Coopera Blog: Strategies for Attracting and Retaining Hispanic Employees

POSTED on November 15, 2019 IN Coopera

Hispanics represent the fastest-growing population segment in the United States, which, in fact, is now the world's second-largest Spanish speaking country after Mexico.

Credit unions across the country are finding it challenging to hire new staff. Competition for good candidates from among a seemingly limited talent pool is fierce. A strong economy and increasing worker demand make hiring tough enough, but the rapidly diversifying population adds its own layer of both challenge and opportunity.

Hispanics represent the fastest-growing population segment in the United States, which, in fact, is now the world’s second-largest Spanish speaking country after Mexico. These growth trends are set to continue –  the U.S. Department of Labor predicts that one in every two new employees entering the workforce by 2025 will be Hispanic.

Attracting and retaining Hispanic employees soon will become critical to credit union success, if it hasn’t already. Recruiting Hispanic community members for open positions goes beyond simply having bilingual signs, flyers and ads. Here are some strategies for hiring success.

• Build a strong, positive reputation within the Hispanic community. People like to do business with enterprises they trust and believe understand their needs. If the credit union creates a welcoming and culturally enlightened environment, more potential Hispanic members – and the Hispanic employees needed to serve them – will respond positively.
• Appeal to diverse values and utilize culturally appropriate ad placements when posting positions. Having a clear idea which images and language appeal to Hispanics – and which inadvertently might be offensive – is critical to attracting qualified job candidates. Communication is based on common understanding. Make sure you know what message you’re conveying and spread the word of position openings through channels you know are likely to reach Hispanic candidates.
• Understand and embrace cultural differences during interviews. The Hispanic culture contains aspects, such as communication styles, that can be different from those traditionally used in the U.S. employment culture. Understanding and addressing those differences will result in more positive – and successful – candidate interviews and hires, and lead to greater employee retention.
• Hire at all levels. Truly successful credit unions are looking for Hispanic candidates for more than front-line teller spots. Hispanic mid- and upper-management positions are critical to the success of credit unions that want to successfully serve and grow their influence within the Hispanic community, and so, too, is Hispanic presence on the board of directors.
• Know that, as you are interviewing them, they are interviewing you. Understand that you are presenting an opportunity to a candidate who may be considering several offers. As it is up to them to prove that they are the best person for the position, it is up to you to show that this is the best opportunity for their consideration.
• Finally, hire for retention. Candidates look for career tracks in the same way companies want employees who can grow with their enterprise. When word gets out among the Hispanic community that your credit union is a good place for employees to grow within their profession, good candidates will seek you out, rather than the other way around.

This blog was written by Kenia Calderon, Coopera Client Relations Director.