Russell Reynolds: Why Creating a Latino C-suite Pipeline Is Important
Even though Latinos continue to dominate population growth in the U.S., the Center for Employment Equity notes that only 4% of executives and 16 S&P 500 CEOs are Latinos. Understanding and celebrating the rich diversity within this population is the first step to help identify and address barriers for Latino individuals to access the C-Suite and boards.
Russell Reynolds notes that while Latinos represent one of the largest audiences nationwide, the market potential is often overlooked. In 2018, U.S. Latino GDP totaled $2.6 trillion, which surpasses the GDP of the eighth largest economy in the world.
The first step in addressing shortfalls in building a Latino talent pipeline at the executive and board level is to develop multi-pronged strategies that go beyond hiring Latino individuals. While recruiting Latino talent should be central to supporting diversity goals, it is only one piece of the puzzle. The following are some recommendations from Russell Reynolds, having experience in providing DE&I advisory services and placing Latino executives at leading organizations:
- Groundwork Understand the Latino demographic
- Leadership buy-in
- Assess where your company stands on DE&I
- Develop a thoughtful and concerted DE&I strategy