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The Professional Testing Blog

Diversifying Your Candidate Pool

Natalie Judd

The Census Bureau recently revealed that the 2050 tipping point, when the majority would become the minority and non-Hispanic whites would no longer account for more than 50% of U.S. inhabitants, may now occur as early as 2044. Yes, the landscape is shifting quickly and NOW is the time to make sure you’ve done your work to integrate multicultural marketing into your outreach efforts.

With this increased population also comes growing wealth — Hispanics’ purchasing power is on the rise. By the end of 2015, Hispanics will have $1.5 trillion in buying power. One of the fastest growing segments within the Hispanic market is upscale households – those with incomes over $50,000. These power players represent 29% of the Hispanic market and wield nearly 40% of Hispanic spending power, according to a study co-authored by Nielsen  and AHAA: The Voice of Hispanic Marketing.

Another part of the equation is the big gains Hispanics have made in college enrollment, a measure that includes both two- and four-year schools. According to Pew Research, from 1996 to 2012, college enrollment among Hispanics ages 18 to 24 more than tripled, outpacing increases among blacks and whites. In fact, for the first time in 2012, Hispanics’college enrollment rate among 18- to 24 year-old high school graduates surpassed that of whites, by 49% to 47%.

So how can certification programs start to tap into this growing market? The first step is discovering universal truths across key target audiences — professionals, millennials, college graduates, etc.In other words,harness what unites us versus our inherent differences. But, this is only a first step, and for organizations to truly be successful, you have to dig deeper to find those cultural nuances and address barriers to help forge a more meaningful engagement and relevant conversation. That is the essence of a true “Total Market” approach and what drives ROI.

Any good marketing effort starts with a fundamental understanding of the marketplace – is it mostly entrepreneurs, women, are they college graduates, is there an emotional connection, does it make good business sense? These are the questions that need to be answered before a tailored approach can be mixed in with the overall organization’s message. It’s the same with the Hispanic market. Content that is relevant, touches on cultural “touchpoints,” and can be shared will engage Hispanics and get them to open their hearts, minds and wallets to your message.

Organizations that are not taking the time to become fully educated and immersed in these polycultural realities, and in the growth-fueling Hispanic market in particular, will be on the wrong side of the spending curve. Do you have the right cultural strategies in place to diversify your candidate pool? 

Categorized in: Industry News