this, Hispanic job seekers may favor employers that expect to be financially stable well into the future and provide competitive benefits packages. This suggestion is supported by a survey of more than 600 Hispanics, which was referenced in a Harvard Business Review article.
In the survey, participants were asked to rank the importance of job attributes if they were looking for a new place to work. They had twenty-two attributes to choose from, but "Great benefits" and "A higher base salary than you're earning today" were the only two that 60% of the participants rated "Extremely Important." Businesses can use their benefits plans and track record of financial stability to help recruit by showcasing these assets in job postings, recruitment advertisements, and publications offered at interviews.
Clear paths to career advancement
For many Hispanic millennials, finding a job that offers a tangible path to career advancement is just as important as finding one that offers a terrific starting salary and competitive benefits. A Pew Research Center survey found that "Young Latinos have high aspirations for career success. Some 89% say it is very important in their lives, compared with 80% of the full population of 18- to 25-year-olds who say the same."
Employers that are striving for successful Hispanic recruitment will have to find ways of showing that clear paths to higher levels in the company do exist and that promotions are timely. They can do this by touting their existing mentoring programs, advancement structures, and success stories, and implementing new programs where needed.
Provide a transparent and inclusive culture
Top Hispanic talent is more likely to take up employment with businesses that are accepting and supportive of Latino culture. Di Ann Sanchez, an expert on the Hispanic Millennial workforce, said young Latino job seekers "are going to find workplaces where they feel accepted, reassured, validated and where they see people who look like them." Businesses can assure young Latinos that they provide a healthy and supportive work culture by being transparent about the success of the company's diversity and inclusion efforts, as well as by acknowledging how many Hispanic employees work for the company, and at what levels those employees hold positions.
While Hispanic millennials have priorities that are unique to their demographic, these priorities are common-sense provisions that all employees will benefit from. For businesses that pioneer programs which cater to the needs of young Latino workers, it's essential that they remember to communicate their achievements to the candidates they're targeting, so candidates are aware of those advantages.