The NMSDC Equity Honors 2023–Applications Now Open

LinkedIn
gold cup winner on bokeh background, 3D illustration

The National Minority Supplier Development Council (NMSDC) Equity Honors awards are presented to corporate chief officers who have been recognized by their peers as the true leaders at the vanguard of economic equity and minority business integration.

Submit an application for your CEO, COO, CFO, CIO, CMO, CDO, and CPO of the Year. All applications* must be started** by Dec. 20 to be considered.

Submit Application Here!

*Qualified applications submitted for The Equity Honors in 2022 have been cloned for consideration for the 2023 Equity Honors. Simply log into the NMSDC Awards Portal and update your application, then submit. Previous winners of The Equity Honors are ineligible to apply again for a minimum of 3 years.

**We will reopen the applications in March of 2023 to collect 2022 comparative data that will complete the application. All applications that have been started by Dec. 20 will constitute The Equity Honors Nominees for 2023 with nominees highlighted on the Forum website and invited to the 2023 Minority Business Economic Forum.

For more information about NMSDC visit, nmsdc.org

The Dos and Don’ts of Veteran Interviews

LinkedIn
professional woman seated behind monitor extending her hand

Many civilian employers have admitted challenges when it comes to evaluating a veteran during a job interview. This is often because veterans have difficulty explaining how their military experience relates to the needs of the civilian employer. Additionally, while veterans will be quick to praise their team or unit, they are typically not self-boastful in interviews, so civilian employers can often feel like veteran candidates are not “selling themselves.”

It is important to keep in mind that the concept of professional presentation is often different for former military personnel than for civilians. Military personnel (particularly those recently separated/discharged from military service) will often present themselves with eyes forward, back straight and using “Sir” and “Ma’am” vocabulary (often without much smiling). This behavior may be misperceived as cold, distant, unapproachable or demonstrating a lack of social skills. While this is generally not the case, these perceptions have caused many service members to be discarded early in the interview process.

Employers should recognize that former military personnel may need permission to “speak freely” to create a comfort level where they can appear in the most positive light. Hiring managers should be encouraged to be patient with these candidates and to “dig deep” with follow up questions to find qualities that are not apparent at first glance. It is worth remembering that veteran candidates, unlike many civilian candidates, may not be accustomed to interviewing and may require a little latitude.

Know What You Can and Should Not Ask During an Interview

First and foremost, interviewing a veteran or wounded warrior is no different than interviewing any other candidate. It is important to ask all questions of all candidates, without exception. A good interviewing practice is to ask all candidates the following question: “Have you read the job description? Yes or no — can you, with or without a reasonable accommodation, perform the essential functions of the job?” You are not asking the candidate to disclose whether or not they have a disability but are ensuring they can perform the essential functions of the job. In addition, you make it clear that as an employer you understand this process and are not likely to discriminate due to disability.

Great questions to ask veterans can include:

  • What is in the job description that interests you most?
  • Can you, with or without a reasonable accommodation, perform the essential functions of the job?
  • What type of training and education did you receive in the military?
  • Were you involved in the day-to-day management of people or supplies?

Questions you should NEVER ask veterans include:

  • What type of discharge did you receive?
  • Are you to be called up for duty anytime soon?
  • Did you experience any combat operations?
  • How could you leave your family while you were deployed?
  • Have you ever killed anyone?
  • Do you have post-traumatic stress disorder?

Making a Decision

If you feel like the veteran you interviewed for the position is simply not the right fit, you shouldn’t feel obligated to hire a veteran just because they are veteran. However, you do need to take special factors into consideration when it comes to making a final decision on whether you should hire a veteran:

  • Did the veteran progress throughout his/her military career?
  • Identify the strengths such as leadership, accountability and team building
  • Look for compatibility — did the veteran match their military skills with the position?
  • Remember veterans have a myriad of soft skills, like leadership and flexibility
  • Veterans possess skills that can make them some of your best employees

Make sure that whatever your decision for hiring, that you hire the veteran because they are the best candidate. In the end, it will be the most beneficial to the employer and employee alike.

Sources: Obama White House Archives, Department of Veteran Services Ohio

Taking the Initial Steps to Certification

LinkedIn
Successful businessman clarifying provisions of contract with business partner, discussing terms of agreement, explaining strategy or financial plan

By Natalie Rodgers

If you’re a business owner, then you may already be aware of the basics of Veteran-Owned (VOBE) and Service-Disabled Veteran-Owned (SDVOBE) business certifications. But going through the process to actually obtain the certification can be daunting, especially when considering the paperwork and fees that often go into the process. However, even if your business is thriving by your standards, earning your certification can take your business to new heights. Some of the benefits that certification can bring to your business include:

Funding Opportunities

Money is helpful no matter what kind of business you run, and certification opens the doors to funding opportunities that other businesses can’t access. Every year the government puts aside 23 percent of all of their contracts for small businesses, with 3 percent of that total going specifically towards VOBE and SDVOBE businesses. However, to be eligible to compete for these funds, you have to be a VOBE or SDVOBE certified business. Depending on the network you use to earn your certification, you may also become eligible for other funding opportunities through your certifier.

