As Cristina Fernandez becomes the second female head of state to lead an emerging economy as president of Argentina, the qualities that get Latinas ahead, such as cultural savvy, often are sidelined by stereotypes and stigmas that exist in corporate America, according to a new study by the Center for Work-Life Policy.
"There's been a 300 percent increase in the number of Hispanic women gaining college degrees in the U.S.; the Latina market in terms of buying power is now at $100 billion," says Sylvia Ann Hewlett, president of the Center for Work-Life Policy and task-force director of its Hidden Brain Drain. "Both in terms of brain power and spending power, this is a group we've got to pay attention to."
Despite these trends, Latinas held only 0.3 percent of corporate officer positions in 2005. The report, which includes interviews with senior-level Latina executives across industries, finds these executives have unique strengths that are often minimized by "ongoing prejudice, which kind of gets in the way," says Hewlett.
Solid work ethic and collaborative leadership styles are some of the top strengths Latina executives exhibit, which are particularly valuable skills in the global market economy.
The report ranks key skills and values on a scale of 1 to 10 for Latinas and for corporations. The chart below illustrates some of the top-line findings.
"They bring a lot of 'cultural smarts,'" says Hewlett, particularly with respect to language and cultural competency in markets where the dominant language and culture isn't English or American. "It's also an understanding of different cultures and histories and the willingness to get inside the skins of someone who is 'other.'"
Why is this so valuable to global companies? "If you're Unilever selling shampoo in Indonesia or Novartis selling the new drug in India, to have managers on your global teams who really get it in terms of people coming from different cultures and [are] willing to be imaginative and empathetic around difference can be very powerful," says Hewlett.
There is some bad news throughout the report, however. "Stereotypes and stigma are very much with us," says Hewlett. "Employers still tend to think of Latinas as uneducated, illegal and a drain on the social services, so some of the bad vibes from the immigration debates that have raged really rubs off on them. No matter how skilled they are, it's hard to live down this kind of stereotype."
What should they--and the companies that want to benefit from their unique assets--do? It starts with building trust through networks.
"Just creating networks and gatherings where Latinas come together is turning out to be very powerful because they feel so isolated in the work force," explains Hewlett. "If you have an Argentine background, you might feel you don't have a lot in common with someone from a Mexican background, for instance. They say, 'We're very envious or admiring of our African-American sisters who kind of figured out how to get together and have retreats and conferences and networks.' We haven't done that yet and we need to."
What Companies Can Do
Progressive companies provide outlets and resources that capitalize on their natural strengths to accelerate their careers. For example, Johnson & Johnson, No. 17 in The 2007 DiversityInc Top 50 Companies for Diversity®
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