Minority is the Priority Data recently reviewed from the Survey of Business Owners in 2012 shows that women-owned firms are growing faster than male-owned, and the majority of these women are minorities. According to Fortune, Hispanic and black women are paving the way. According to the data, since 2007, the number of Hispanic women-owned companies has increased by 87.5 percent, while the number of black women-owned businesses increased by 67.5 percent. For the first time, black women own more businesses than their black male counterparts – making up about 60 percent of black-owned businesses. The majority of these are in Georgia, Maryland and Illinois, though growth has been nationwide. Minority women are now the fastest growing group of …show more content…
Look around at your competitors –what are they paying their workers? Can you one-up them to attract top talent? This applies to everyone, especially women and minorities that are capable of successfully driving their own businesses. In a study done for Women Don’t Ask by Linda Babcock, it was found that only about 7 percent of women will negotiate salary when offered a job. To attract women to your company, drop the low-balling and openly offer them a competitive wage. Next, look at your benefit packages. This is especially important when looking to attract women, because they are traditionally the family caretakers. While this role is changing in households across America, it is still important to consider. Women want paid time off for maternity leave, and enough PTO days to care for sick children, parents or (shockingly!) themselves. Many companies have recently revised their maternity leave and sick time to stay competitive, allowing workers more paid time off, including Microsoft, Netflix and Adobe. While this might seem counter-productive, companies with these policies in place have actually noted a lower rate of employees taking time off, and higher