 Hispanic Heritage Month, celebrated from September 15 to October 15 each year, is a time to celebrate the histories, cultures, and contributions of Americans whose ancestors came from Spain, Mexico, the Caribbean, and Central and South America.
According to the Joint Economic Committee Hispanic Entrepreneurship and Business Brief, nearly one in four new businesses is Hispanic-owned. There are more than 300,000 Hispanic-owned, employer businesses located across all 50 states and the District of Columbia. According to the Small Business Association, Hispanic owned businesses employ about 1 million workers, with more than $100 billion in annual payroll. Challenges of Hispanic Employees Hispanic employees face various challenges in the workplace. According to a survey conducted by LinkedIn, Latino professionals aged 18-34:
Of the participants surveyed, 66% of professionals say they would be more interested in working for an organization that makes a public commitment to equity and racial justice. Yet, 50% still reported feeling that their workplace lacks a nurturing environment for those who look like them.  Empowering employees’ growth through learning and development (L&D) opportunities is a vital function to equip employees with the knowledge and skills they need to be effective in their roles. It also provides them with a greater understanding of the organization’s processes, procedures, and goals. In turn, it drives better business performance and employee engagement through improved company culture, increased productivity, and supports workplace safety.
When businesses invest in L&D for skills such as conflict resolution, trust building, teamwork, accountability, performance management, and other leadership topics, the effectiveness may be limited if it is not combined with coaching. The reasons it may be ineffective include our own lack of awareness of how we perceive ourselves, how we are perceived, and the challenges inherent with habit changes. Jathan Janove, J.D., states there are blind spots due to the lack of awareness that he calls the “Three Realities Gap.” The realities are:
Even for those who are motivated to put what they learn into practice, it can be challenging due to these blind spots, emotional intelligence, and current habits.  The employee benefits landscape is ever-changing as the needs and wants of our workforce change. But for many organizations their benefits haven’t adapted to the current workforce’s expectations. The COVID-19 pandemic and the “Great Resignation” prompted employers to evaluate their employee benefits strategies to help attract and retain talent, but what about now? Are employee expectations still the same? Are more changes necessary? Let’s look at some data for these answers. Per the 2023 SHRM Employee Benefits survey, the following outlines the importance of benefit categories:
As shown below, the 2023 SHRM Employee Benefits survey results show an increase in importance for the highest rated benefit categories from the pre-pandemic 2019 results.   Despite the increase in corporate commitments to Diversity, Equity, Inclusion, and Belonging (DEIB) and the growing acceptance in society of Lesbian, Gay, Bisexual, Transgender, Queer, Intersex, and Asexual people (collectively known as LGBTQIA+), according to the Human Rights Campaign, 46 percent of LGBTQ individuals remain closeted at work.
The main reasons LGBTQIA+ people choose to remain silent is due to:
Progress over the last two decades has been made but it is still an ongoing challenge. According to a recent report by the Human Rights Campaign, they counted 842 employers who achieved a perfect score and 1,271 companies who are actively participating in its 2022 corporate equality index, which benchmarks participants on their LGBTQ-inclusive benefits, policies, and practices. This is compared to 300 total participants and 13 organizations receiving top scores when the report was launched in 2002.  There is a growing need for businesses to review their practices, policies, and benefit offerings concerning their mental health strategy. Even with the abundance of resources surrounding mental health, in a recent SHRM Foundation survey, one-in-three workers stated they would sacrifice higher pay for a workplace that provides increased mental health benefits. In that same study, 86 percent of HR professionals in the US stated that employee retention can be improved by offering mental health resources.
Each business and even departments within the business are unique in their size, structure, products, services, offerings, and the type of employees it takes to support the objectives. It can become an overwhelming task for HR to understand all the nuances within each aspect of the business and the needs of the employee population to craft a strategy. Here are some ways to help get the process started. 1. Defining Goals, Roles, and Players
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