Corporate Partnerships

Businesses work with other companies all the time, but what a lot of people don’t know is that big name, Fortune 500 companies are often looking to work with minority, women and veteran-owned businesses to increase their supplier diversity efforts. To find these small businesses, these companies go directly to small business certifiers like NAVOBA, the SBA and the VA. When you become VOBE or SDVOBE certified, you will be given access to networking opportunities that could gain you a deal with some of the biggest businesses in the country. These kinds of partnerships can lead to an increase of sales and publicity. Some of the top corporations who have dedicated their efforts to work with veteran-owned businesses include USAA, JPMorgan, FedEx, Lowe’s, T-Mobile, Hilton, Ford and many more.

Resources Galore

Even if you aren’t looking for government funding or corporate partnerships, certification can still benefit your business in tremendous ways. By becoming certified, you gain access to courses, classes, conferences and networking opportunities that can help you grow your business in every aspect. Through whichever certifier you choose, you can learn the best methods of filing your business taxes, handling payroll, marketing your brands, working with social media and so much more.

Veteran Connections

Being certified not only allows you to connect with big-name companies but to other veteran-owned businesses and the customers that support them. When you become certified, you have the perfect platform for connecting with other veterans on their entrepreneurial journey. This can lead to potential business partnerships, mentoring opportunities or even just friendships with other veterans.

So How Do I Get Started?

If the benefits of becoming certified are enticing, but you’re feeling overwhelmed by what may be required of you, remember that you are not alone. If hundreds of veteran-owned businesses across the country can become certified, then you can too. To simplify the process, start with our preparation guide.

  1. Choose the certification that’s right for you. This will depend on your business and your needs.

For those interested in federal contracts, try:

  • The Department of Veterans Affairs: vetbiz.va.gov/vip

For those interested in private contracts, try:

  • National Veteran-Owned Business Association (NaVOBA): apps.adaptone.com/navoba
  • National Veteran Business Development Council (NVBDC): nvbdc.org/certification-landing-page
  1. Gather your documents. The kinds of documents you need will depend on your specific program, but just about any certifier you choose will need the following:
  • Government issued ID
  • Your resume
  • Past tax returns
  • Articles of organization or incorporation
  • Operating agreement
  • Your DD214
  • Payroll information
  • VA Disability Documentation (SDVOSB certification)
  1. Utilize your certifying organization’s contacts. If you run into any trouble during the application process or just need clarity on what to do next, feel free to reach out to your organization via the email or telephone number provided on their website. They are willing to assist and want to help you get your certification.

 

Sources: NaVOBA, US Chamber, Fulton Bank, Veteran Owned Business Round Table, Indeed

FOX Nation’s 4th Annual Patriot Awards Ceremony Benefitting the American Red Cross is Tonight

LinkedIn
Fox Nation Patriot Awards

By Kellie Speed

FOX Nation is hosting its fourth annual Patriot Awards at Hard Rock Live in Hollywood, Florida, tonight. You can catch the patriotic show live at 7 p.m. ET on FOX Nation, and it will also be offered in a repeat presentation on FOX News Channel on Sunday, November 27, at 10 p.m. ET.

Each year, the awards show honors standout Americans who have gone above and beyond the call of duty in support of this great nation. The event gives true American heroes the recognition they deserve.

“It is the awards show that America needs and that America deserves,” said FOX & Friends Weekend co-host and Iraq and Afghanistan war veteran Pete Hegseth, who will return for his fourth year as the emcee.

Hegseth will join FOX News Media personalities Tucker Carlson, Sean Hannity, Laura Ingraham, Jesse Watters, Greg Gutfeld, Steve Doocy, Ainsley Earhardt, Brian Kilmeade, Judge Jeanine Pirro, the cast of The Five, Harris Faulkner, Will Cain, Rachel Campos-Duffy, Dan Bongino, John Rich, Mike Rowe, Nancy Grace, Lawrence Jones, Johnny Joey Jones and Abby Hornacek.

This year’s Patriot Awards include the Most Valuable Patriot Award, Heroism Award, Service to Veterans Award and Back the Blue Award. Additionally, The Five (weekdays, 5 p.m. ET), Tucker Carlson Tonight (weekdays, 8 p.m. ET) and Gutfeld! (weekdays, 11 p.m. ET) will present live shows at the venue.

Last year’s Patriot Award recipients included “Most Valuable Patriot” Olympic Gold Medalist Tamyra Mensah-Stock; Award for Heroism recipient Lt. Col. (Ret.), Former Green Beret Scott Mann for his work in Afghanistan with Task Force Pineapple; “Modern Warrior” recipient Army Sergeant First Class John Goudie, and the “Courage” award recipient posthumously awarded to Todd Beamer in United Airlines Flight 93 (accepted by his parents David and Peggy Beamer).

