Even though the US Hispanic community is expected to increase by 1.7 million per year, only 14 Latinos were in the corporate executives suites of Fortune 1,000 companies, the study by the Hispanic Association on Corporate Responsibility revealed.
Hispanics represent 10.3% of the private sector work force in the US, yet they account for only 4.5% of company officials and managers, according to statistics for 2000 from the US Equal Employment Opportunity Commission.
The biggest obstacle, according to the study: An inadequate commitment by some CEOs to foster hiring and promotional goals for Hispanic executives.
The following barriers to advancement by Hispanic employees were listed in the research:
- an insufficient Hispanic talent pool,
- a dearth of mentors,
- limited exposure to key assignments,
- few opportunities for promotions,
- limited knowledge by senior managers of Hispanic success stories within their companies, and
- discrimination related to ethnicity or gender
The study was based on a survey of 1,200 US companies, including Fortune 1,000 businesses and 200 privately owned companies that employ more than 30 million people worldwide.