More than half the workforce will be Hispanic in less than ten years. Here’s why and how companies should invest in meaningful mentorships for this often underserved talent pool.
In less than a decade, America’s workforce will have a new face. By 2030, Hispanic youth and other youth of color will make up more than half of the nation’s labor force.
Without increased investment in this rapidly expanding Hispanic population, corporations will not be primed to be competitive or successful in a dynamic labor market. As we close 2021’s Hispanic Heritage Month, it may be time to take a hard look at where your company’s future talent is going to come from—and what role you should take in building a strong mentorship program for Hispanic youth.
The State of the Workforce
Despite making up about 17% of the U.S. workforce, Hispanic Americans currently hold just 4% of executive roles and 6.5% of STEM-related roles in the United States. Pew Research Center found that more than half of all Hispanics in the U.S. currently work in the retail, hospitality, food, construction or service industries—all fields that typically do not require a professional degree or internship experience.
Solving these disparities is best done before they expand further—by making a commitment to invest in Hispanic youth now, before they’re even ready to enter the labor market.
A Solutions-Based Approach
Here in Los Angeles, the Chito Foundation works with this vision.
This organization was founded in February 2021 by Veronica Alvarado, a community leader, entrepreneur, mentor, mental health advocate and philanthropist in honor of her late uncle, Mario Alcides Argueta, aka “Chito” to help mentor Latino youth on their path to entrepreneurship.
“My uncle, Chito, was our family’s anchor. He came to this country very young from El Salvador pursuing the American dream and impacted so many lives by sharing his passion and drive with others. It was he who inspired many to come to this country and start new beginnings and their own businesses”, said Alvarado.
“Chito was my first business mentor at the age of 12 years old and was the one responsible for igniting my entrepreneurial spirit. It was through his passion that I learned to appreciate soccer, embrace my culture and find my voice. These are just a few of the many things that helped shaped me. It was because of this and many reasons more that I wanted to create something special in his honor and pay it forward”. This foundation envisions a community where Latino youth can grow to become confident, self-sufficient, and driven with purpose. We aim to create a new generation of stronger and more unified community of Latino entrepreneurs, creatives and leaders.
Their values are building a bright future for our Latino community starts by uplifting our youth. They are committed to inspiring our youth through our five core pillars: Purpose, Mindfulness, Self-Awareness, Self-Care, and Positive Relationships. And helping them develop strong values such as integrity, perseverance, accountability, trust and community.
More information in https://www.chitofoundation.org/
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