They also paid a humbling tribute to the nation’s 13 fallen heroes killed on August 26, 2021, during the United States withdrawal from Afghanistan – Marine Corps Lance Corporal David L. Espinoza, Marine Corps Sergeant Nicole L. Gee, Marine Corps Staff Sergeant Darin T. Hoover, Army Staff Sergeant Ryan C. Knauss, Marine Corps Corporal Hunter Lopez, Marine Corps Lance Corporal Rylee J. McCollum, Marine Corps Lance Corporal Dylan R. Merola, Marine Corps Lance Corporal Kareem M. Nikoui, Marine Corps Sergeant Johanny Rosario Pichardo, Marine Corps Corporal Humberto A. Sanchez, Marine Corps Lance Corporal Jared M. Schmitz, Navy Hospital Corpsman Maxton W. Soviak and Marine Corps Corporal Daegan W. Page.

Keep an eye out in the next issue of U.S. Veterans Magazine for a full feature on the event.

For more information, be sure to visit nation.foxnews.com

Business Beyond the Battlefield Conference: Elevates Entrepreneurs

LinkedIn
Business Beyond the Battlefield Conference

The Business Beyond the Battlefield Conference is embedded as an annual entrepreneur ecosystem event for transitioning veterans, disabled veterans, National Guard, active and reserve component members and military spouses who are interested in growing the U.S. economy and its employment base while adding value to the communities in which they live and serve.

The October 5‑7 three-day hybrid experience hosted more than 200 attendees from 15 states at the Sheraton Arlington Hotel in Arlington, Texas. This year’s conference included an exclusive and in-depth two-day pre-conference financial statement workshop facilitated by Steve Lefever, founder of ProfitMastery, for 20 selected military-connected business owners. Kimberly Henry, who attended the pre-conference workshop, stated, “the content was challenging, but I have a better understanding of how I need to manage and present my business financials to lenders and pitch competition judges.”

More than 30 conference speakers shared information to increase awareness of entrepreneurial resources, facilitate access to SBA resource partners and access to capital partners, and deliver a memorable experience. Dynamic speakers included SBA Associate Administrator Larry Stubblefield; Andy Williams, former HGTV Flip or Flop Fort Worth star and founder of Rehab Warriors; a lineup of SBA resources partners, including leaders from the Small Business Development Centers, SCORE, the Veterans Business Outreach Center Program and the Women’s Business Center. Existing veteran business owners shared their paths to success through panel discussions. “I attended BBBC19 and learned about franchise opportunities, and now I own two franchises,” said PK Kelley, who presented as part of the franchise panel.

In addition to the NFL Thursday Night Football watch party at TexasLive, the 2022 conference highlights included Melissa Washington presenting a check for $3,500 to Jaquelyn Garrick, who won the Women Veterans Giving Entrepreneur of the Year Award. BidExecs Franchising, LLC (BidExecs), the first and only franchise supporting government contractors to grow their business through robust business development, capture support and proposal solutions partnered with Business Beyond the Battlefield to identify highly qualified veterans to join their network. As such, Archie Smith was awarded a $30,000 BidExecs franchise. “Archie’s knowledge, experience and deep-rooted commitment to serving his local community businesses directly align with BidExecs’ servant leader values,” said Reena Bhatia, CEO of BidExecs, who sat down for a fireside chat at the conference.

“I love the conference. I was able to come in here and [receive] a variety of information about franchising, government contracting, how to get capital…,” said one attendee. Another attendee said, “If you’re just starting out and you want to know how to operate a business, this is the place to be…” Like the attendees, Business Beyond the Battlefield Conference founder Patrick E. Alcorn said, “It was a great experience, and I can’t wait until next October.”

Check out the BBBC22 highlight video!

To find out more, visit bbbc.uta.edu/.

Veterans Day Freebies & Discounts for 2022!

LinkedIn
Veterans Day Freebies and Discounts promo

In honor of Veterans Day, several businesses and organizations have come together to offer their best deals to military personnel and their families.

Take a look at some of the best deals you could use this month!

Unless otherwise stated all discounts will:

  • Apply to military veterans and active-duty servicemembers
  • Be obtainable on November 11th
  • Need a valid military ID or a Veterans Advantage card to obtain

 

 

 

