Four years after its unveiling, the Promesa Hispana 2.0 regulatory framework was relaunched Thursday at the World Economic Forum in Davos, and which is the first corporate commitment to make US companies create inclusive environments and hire more Hispanic American workers.
“The initiative is an evolution of the inclusion framework that was launched four years ago in this same place and to which very detailed indicators have been incorporated so that companies can know what level of sensitivity and integration they are at with respect to workers, consumers and professionals of Hispanic origin,” Claudia Romo Edelman, founder and president of the We Are All Human Foundation, which promotes the integration and promotion of the US Latino population in companies, told Spanish news agency EFE.
The framework sets out goals, best practices, indicators and reporting mechanisms that will guide companies in making their hiring more inclusive. Since its launch, the framework has been signed by more than 300 companies and endorsed by 30 Hispanic organizations in the US.
The key proposals of Promesa Hispana 2.0
- Companies that voluntarily adhere to the proposal will be provided with benchmarks that will allow them to know at what level of commitment they are at regarding the hiring of Hispanics.
- The basis of the framework is the 17 United Nations Sustainable Development Goals, but highlights four as the most relevant: Good Health and Well-Being, Quality Education, Gender Equality, and Decent Work and Economic Growth.
- Six pillars were established to advance the ultimate goal: prepare, hire, retain, promote, celebrate and buy or invest.
The We Are All Human Foundation’s president Romo Edelman points out that the pandemic brought to light the existing inequities within companies in the United States with respect to Latino employees, but also notes that, following the murder of George Floyd by a policeman in Minneapolis in 2020, and the ‘Black Lives Matter’ movement, “many companies focused on reaching out to the African-American community, but after that pressure and urgency, according to Romo, “now they are seeing where the growth is”.
The promoter of this regulatory framework remarks the importance of the Latino population, which represents 20% of the population, 12% of the GDP, and $2 trillion in purchasing power.”
“There is no way a company can grow or sell or hire without the Latino community in the U.S.,” she says.