Multicultural/Bilingual Specialty

Helping client partners take advantage of multicultural/bilingual opportunities

To simply say that the Hispanic/Latino population of North Carolina, in general, and Mecklenburg County, in particular, has grown significantly over the past several years would be an understatement.
In fact, according to census figures released on August 4, 2006, this segment of the population in Mecklenburg County shot up from 45,610 in 2000 to 72,207 in 2005. That’s a 58.3 percent increase. Surrounding counties also showed the same kinds of increase with the exception on Union and Cabarrus counties whose percentages shot up 83.4 percent and 70.2 percent respectively. Although the census figures also showed the state’s Hispanic population standing at about 553,113, other studies contend that the figure is skewed on the low side since many Hispanic families don’t participate in census studies or counts.

Nevertheless, the fact remains that very few businesses are taking advantage of this surge in a population sector.

A study of “The Economic Impact of the Hispanic population in North Carolina” was conducted by John D. Kasarda and James H. Johnson, Jr. This study was completed at the Frank Hawkins Institute of Private Enterprise, Kenan-Flagler Business School at the University of North Carolina at Chapel Hill and was sponsored by the North Carolina Banker’s Association.

One of the study conclusions was that clear opportunities exist for financial institutions and other businesses statewide to capitalize on this increasingly significant market.

Furthermore, the study actually estimated North Carolina’s “real” Hispanic population to be closer to 600,000, that they contribute more than $9 billion to the state’s economy and, if the trend continues, that impact will grow to $18 billion by 2009. In the Charlotte area alone, that economic impact is estimated at over $2 billion plus an additional 16,900 spin-off jobs resulting in an additional $500 million economic impact. Since 1970, the Hispanic population in North Carolina is estimated to have grown by 1,066 percent as compared to 355 percent nationally.

As a result, the study also came to the conclusion that “significant potential exists for Latin American headquartered companies to invest in North Carolina to serve the state’s rapidly expanding population.”

This is especially true in Mecklenburg County with the addition of 26,597 “countable” Hispanic residents now comprising approximately 13 percent of the area’s population.

The study also showed that between the years of 1995 to 2005, the state added 687,579 new workers to its payrolls. Of that number, 241,602 were Hispanic representing a 431 percent increase for that population base. Although a large majority of these workers were employed in construction and agriculture, 8,908 were hired in management, business and financial positions and 8,073 would be considered as professionals or executives. However, a lack of retail and service facilities has caused a “leakage” of buying power versus economic impact of 7.2 percent in Mecklenburg County.

Meanwhile, in 2004, North Carolina exported $4.1 billion in products and services to Latin American countries as compared to $2.9 billion in 1999. The total revenue of these exports was $7,219,834,580 while supporting 68,484 jobs.

WHAT DOES THIS MEAN TO YOU?

It means that if North Carolina businesses, in general, and Greater Mecklenburg Area businesses, in particular, are not taking advantage of these opportunities to serve an enormously growing population, they are missing out on potential profitability of untold sums.

A bilingual/multicultural workplace has become almost a necessity for many companies. However, the true test of acceptance and welcoming of this population base comes not from the general laborer but from the executive suite where decisions on how to best attract this untapped source of profits rests.

Additionally, as more and more Latin American companies move into the area, there is a tremendous gap in their ability to effectively conduct business and develop vendor relations because of the lack of multicultural/bilingual decision makers in executive positions.

This is precisely where Bergman Brothers Staffing & Consulting can put its expertise to work for you!

Because of the background and contacts of our top executives, we are best equipped to sort through the intricacies of finding executive staff of a bilingual and multicultural nature. We understand how to determine the legitimacy of education and work histories where others cannot. As a result, we can help out client partners tap into this fresh marketplace like never before.

Those client partners who can effectively grasp this concept will be best able to serve the local Hispanic population, develop relations with new Latin American companies who headquarter here, and further tap into the international marketplace of Latin America.