Food and Drink

  • Applebee’s: Free meal from a select menu and a $5 Bounce Back Card to be used for a future visit
  • Big Boy Restaurants: Free meal voucher for a future meal
  • BJ’s Restaurant and Brewhouse:Free meal from a select menu when you dine-in
  • Bob Evans:Free meal from a select menu
  • Bombshells Restaurant & Bar: Offering free entrees for veterans at all 12 company-owned and franchised locations in Texas on Nov. 11. Other items will be discounted at 20%, and accompanying families will receive a 20% discount on entrees and other items. Note: This free meal doesn’t apply to active duty; but active duty will get a 20% discount. All other days of the year, active duty and other veterans can receive a 20% discount.. Check beforehand what identification can be used for the discount.
  • California Pizza Kitchen: Offering a free nonalcoholic beverage and choice of one entree from a special menu, to active duty and other veterans, on Nov. 11.
  • Chop House: 50% off entrees
  • Coco’s Bakery and Restaurant: Free slice of pie and BOGO free entrée
  • Dunkin’ Donuts: Free donut
  • Golden Corral: Free meal from 5pm to close on November 14th
  • Hawaiian Bros: Free plate lunch from 11am to 11pm. Also applicable to military families and friends.
  • IHOP: Offering free red, white and blueberry pancakes from 7 a.m. to 7 p.m. on Nov. 11 to active duty and other veterans. Proof of service required.
  • Insomnia Cookies: Free six-pack of cookies with any in-store purchase
  • Krispy Kreme: Offering a free doughnut and a small brewed coffee to active duty and other veterans, on Nov. 11.
  • Little Caesars: Offering free lunch combo at participating locations while supplies last, between 11 a.m. and 2 p.m., Nov. 11, to active duty and other veterans. Features four-slice deep dish pizza with pepperoni, and a 20-ounce Pepsi product. Military ID or DD214 required.
  • McCormick and Schmick’s Seafood Restaurants: 50% off entrees on November 13th. Also applicable to Gold Star parents and Gold Star spouses.
  • Peet’s Coffee: Free drip coffee or tea. Also applicable to military spouses.
  • Red Lobster: Free Shrimp, fries, coleslaw, and other select items for dine-in and to-go orders placed between 11:00am-4:00pm
  • Red Robin: Free Red’s Tavern Double Burger for dine-in
  • Smashburger: One free burger or sandwich
  • Starbucks: Free tall hot brewed or iced coffee. Also applies to military spouses
  • TGI Friday’s: Free lunch for dine-in on November 11th from 11am-2pm from a select menu.
  • Tuscan Brands Restaurants: Offering a free family style meal to veterans and their guest from 11 a.m. to 4 p.m., Nov. 11, at their locations in Boston, Burlington and Newburyport, Massachusetts; and Salem and Portsmouth, New Hampshire. RSVP by calling the restaurant or online at tuscanbrands.com/veteransday. The restaurants include Tuscan Kitchen, Tuscan Sea Grill & Bar and Toscana Italian Chop House & Wine Bar.
  • Wendy’s: Free Breakfast combo order
  • White Castle: Free Combo Meal or Breakfast Combo Meal for dine-in
  • Yard House: Free appetizer when you dine-in

Shopping

Services

  • Crunch Fitness: Free seven-day trial from November 7-13th and discounted membership rates. Also applies to first responders. Free trial also eligible to military families. Other
  • Goodyear Tire: Free inspections on tires, brakes, and batteries. 10% off tires and services. Appointments must be made between November 10th-14th and services can be redeemed through November 17th. Also applicable to first responders.
  • Great Clips: Free haircut or a free haircut card for a future visit. Non-military members who visit on November 11th will be given a free haircut card to give to a veteran or servicemember in their life. These cards must be redeemed before December 9th
  • Hertz: 20% off base rental rate when you book between November 7th-November 11th
  • Jefferson Lines: Free tickets for travel. Must be obtained by November 11th and redeemed by November 23rd.
  • Just Tires: Free inspections on tires, brakes, and batteries. 10% off tires and services. Appointments must be made between November 10th-14th and services can be redeemed through November 17th.
  • La Quinta: 12% off best available rate. 1000 bonus points will be given for stays booked by December 11th and completed by December 12th
  • Magnolia Wash Holdings: Free Car Wash at Magnolia Wash Holdings, Whistle Express, Camel Premium Express, and The Wave Carwash locations
  • Red Roof: 15% off bookings from November 1st to December 30th. Must use code: VP 623095
  • Sports Clips: Free haircut
  • Super 8: 15% off best available rate. 1000 bonus points will be given for stays booked by December 11th and completed by December 12th

Recreation

  • Aquarium of the Pacific: Free admission
  • Country Music Hall of Fame and Museum: Free admission, also applies for three guests of the servicemember
  • Knott’s Berry Farm: Discounted admission for themselves and five guests from November 1st-November 17th and November 18th– December 15th
  • Lindbald Expeditions: 20% off select itineraries for select departures. Bookings must be made by November 30th.
  • Mount Vernon: Free admission
  • National Parks: Free admission
  • Pro Football Hall of Fame: Free admission and parking for the Veterans Day Event and Expo, 20% off for the Hall of Fame store
  • Six Flags Discovery Kingdom: Free Park admission, parking, meal voucher, and swag items on Veteran’s Day. Four family members of the servicemembers are eligible for discounted tickets of $19.99
  • True REST Float Spa: Free 60-minute float therapy session. Available on the 11th of every month. All locations will be exclusively serving service members on Veteran’s Day
  • Winchester Mystery House: 30% off from November 11th – December 31st. Also available to family members
  • World of Coca-Cola: Free admission through November 13th. 50% off 4 additional tickets for friends and family members
  • Zoos: Many Zoos are offering free or heavily discounted admission, including rates for immediate family members. Inquire with your local zoo for details.

Women Leaders at Bloomberg From Around the World Share Their Career Experiences

LinkedIn
collage of professional women

With offices around the world, Bloomberg provides its employees with opportunities to hone their skills and expertise, progress to new roles, take on stretch assignments, and gain valuable insights through their work.


