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Note this: Latinos’ buying power reached $653 billion in 2003 and is expected to hit $1 trillion by 2008.

What does that mean for you? To thrive, business leaders need to assemble leadership teams that reflect the markets they serve—or hope to serve—and that means hiring more Latinos and grooming them for leadership spots.

These tips can help:
  • Convey that hiring for diversity is not only the right thing, it’s a business decision that will give your organization a competitive advantage.
  • Encourage a welcoming culture that will retain Latino employees over the long run.
  • Develop incentives for middle managers—who often resist hiring Latinos—to reward successful recruiting, retaining and promoting.
  • Encourage the CEO and executives above you to express their commitment to diversity. That requires ongoing communication with top-level support staff in addition to retaining Latino managers and staffers.
  • Remember that this isn’t a quickfix; it’s a long-term strategy.

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