Why Variety Works

Source:   —  May 13, 2016, at 10:04 PM

Soto, Author and CEO of About Marketing Solutions, Inc. As the face of the country continues to undergo a major transformation, it'south tough to imagine a single U.

By Terry J. Soto, Author and CEO of About Marketing Solutions, Inc.

As the face of the country continues to undergo a major transformation, it'south tough to imagine a single U. S. Corp that doesn't realize large demographic changes are afoot and have been for some time. Many realize their companies' survival depends on their skill to capitalize on a younger, ever-changing and ever-growing diverse pop both as consumers and employees. As such, organizations are undergoing the necessary organizational alignment to ensure their companies and brands become more diverse and relevant into the future.

As I work with and hear to management in high turnover industries love retail, they'll express it love this, "When a youthful Hispanic employee sees their dept manager is Hispanic and their helper manager is Hispanic, she begins to dream of a better future. Sometimes, for the first time." This translates into a much better chance of retaining that employee because she sees growth opportunities within the company. This in turn, means the company can better serve its Hispanic customers because its services and products will be more relevant. In the end, it'south a win-win-win.

If you discover yourself among companies who look variety as a winning growth strategy, here are six necessary steps to ensuring success as you obtain started to fine tune:

  1. Ensure leadership commitment. Successful CEOs dedicate quality time each mo to discuss variety processes and progress with their executives and consistently communicate its importance and business impact to the all organization on a regular basis.
  2. Ensure that the organization'south vision and core values are consistent with creating a culture of diversity.
  3. Sensitize residence office and field teams to cultural nuances and diverse consumer and employee needs. Many successful organizations hire cultural sensitivity consultants to allow training for corporate and field leadership.
  4. Set up business goals for the human resources and variety management leaders and expand strategies for achieving them.
  5. Set up measurement tools that correspond to each goal.
  6. Monitor, measure, track and continue to modify and strengthen as necessary.

While most employers are well-intentioned in their desire to comprise variety as a strategic initiative, they struggle to create meaningful progress. For sixteen years my firm has provided expert advice to companies in this position. Here are some specific goals and measurement tools I utilize when helping my clients move the needle:

Having a diverse staff allows successful organizations to think love their diverse customers, rather than just think about them.

As one VP of Human Resources keep it, "Customer and employee cultural backgrounds should align. Declare we've a dense Cuban population; employees from German or Irish backgrounds aren't going to realize their culture, but if we've employees from the same countries as our customers working in our stores it creates a genuine consolation level for them which keeps them in the store longer and buying more."

My clients are also fast to recognize that the more employees they hire with the same cultural and historical background as their customers, the better they realize them and know how to service them better.

Companies which have been successful in increasing variety know how to connect with their diverse consumer base in a meaningful way because they work tough to become "customer-centric." This, many report, has led to increased brand loyalty, greater market share, and higher customer retention.

The variety philosophy these companies have adopted reflects the new customers they necessity to serve. They also discover that employee variety allows them to create better decisions and that it also fuels innovation making their businesses more responsive and adaptive to market changes in their footprint.

My best clients have also realized the benefit from more diverse and broader thinking at all levels of their organizations and are strengthening their diverse representation of ethnic employees in center management and higher level executive positions.

Making a shift in organizational culture is never easy. Number doubt, we're all accustomed and comfortable with the face of our organizations as it is. However, in today'south ever more diverse consumer environment, making steady shifts in favor of variety will optimize our companies' desirability among consumers which always bodes well for staying competitive and ultimately, growing our organizations' bottom line.

Terry Soto is CEO of About Marketing Solutions, Inc., a Burbank, California - based strategy consulting firm specializing in helping clients to dramatically make better overall business performance by optimizing their strategies to also succeed in today'south diverse U. S. market. Terry is the author of Marketing to Hispanics and Strategic Approach to Planning and Implementing Your Initiative and co-author of Grow With America Best Practices in Ethnic Marketing and Merchandising. Terry can be reached at terrysoto@aboutmarketingsolutions. com.

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