Special analysis reveals highly influential, outspoken, and concerned Hispanic employees and consumers in the U.S.
In conjunction with the start of Hispanic Heritage Month, a new Edelman Trust Barometer special analysis of the Hispanic community reveals that while the U.S. Latinx community is optimistic about their economic future and is more trusting of institutions, they are also deeply concerned about the realities of the past year. They were severely impacted by Covid redundancies, which saw unemployment reach 15 percent among Latinx, the highest of any group, and yet, they remain optimistic about American institutions. This is particularly true for government, as they are the only group to trust government more than business. More than any other audience segment, they expect action from the brands they buy and the employers they work for and are ready to take action themselves if things don’t change.
“While this research reveals a giant jump in Latinx trust in institutions, the largest in government, there’s a big warning signal,” says Richard Edelman, CEO of Edelman. “There’s high volatility in Latinx trust in employers — they are belief-driven buyers as well as belief-driven employees and employers are not meeting expectations. This further emphasizes the need for corporations to activate the new employer-employee compact to secure commitment, loyalty and advocacy, all of which achieve high gains from Latinx employees.”
Among the top findings from Edelman’s analysis include:
- Since January 2020, the Latinx community has been disproportionately affected by economic downturns, yet they are also more likely to be optimistic about their future — More than any other ethnic community, Latinx (56 percent) were optimistic about their and their families’ economic prospects over the next five years.
- They are voting with their wallets more than any other audience segment — 54 percent of Latinx agree that they can have a bigger influence on societal issues through which brands they buy than which politicians they support. For 73 percent of Latinx, having trust in the brands they buy is more important than in years past.
- The stakes are even higher for employers — Latinx employees are closely watching how their company and leaders are addressing these key societal issues, as 60 percent say they would choose, leave, consider, or avoid employers based on their values and beliefs. Edelman’s analysis reveals a 13-point decline in employer Trust for Latinx employees, and 61 percent agree that their CEO is not speaking out in public enough about political issues.
- They will take action — 74 percent of Latinx say they will act to drive change within their employer organization, with 43 percent willing to go public.
- They are concerned about job security — Despite optimism for their economic prospects, 55 percent of Latinx employees are concerned about losing their job their job as a result of a looming recession.
"The Hispanic consumer is gravely undervalued and yet, the data suggests they are THE ignition to drive business, brand loyalty, employee engagement and influence... Brands who choose to ignore the Latinx consumer, risk business growth,” says Ana Ceppi, Senior Advisor to Edelman.
This data for the Hispanic Market was isolated and analyzed from Edelman's last five Trust Barometer reports: 2021 Trust Barometer, 2021 Spring Update: A World in Trauma, Special Report: Business and Racial Justice in America, Special Report: Trust: The New Brand Equity, and Special Report: The Belief-Driven Employee.