The Case For Emerging Diversity Talent

334 views

Published on

Published in: Business, Career
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
334
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
11
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

The Case For Emerging Diversity Talent

  1. 1. The Case for Emerging Diversity Talent<br />
  2. 2. A New Direction<br />The ongoing increase in minority U.S. population, coupled with growth projections in the upcoming decades, present a tremendous opportunity for companies who focus their human capital on developing this quickly growing market and workforce. <br />This presentation provides insight to the historic changes the U.S. population is experiencing.<br />
  3. 3. Changes in U.S. Demographics<br />Data from U.S. Census Bureau<br />
  4. 4. Consumer Impact <br />“The Multi-Cultural Economy 2008” a study by The Terry College of Business, University of Georgia, examines the dynamics of these new markets and provides a clear picture of the opportunity at hand. <br />The study highlights the business impact of the ongoing demographic shift and examines the projected market share and buying power increases for each ethnic group. <br />The results confirm Hispanics have experienced a sharp increase in buying power and market share, while African American buying power has increased at a rate substantially higher than the total buying power increase for all races. <br />
  5. 5. Understanding the Opportunity<br />U.S. Market Share by Race/Ethnicity*<br />% Increase in Buying Power from 1990 to 2008*<br />U.S. Buying Power by Race/Ethnicity (in billions)*<br />*Selig Center for Economic Growth, Terry College of Business, University of Georgia, “The Multicultural Economy 2008”<br />
  6. 6. Impact of Diversity<br /><ul><li>Increased exposure to a rapidly growing customer base
  7. 7. Expedited product development cycles
  8. 8. Market penetration activities are more effective
  9. 9. Higher rates of attraction and retention of talent
  10. 10. Reduces exposure and costs associated with lawsuits and EEOC claims.
  11. 11. Increased community relations and consumer perception
  12. 12. Status quo is more frequently challenged
  13. 13. Advertising campaigns become more effective
  14. 14. Decision making capabilities improve through broader perspectives and experiences</li></li></ul><li>Challenges Ahead<br />Creating and executing a human capital strategy that delivers an impact in these emerging markets has proven to be a difficult challenge for organizations. <br />Geographical concentrations, limited availability of experienced talent, lack of degreed multi-cultural candidates, and historical difficulties in attracting diverse talent are some of the challenges organizations are now facing. <br />
  15. 15. Geographical Challenges<br />90% of Hispanics reside in just 16 states<br />90% of African-Americans reside in just 21 states<br />Top African American Buying Power States (in Billions): New York (87.6) Texas (72.0) Florida (62.9) Georgia (62.6) California (61.8) Maryland (52.3) Illinois (44.0) North Carolina (40.9) Virginia (38.2) New Jersey (34.8)<br />Top Hispanic Buying Power States (in Billions): California (249.0) Texas (171.1) Florida 101.3 New York (75.3) Illinois (41.0) New Jersey (35.6) Arizona (31.3) Colorado (21.0) New Mexico (17.9) Georgia (15.1)<br />
  16. 16. Generational Challenges<br />Data from U.S. Census Bureau <br />
  17. 17. Educational Challenges<br />A 2006 U.S. Department of Education study found of all Caucasian children entering kindergarten, 36%will obtain a bachelor’s degree by the age of 29.<br />The same study of African American students showed 20%will obtain a bachelor’s degree.<br />The study also showed that of Hispanic students, only 12%will obtain a bachelor’s degree.<br />
  18. 18. Solutions<br />Understanding the challenges and opportunities of targeting these rapidly growing market segments cancreate a significant advantage. <br />When executed properly, a diversity focused employee referral network, a multi-cultural employer branding strategy, and attending key diversity events are traditional ways companies compete for talent. <br />However, many experts believe the best and most cost effective way to develop a strong diverse internal talent pool is by creating a strategic university recruiting program. <br />Targeting multi-cultural students for internships and entry level hires, companies create a pipeline of future leaders, and tap into the largest percentage of these increasing populations. <br />
  19. 19. The University Dynamic <br /><ul><li>Cost effective way to build a diverse talent pipeline vs. experienced hiring
  20. 20. Viable solution to the upcoming workforce shortage caused by retirements
  21. 21. Targets the largest and most educated segment of the fastest growing consumer bases
  22. 22. Provides opportunity to promote employer branding and customer development
  23. 23. Bring innovative and current thinking developed through school curriculum.
  24. 24. A tech savvy group who is more affordable to develop and eager to contribute
  25. 25. Engages existing talent by recruiting from schools with high internal alumni populations</li></li></ul><li>Struggles Recruiting Multi-cultural Emerging Talent<br /><ul><li>Lower multi-cultural student populations impact the ability to locate and engage top talent.</li></ul>Limited Resource Allocation <br /><ul><li>Limited Campus Coverage
  26. 26. Unable to develop strategic relationships
  27. 27. Over reliance on career services
  28. 28. Dependency on technology</li></ul>Organizational Constraints<br /><ul><li>Inadequate business support
  29. 29. Poor workforce planning
  30. 30. Open headcount paralysis
  31. 31. Sending the wrong people
  32. 32. Attending the wrong events
  33. 33. Mismanaged internship program</li></li></ul><li>Our Value to You<br /><ul><li>Exposure to the top 10% of a highly sought after pool of candidates
  34. 34. Two day conference focuses client resources and time
  35. 35. Access to candidates from campuses that would otherwise be missed due to resource constraints
  36. 36. Experienced and certified talent assessors completing initial screening and matching
  37. 37. Opportunity to interview 100+ of the top campus multi-cultural and student athlete candidates
  38. 38. Isolated interview space, and one on one format deliver a preferred candidate experience
  39. 39. High likelihood of extending multiple offers
  40. 40. Our risk -minimizing pricing structure</li></li></ul><li>Further Information<br />For more on this presentation and our services please visit www.minnickwesley.com <br />Email us: info@minnickwesley.com<br />THANK YOU FOR YOUR TIME!<br />

×