September marks the beginning of National Hispanic Heritage Month, which celebrates the histories, cultures, and contributions of the Hispanic and Latinx communities. It is also a time to re-examine the issues and struggles of marginalized communities, affirm their contributions, and recommit to championing diversity, equity, and inclusion (DEI) in our communities and workplace.
Latino small business ownership grew 34%, compared to 1% for all business owners in the United States over the past ten years, despite opportunity gaps, according to a recent study from Stanford University. Although the social and economic innovations of the Latinx and Hispanic communities are vast, discrimination, microaggression, and misconceptions around their multifaceted and complex identity are pervasive.
Is your company intentional about recruiting and keeping Hispanic and Latinx, BIPOC, and LGBTQ + talent? Organizations frequently blame their lack of inclusivity and diversity on the absence of a “qualified” talent pipeline. However, the issue is often misalignment and lack of investment in developing diverse talent.
So, what would it take to attract and retain diverse talent in companies and organizations?
It means supporting employees with resources, DEI training, cultivating an inclusive, and engaging company culture, rewarding employees for their impact, and professional development at all career stages. Most importantly, implementing qualitative and quantitative data to assess the effectiveness of your DEI and employee engagement strategies.
That may sound like a lot to commit to, yet organizations that intentionally strengthen their DEI strategy experience greater employee satisfaction and talent retention. In the spirit of reassessing organizational DEI and equity strategies, here are some actions you and your organization can take:
- Company and nonprofit leaders must focus on expanding their talent pipeline at all levels while retaining their diverse workforce by implementing robust DEI and CSR programs at the institutional level. The key is to consider a holistic approach, not just focusing on bringing diverse people but also supporting talent at all stages in their careers.
- Identify what must change. If your company does not have DEI measurements, add them. If you are interested in how cross-sector partnerships can help you achieve your social justice and racial equity goals, we’d love to hear from you!
- Donate to nonprofits with an equity focus and are led by people of historically marginalized backgrounds. Even better is supporting nonprofits through skills-based volunteering. Skilled volunteering is an excellent opportunity to work closely with nonprofits championing racial equity and climate justice. Learn more about sponsorship and employee engagement opportunities here.
Reach out to learn more about skills-based volunteering and join our upcoming racial equity and climate justice Skills for Cities event.