The Hispanic Gen Y cohort have both similarities and differences from the mainstream Millennials.
Some of the similarities that Latino Millennials share with the rest of their Gen Y cohort is they both were raised with very involved parents who focused resources on their children. The expectation of technology is shared by both since they have not known anything other than instant information. Diversity is defined as global and is embraced by all Millennials.
The difference between the mainstream Millennials and the Hispanic Millennials is the desire to follow Latino/Hispanic traditions.
The Hispanic/Latino Millennials (Gen Y) contribute more to the household expenses compared to non-hispanic Millennials (Sensis, 2013). Many Latino Gen Yers live in a multi-generational household which is made up of grandparents, parents, children and grandchildren therefore a strong tie to the “La Familia”.
Latino Gen Yers key traits are “empowerment, aspiration, success, upward mobility and pride” according to Enrique Turegano, Vice President and Chief Business Strategist at alPunto Advertising, Inc.
According to Sergio Fernandez of Hispanic Alliance for Career Enhancement (HACE), “Latino professionals have key differences including acculturation, country of origin and generation in the U.S”. The Hispanic/Latino Millennials (Gen Y) are optimistic about their future and believe in the “American Dream”. The “American Dream” includes higher education, providing for the family, home ownership and entrepreneurship (owning a business).
Organizations who employ the Hispanic/Latino Millennial must also consider whether they are foreign born or U.S. born.
Foreign born Latino Gen Yer’s tend to want to “fit in” and U.S. born Hispanic Millennials want to “stand out” (Sensis, 2013). A common theme with both foreign born and U.S. Hispanic Milennials is a belief that they must work hard to earn and achieve results. If organizations understand the difference between the Hispanic Gen Yer and the mainstream Millennial they should be able to better attract, retain and develop them in their workforces.