Below, a few of our female leaders share their career experiences, including working in different offices, experiencing new cultures, building support networks, and their advice on how to progress, professionally and personally.

 

Rieko Tada

Pictured top left
Data training & development
Dubai

What has helped you get to where you are today in your career?

I am very fortunate to have had the opportunity to work at multiple offices in different business units and meet amazing colleagues and managers who support me. Most pivotal was probably the move from the Tokyo office to New York as a team leader. The office and business size, language, and lifestyle are so different. I had to learn and adapt. Managers and colleagues in New York welcomed and helped me; colleagues in Tokyo connected me to their networks so that I could build new relationships with people in the US office.

What piece of advice would you give to others?

Always be curious. Don’t hesitate to reach out to people you can build connections with and learn from. This year, I’ve taken on a new role, joining the Data Training and Development team in Dubai. When I was in Japan, I never imagined living in Dubai, but new opportunities always come up, as long as we are inquisitive and never stop learning.

We work on purpose. Come find yours.

SEARCH JOBS

Yinka Ibukun

Pictured top middle
West Africa bureau chief
Accra, Ghana

What has helped you get to where you are today in your career?

Seeking out feedback. Most people find it difficult to give candid feedback, so it helps to show that you’re open to it. Also, training your ear to sift out emotions and other distractions and extracting information you can actually use will help you become a better professional, and person. Both my best managers and closest friends have been people who give helpful feedback. I think that’s a gift.

What piece of advice would you give to others?

I definitely have my community: people who I trust to have my back and who can rely on me to do the same. That comes from investing in relationships over time. So, when you make a strong connection with someone, don’t take that for granted. Build your community.

Andrea Jaramillo

Bureau chief
Pictured top right
Bogota, Colombia

What has helped you get to where you are today in your career?

I can’t stress enough how important teamwork is in what we do. Throughout my years at Bloomberg, I’ve had the opportunity to work with a lot of amazing people across different countries and cultures. With each role, you develop new skills and learn from those around you. So even when things feel difficult and challenging, just know you’ll come out stronger on the other side!

What piece of advice would you give to others?

Be open to taking on new challenges. Bloomberg is an exciting place to work, one where you know you can’t get too comfortable in one spot because things change and you might find yourself taking on a different role, or one in a different office, country or continent. In an ever-moving world, we constantly need to reinvent ourselves and learn along the way.

Carolina Millan

Pictured bottom left
Bureau chief
Buenos Aires, Argentina

What has helped you get to where you are today in your career?

I started as an intern in 2015 in New York and in September of that year I moved to Argentina to cover markets, first with a focus on bonds, and later dedicating more time to publicly-traded companies. Since 2019, I’ve overseen Bloomberg’s coverage of Argentina, Uruguay and Paraguay, managing a team of six talented journalists who routinely break news on the biggest stories in the country.

When I look back to things that helped me advance in my career, I think about the importance of being open to new projects and opportunities and putting my hand up to participate. Bloomberg is a very fast-paced environment, where priorities and internal structures change every few years, and it’s important to be flexible and find ways to contribute to the latest projects. In my case, that has meant everything from jumping to cover regional conferences, moderating panel events, doing live radio and TV hits for Bloomberg shows, developing local Spanish-language coverage, and delving into new key coverage areas, like start-ups.

I also feel grateful to my managers and mentors, who encouraged me to get involved with projects beyond my comfort zone, take on different responsibilities, and consider the jump into a management role.

Merry Zhang

Pictured bottom left
Head of China Market Specialists
Shanghai

What has helped you get to where you are today in your career?

Not shying away from challenges. In my career, I’ve needed to face gaps and problems beyond my primary responsibilities many times. And, while I might not be the expert to solve a problem, I never shy away from it. As long as a challenge is crucial to the business, I always speak up, take full ownership, and move forward to solve it.

What piece of advice would you give to others?

See changes as opportunities. At Bloomberg, changes happen daily. Market, product, even team structure are constantly evolving.  I have seen people react negatively to changes, but the ones who can turn changes into opportunities are always rewarded at the end.

Alyssa McDonald

Pictured bottom middle
Executive editor, Bloomberg News
Sydney

What has helped you get to where you are today in your career?

A mixture of good luck and hard work. I’m very fortunate to have had supportive bosses throughout my career, who have repeatedly encouraged me to take on new and bigger projects (and helped me find ways to get them done).

For my part, I’ve tried to repay that good will by saying yes to opportunities when they’re offered and then being diligent about getting those things done.

What piece of advice would you give to others?

When you’re looking to change something about your job – whether it’s a new role or a move to a different bureau, you should think about what’s in it for your manager. Or the person you want to be your next manager. The more you can explain how they’ll benefit by giving you what you want, the more likely you are to get it.

Click here to read the full article on Bloomberg.

The Latinx Community’s Growing Influence

LinkedIn
Latina reading magazine

The United States is currently experiencing a massive demographic shift, led in large part by the nation’s Latinx population. This group is growing rapidly, quickly becoming the most culturally and economically influential community in the country.

