When Is Experience a Liability and Inexperience an Asset? [Part 1]

Portrait of an young man is using the futuristic latest innovati

Three ways the Hispanic talent pool can benefit business.

The Hispanic community is the fastest-growing minority group in the United States. It is also a group that is underrepresented in the workforce. There is a missed opportunity for businesses, as young, inexperienced Hispanic talent can bring a fresh perspective and new ideas to the table.

Here are three examples:

  1. New perspectives. Young people from the Hispanic community have different experiences and perspectives. They may have grown up in different cultures, spoken different languages, and faced different challenges. This diversity of experience can be a valuable asset for businesses, as it can help them to better understand their customers and the communities they serve.
  2. New ideas. Young people are often more open to new ideas and ways of doing things than their older counterparts. They are also more likely to be comfortable with technology and social media. This can be a huge advantage for businesses, as it can help them to stay ahead of the competition.
  3. A commitment to hard work. Hispanic immigrants are more likely to start their own businesses than any other ethnic group in the United States. This is a testament to their strong work ethic and entrepreneurial spirit. Businesses that hire young, inexperienced Hispanic talent can be confident that they are getting employees who are willing to work hard and contribute to the success of the company.

Of course, there are some risks associated with hiring young, inexperienced talent. 

They may not have the same level of skills and experience as older workers, and they may need more training. However, the benefits of hiring young, inexperienced Hispanic talent far outweigh the risks. Businesses that are willing to give these young people a chance will be rewarded with a workforce that is diverse, innovative, and committed to hard work.

In the past, people used freelancing as a casual stop over to earn an income when between jobs or were forced to become a freelancer as they could not find a suitable full-time job, essentially, they were freelancing out of necessity. 

In recent years more people are becoming a freelancer by choice.

This is possible because we got smarter about work life balance, and because the amount of productive knowledge we hold expanded dramatically among a broader set of creative individuals capable of increasing their productivity.

The enormous income gaps between rich and poor are an expression of the vast differences in productive knowledge amassed by different individuals, and now those gaps are about to become exponentially wider!

The growth of the gig economy is expected to include more than 30% of the labor market (Gallup), and it represents a shift in the way new generations view work. 

The gig economy stands in contrast to the traditional economy where people are directly employed fulltime, rarely change positions, and focus on their lifetime career.  This new generation chooses to enter the gig economy for the flexibility, freedom, and personal fulfillment that it provides them.

Much of the world’s current workforce policies and social safety were developed earlier in the 20th century with a different work culture in mind. Many freelancers use more than one platform to try to ensure a steady and constant flow of work they can rely on. New generations will demand more from employers.

It’s no longer enough to provide stability/safety, but meaning and purpose, through great culture and work environment.

Businesses must recognize that this shift is already happening and be prepared to adapt as the gig economy comes with both benefits and challenges. For example: a great percentage of gig workers do not have access to employer-based benefits, leaving them vulnerable to the key financial risks.

Stay tuned for part 2!

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