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Transcript of LatIN FY'11
Fiscal Year 2011 Plan
We are a group of employees committed to promoting diversity, providing resources for recruiting and retaining the best and brightest talent, increasing community involvement, and supporting business goals related to the Hispanic market.
What is LatIN?
"Driving Best Buy to be THE Consumer Electronics destination for Latinos to work and shop."
Partner with business units in the organization and contribute to Best Buy success in the Latino marketplace and position our company as the #1 choice for Latinos
Create a positive environment that fosters the development of Latinos in the organization and drive awareness of Latino culture to better serve and understand our Latino talent.
Develop strong and long-term partnerships with community organizations to impact the life of Latinos in our communities
Latinos in MN
Projections indicate that the number of Latinos living in Minnesota will grow 98 percent between 2000 and 2015.
Significant population growth in the Hispanic/Latino community is accompanied by notable increases in the buying power and economic impact of this population. In Minnesota, Hispanic/Latino buying power increased 547 percent between 1990 and 2005, the eighth highest growth rate in the nation.
The Latinos population of Minnesota is relatively young. With close to 40 percent of the population falling within the highly sought after market of individuals between the ages of 18-34, the Hispanic/Latino population represents a significant opportunity for many businesses.
Bring Best Buy (corporate and field) to celebrate MID with the Latino Community and invite them to shop at Best BUY
Sponsorship of MID event
Setting up and staffing a booth at the MID event with culturally relevant activities and products
Engaging local Latino consumers with the Best Buy brand
Number of Latino consumers that visit the Best Buy booth.
Store traffic, sales. TBD
To gain insights from Latino youth that will help drive business results in key CE categories.
To Strengthen the future career and professional outlook among Latinas in the Twin Cities
Establish a solid partnership with WolF to create a Latina Gamma team in Minneapolis/Saint Paul.
Leverage on local community partners to help with the formation and support of the Gamma team
Organize networking sessions to invite youth to participate in the program.
Once instituted, the team will have 3 monthly sessions where they will present their business plan to Best Buy leaders.
Latina youth creating innovation projects that Best Buy can leverage in their efforts to capture market share from Latina customers.
Contribute to the professional development of Latina youth and and increase their careers aspiration.
Execution of innovation projects
Survey results form Gamma participants in regards to their professional development.
Collaborative Mentorship Program
Support mentorship programs that focus on developing leadership and professional skills amongst Latina youth
Partner with key local organizations that drive personal and professional development programs focused on teens.
Host a mentorship conference at Best Buy Corporate to match Latina teens with professional mentors (in partnership with HCCM and Girls Scouts of MN)
Bring mentors from different organizations committed to developing and helping Latina teens.
Mentor and mentee matching by end of conference
Increase awareness of cultural differentiators to positively impact Latino employee engagement
Improve Latino employee retention
Equip Latino employees to take the next step in career path
Create resources to increase Latino culture understanding amongst leaders and managers of Latino employees so they can better understand the needs of their Latino talent.
Provide Guided Experiences
Position our leaders in the organization to better tap into their Latino talent based on deeper understanding of their employee’s culture and needs.
LatIN Employee promotions
Improve Latino employee experience and engagement
Increase Latino employee retention
Equip Latino employees to take the next step in career path
Provide Latino employees with resources to help build their professional brand and accomplish their career goals.
Develop a guided support program with small groups to share cultural experiences and challenges.
Provide professional development trainings.
Leadership development sessions
Latino employees better prepared to take the next step in their career.
Increase in Latino employee experience Survey
5 engaged small groups
Recruit Talent: Leverage Latin EBN partnerships to participate in local recruitment events and/or provide recruitment venues.
Drive Retention: Identify opportunities for personal professional leadership development of our Latino talent in these stores.
Education: Offer education to our Latino Customers around our Connected products & services that Best Buy can facilitate.
Latino radio stations, newspaper, community centers
Specific training in multiple departments.
Event night at the store or community center with different demo’s of our products
Gain Spanish speaking employees in our store to help better serve our customers.
Positively impact turnover of our Latino employees. And promote within. Knowledgeable employees.
Gain the trust and build positive relationships with our Latino Customers.
HR Reports Ethnicity by store.
Turnover Reports and employee knowledge, Viewpoint score.
Matrix Scorecards, Customer Index Survey
Initiative & Strategy
To build a partnership between the Latin EBN, Field Leadership & local Best Buy Stores to gain insight and help drive positive business results with our Latino Customers.
Presenter: Anthony Cardozo
Presenter: Leda Schuster
Presenter: Aline Condon