According to the 2020 U.S. Census, the country’s Hispanic or Latinx population grew from 50.5 million in 2010 (16.3% of the U.S. population)  to 62.1 million in 2020 (18.7%). That’s an increase of 23 percent. In fact, slightly more than half (51.1%) of the total U.S. population growth between 2010 and 2020 came from growth in the country’s Latinx population.

It is no surprise then, that Latinx people have a massive effect on the U.S. economy. Their buying power is expected to reach $1.9 trillion by 2023, according to a report from Nielsen. This is up from $213 billion in 1990, marking an over 200% growth rate, more than double the growth in buying power of non-Latinx consumers.

This community’s economic influence reaches all industries, and it is critical that businesses gain a deeper understanding of Latinx culture. Doing so will allow business leadership to both better support employees and more effectively appeal to customers.

Understanding the Hypercultural Latinx individual

Among young Latinx people, there has been a rise in what is known as the “Hypercultural Latinx.”

Hypercultural Latinx people are often first-generation Americans who straddle both U.S. culture and their parents’ native Hispanic cultures. This group feels deeply connected to both aspects of their identities and has, in a sense, created their own blended, hybrid culture. As Ilse Calderon, an investor at OVO Fund, wrote on TechCrunch, a Hypercultural Latinx person is “100% Hispanic and 100% American.”

So, what do they want to buy? While Latinx people are clearly not a monolith, there are a few key trends across the community. According to research in the PwC Consumer

Intelligence Series, the Latinx population is especially enticed by new tech products. They are active on TikTok and exceedingly more likely to use WhatsApp and other social media platforms than other groups.

Nielsen also found that 45% of Latinx consumers buy from brands whose social values and causes align with theirs. This is 17% higher than the general population. Latinx people also share strong family values, as well as pride in their distinct cultural heritages. That is why organizations must engage the Latinx community and invite Latinx people to share their experiences.

It is pivotal that business leaders understand that “Latinx” is not a single streamlined culture. Rather, it is a diverse mix of traditions, nationalities, and values.

Embracing these cultural nuances is a key to understanding Latinx audiences. Organizations must consider methods to appeal to distinct Latinx groups, rather than marketing to the group as a whole.

Cultivating and advancing Latinx talent in the workplace

It isn’t only consumers that businesses should be thinking about. Latinx talent has also accounted for a massive 75% of U.S. labor force growth over the past six years, according to Nielsen. Nevertheless, only 3.8% of executive positions are held by Latinx men, and only 1.5% of are held by Latinx women.

Clearly, companies have a lot of work to do to attract and cultivate Latinx talent—and it all starts with recruitment. To ensure a diverse work force, companies must utilize culturally competent recruitment strategies that not only make new positions appealing to a variety of job seekers, but also give every applicant a fair chance.

According to an article in Hispanic Executive, understanding cultural differences can help recruiters create job descriptions that more effectively appeal to different communities. For example, the Latinx community feels a more communal sense of identity, compared to the more individualistic sense of identity in European-American culture. Recruiters should keep this in mind when thinking about what necessary skills they are highlighting for available roles.

Click here to read the complete article on Bloomberg.

Ballistic Detecting Undergarment Might Save Your Life

LinkedIn
Alexander Gruentzig, CEO of Legionarius talks to Army Times at AUSA about a shirt that can detect penetration injuries.

Quickly identifying and treating serious wounds is an age-old problem that’s killed countless soldiers, but it could see a solution in new technology that uses embedded sensors to detect, alert and one day treat injuries.

The Smart Shirt for Wound Detection has been tested by soldiers, airmen and special operations forces recently and could be ready for fielding in the next year, Legionarius chief operating officer and co-founder Dr. Alexander Gruentzig told Army Times.

The shirt was on display at the annual Association of the U.S. Army Meeting and Exposition Monday as one of the recent xTechSearch competition winners.

Shot Detection system being demonstrated

The government program solicits technology solutions to solve big Army problems and winners receive small business innovation grants to further their research.

“They can detect any kind of wound. The garment detects any type of penetration, anything that can cause massive hemorrhaging,” Gruentzig explained Monday. “We’re trying to decrease the time from injury to point of treatment.”

Read the full story on Army Times

 

Black Wealth Transfer and Confronting the Racial Wealth Gap

LinkedIn
Black mature businessman working on laptop

The second installment of Bloomberg’s Power of Difference series on Black wealth offered a deep dive into issues that impact intergenerational Black wealth transfer. The three part series, hosted by Bloomberg LP and Bloomberg Philanthropies, seeks to highlight and encourage dialogue about the structures that aid in Black wealth accumulation and extraction.

Speakers discussed why wealth transfer remains pivotal to building wealth in the United States and explained how the historical lack of opportunity for Black families to preserve and pass on wealth has contributed to the prevalence of racial wealth inequality today.

 

Inherited wealth plays a pivotal role in advancing the economic launch point for future generations. Despite the pervasiveness of the American rags to riches story, the wealthiest families have certainly benefited from this capital infusion power–about 30% of the Forbes 400 inherited at least $50 million. Middle and working-class families can use transferred capital and assets to boost emergency savings, make down payments on homes, pay tuition for private schools and higher education, and invest in the financial markets or new entrepreneurship.

