LCDA serves as a trusted partner and resource to key influencers of board placement. We seek to raise the profile of our members among business and mainstream publications and to provide them quality programming through our annual meeting. LCDA also educates the pubic and decision makers about the strong pool of Latino board qualified talent and the business case for board diversity.By the Numbers
The numbers plainly show that Latinos are driving the US economic engine.
- Latinos are the leading the transformation of US demographics. Nationwide, Latinos total nearly 59 million, or 18 percent of the US population.
- Latino GDP is now $2.3 trillion, comparable to the world's eighth-largest economy, behind India and larger than the GDP of Italy, Brazil, and Canada.
- Latino entrepreneurs are driving job creation and economic growth--there are more than 4 million Latino-owned businesses that together contribute in excess of $660 billion to the American economy
- Latinos account for the vast majority of growth in the US workplace; approximately 74 percent of the 10.5 million workers projected to be added to the US labor force from 2010 to 2020 will be Latino.
Latino consumers are driving consumption on growth for all mass consumer categories. The bottom line is, Latino prosperity equals corporate prosperity. Without Latino voices in the boardroom, companies ar leaving money and opportunity on the table.
The factsheets found here
detail the growing Latino economic powerhouse and its impact on the US economy.
Status of Latinos on Corporate Boards
The picture of Latino economic influence in the marketplace is contrasted by woeful underrepresentation in America's corporate boardrooms. Despite a strong talent pool, just 2.7% of Fortune 1000 company board seats are held by Latinos.
While Latino representation on F1000 boards has been slowly growing in recent years, our research shows that it is growing at a much slower rate than for other minorities, and that Latinas in particular are seeing the lowest numbers of representation. See the numbers and read more in reports from our LCDA and strategic partners
.Why Diversity Matters
Diversity on corporate boards matters. Cited most frequently is McKinsey’s study, Diversity Matters
which found a statistically significant correlation between diversity and financial performance. Specifically, companies in the top quartile for gender and racial/ethnic diversity were 15 percent and 35 percent, respectively, more likely to have financial returns above their national industry median. These articles and reports
make the clear business case for board diversity.
Working with our members and a growing coalition of allies, LCDA is making the business case for greater inclusion and greater representation of Latinos on corporate boards.