Have you had a chance to attend the Big “I" Legislative Conference in Washington, D.C.? If so, you may have stumbled across a unique session hosted by the Big “I" Diversity Council and named something like this:
- The Business Case for Diversity and Inclusion
- Navigating Unconscious Bias
- Building a Culture of Diversity and Inclusion
- Our Changing Workforce
Why should these types of diversity and inclusion sessions matter to you, both personally and professionally?
The racial and ethnic makeup of the U.S. is changing at a very rapid pace, which means your customer base is changing, too. You have two choices: Ignore the changes that are happening and miss out on your share of new business, or keep up with the times by creating an aggressive, intentional plan for gaining business from emerging markets.
Assuming you're up for the challenge, you must first understand the business case for diversity and inclusion. In other words, what's in it for you? Sure, building a more diverse and inclusive agency is a “good thing to do." But more important, it's also critical to your agency's future success.
The U.S. Census Bureau indicates that by 2044, the U.S. will be a multicultural majority nation, with African Americans, Asian Americans and Hispanic Americans comprising over 50% of the overall population. Nielsen, a global data analytics company, reports that 21 of the top 25 most populated U.S. counties are already majority multicultural—and that African-American, Asian-American and Hispanic groups make up nearly 40% of the U.S. population today. That translates to approximately $3.4 trillion in buying power annually, according to Nielsen.
Keep an eye on upcoming editions of the State News e-newsletter for a discussion of additional diversity and inclusion considerations for your business. Let's make your business more profitable and sustainable!
Want more now? Check out the Big “I" Diversity Council's training series How to Market to People Not Like You.