Black families, however, are five times less likely than white families to receive a sizable inheritance. When they do, the amount is still typically three times lower on average than what white families receive. This disparity has contributed to Black Americans falling behind in wealth accumulation while white generational peers are empowered to move towards further economic stability and advancement. Black families have certainly been capable of growing assets even in the shadow of Jim Crow and other forms of systemic racism that persist to this day. So why haven’t they been able to hold on to this wealth and pass it to their heirs?

Before the Race Massacre of 1921, the Greenwood district in Tulsa, Oklahoma, was a vibrant, thriving community of Black residents, like many of the “Freedmen’s Towns, and “Freedom Colonies established after the Civil War. Families there owned land, operated businesses, and ran community-sustaining institutions to create property wealth with an estimated value of over $200 million in today’s dollars, earning Greenwood the moniker “Black Wall Street.” When the Greenwood neighborhood was burned to ashes during a violent racial attack, hundreds of residents lost their lives and businesses, thousands of survivors were left homeless and impoverished, and many of them were hunted down, executed, or imprisoned. Laws were passed by the city of Tulsa to impede the rebuilding of Greenwood by survivors and their families. The most disheartening part of Greenwood’s story: this was not an uncommon occurrence.

In Chicago alone, approximately 1,000 Black homes and businesses were burned down during the Red Summer of 1919, a season of racism-fueled on Black communities across the nation. The segregation and violence of Jim Crow, in particular, have been theorized to have had a pervasive impact, stifling Black innovation and entrepreneurship with the threat of violent reprisal for Black wealth building.

In the latest Power of Difference event, speakers discussed how racially driven violence toward Black people like in Tulsa, Chicago, and elsewhere — particularly during the several decades following the abolishment of slavery — was used to rob Black people, destroy their property and intimidate them from building wealth. Government policies, local and federal, often neglected to protect Black communities from this ongoing threat, and instead have codified many racially discriminatory policies such as redlining, government seizures under eminent domain, and disenfranchisement. In turn, such practices have systematically destroyed and eroded the value of Black wealth since the Reconstruction era, with the effects felt to this day.

Pathways to recovery and resilience

Despite economic impediments and discriminatory policies, strategic options and vehicles for securing assets can help more Black families strengthen the economic mobility of future generations. Session speakers painted a detailed picture of how to address these systemic injustices: loopholes in state property inheritance laws can be closed; discriminatory institutional practices and local ordinances, such as those that might assign more value to land according to who owns it, can be revoked; and concentrations of wealth in Black communities, like those created in Greenwood can be systematically encouraged through initiatives that can start at the individual level.

Sean Anderson, a curator from The Museum of Modern Art, discussed the Reconstructions, Architecture, and Blackness in America exhibition he created with scholar and architect Mabel Wilson and 11 Black architects, designers and artists. Supported by Bloomberg Philanthropies, the project aims to encourage reflection on how Black communities strive to build and rebuild in the face of economic and social challenges, and “…how history can be made visible and equity can be built”. The exhibition sparks questions about topics such as “What might our nation look like today if all-Black towns of the past had been allowed to thrive?” and “How might Black community spaces be used to prepare for threats imposed by climate change?”

Reggie Lee, Partner and Chief Transformation Officer at The Carlyle Group described the ten-year journey he took to reclaim the family land that his great grandmother, a formerly enslaved person, had purchased during the Reconstruction era. His story serves as a case study for reclaiming and preserving family-owned assets. For example, to keep the newly reclaimed property intact for future generations, using a trust to ensure legacy building.

The panel Q&A delved into reasons for the continued loss of Black assets and different ways better laws, policies, and individual practices could help reverse this trend. Lack of wills and vehicles like trusts, for example, can make family land and other asset claims vulnerable to loopholes in policies, such as heirs property laws (aka ownership in common) or inheritance taxes. However, it is estimated that 70% of Black Americans do not have a will or estate plan.

Click here to read the full article on Bloomberg.

Understanding the Emotional Tax on Black Professionals In the Workplace

LinkedIn
diverse business group walking and talking

Corporate hiring managers no longer need to argue the case for diversity. Data from the Pew Research Center suggests that eight-in-ten Americans value racial and ethnic diversity in the workplace, with 45% of survey respondents citing diverse perspectives and equal opportunity as grounds for increasing diversity. Another 34% see a clear business case for diversity, too, as it leads to a larger pool of potential workers.

Yet, diversity is only a starting point. Inclusion, the behavior that welcomes and supports diversity in corporate culture, goes beyond the obvious missed opportunities for great talent. Inclusion is a necessary tool for growth and competitiveness.

For people of color, coping with discrimination can create the burden of an “emotional tax” in the workplace. This emotional tax is defined as ‘the heightened experience of being treated differently from peers due to race/ethnicity or gender, triggering adverse effects on health and feelings of isolation and making it difficult to thrive at work.’ Nearly 60% of women and men of color have experienced this burden, according to a survey by Catalyst. When employees of any background don’t feel that their perspectives are welcomed and included, the company bottom line can suffer, too.

The Black tax

This emotional tax is often referred to as the “Black Tax,” because of its particular impact on Black people.

Data indicates that, while a majority of Black survey respondents reported facing discrimination, those with college or higher education experience were even more likely to say they have been affected. As many as 62% of Black workers in STEM fields—as compared to 44% of Asians, 42% of Hispanics and 13% of whites—revealed they have experienced various forms of racial or ethnic discrimination at work, including earning less than a coworker with the same role and receiving less support than their peers from managers. When Black workers face racial discrimination, bias, and microaggressions in their daily professional environment, their emotional and financial wellbeing can be affected.

When faced with bias and discrimination, Black workers may feel obligated to code-switch, a method of alternating between ways of self-expression, appearance, and behavior in the workplace, to downplay racial differences and connect with colleagues. This suppression of one’s racial identity can come at the cost of authenticity and self-confidence, and thus, decrease a sense of belonging in a work environment.

This discrimination also forces Black employees to contend with hypervisibility, the feeling of being overly visible for one’s race or ethnicity, while their unique skills and personalities seem invisible to others. While this phenomenon has been an issue for years, its effect is being felt now more than ever in the aftermath of the murders of Black Americans like George Floyd, Breonna Taylor, and Tony McDade, as well as the global Black Lives Matter protests that followed.

Intersectionality of multiple challenges

Facing the intersectional pressures of race and gender bias, Black women, especially, may need to navigate situations of gender bias more carefully, including things like being asked to do office housework or being interrupted while communicating in the workplace. Other situations that stem from racial bias, such as having their hair touched without consent or being told that they are exceptionally articulate or not like others of their race, can also take a toll. A common solution offered to women to thrive in the workplace is to “lean in” or be “more assertive.” However, due to pervasive stereotypes, Black women may be labeled as “angry,” or subjected to racially biased reprisals when speaking up for themselves.

Since the burden to stay vigilant against bias can impact an employee’s self-confidence, career path, and retention within an organization, it’s no surprise that professional and financial repercussions follow. This constant attention can become a job within a job, or, at the very least, an energy-draining distraction. Black employees in non-diverse and non-inclusive workplaces may lack access to the senior leaders and spheres of influence that could provide paths for career progression. The racial wage gap embedded in the corporate system, combined with the diminished opportunity to connect and move forward, can impact earning potential throughout a career.

The Black tax, being pervasive, also threatens the ability of Black families to build generational wealth. When Black employees earn fewer wages than their white counterparts, they have access to fewer opportunities for building net worth—via savings and investing—and ultimately, less to provide for and pass onto their families. As many Black professionals may be the first in their families and communities to have college degrees (along with the access to white-collar income), they often support extended families during their earning years. Thus, the burden of the Black tax can cast a far-reaching shadow over the economic health of Black communities.

The company bottom line takes a hit

Lack of diversity and inclusiveness can weaken the path to management for internal talent and make attracting innovative new stars a challenge. Unspoken pressure on people of color to be more qualified, more professional, and harder working than their colleagues just to be valued on par, can lead to reduced productivity, costly health struggles, and high turnover for this group. Data also indicates that employees who are not carrying that emotional tax burden may also become disenchanted with their organization’s intolerance for diverse POVs and will subsequently leave, as confirmed by 72% percent of respondents surveyed in a Deloitte Poll. Nearly two-thirds (65%) of employees surveyed in an SHRM study felt that the respectful treatment of all employees was a very important factor in their job satisfaction.

Companies that optimize productivity from a wide variety of people tend to perform better than companies that don’t. Exposure to diverse colleagues helps everyone learn to adopt inclusive practices. The results can include increased retention and employee engagement, broader attraction of top talent, better brand image within the community, stronger financial performance, and greater innovation.

Attracting the best talent and connecting with one’s customer base requires acknowledging women of color as an integral part of the available hiring pool. Women and people of color comprise 63% of the population, but account for less than 30% of senior business decision-makers. Women of color also make up the majority of the global female population. While strides toward gender inclusion show that approximately “1 in 5 C-suite executives is a woman,” still “only 1 in 25 C-suite executives is a woman of color.”

Click here to read the full article on Bloomberg.

Providing Business, DVBE. Employment & Educational Opportunities For Veterans

American Family Insurance

American Family Insurance

Leidos Video

USVM Commercial

lilly

Alight

Alight

About USVM

Heroes with Hearing loss

VIBN Conference

Upcoming Events

  1. Multiple Hire GI Hiring Events During June-December!
    June 21, 2022 - December 8, 2022
  2. REBOOT WORKSHOP – VIRTUAL
    September 12, 2022 @ 8:00 am - January 20, 2023 @ 5:00 pm
  3. Elder Customers –Treating Customers with Empathy–Virtual Event
    December 14, 2022
  4. 2-Week Virtual REBOOT Workshop
    January 9, 2023 - January 19, 2024
  5. CCME 2023 Professional Development Symposium
    January 23, 2023 - January 26, 2023