Diversity MBA Magazine - April 2008 - (Page 90) Developing MBAs of Color by Karen Johns The U.S. Census reports that the number of Blacks has grown by 19% and Hispanics by 56% in the past decade. While this may imply an increase in the availability of diverse candidates for the American workforce, in fact, the opposite is true. The US Bureau of Labor Statistics projects that there will be about 500,000 new management positions opening every year. However, there are only about 250,000 new graduates entering the workforce each year. The gap will only continue to grow as baby boomers begin to retire and there will be fewer workers adequately trained to replace them. Corporate America continues to demand more talented business leaders even as it faces a limited pool of candidates. Demographic trends suggest that the issue isn’t really a labor shortage, but a skills gap. Simply, the number of people in the pipeline who are prepared with the right academic and professional experience needed to compete in the 21st century workforce need to be increased. Understanding The Problem So how is it possible to stem the tide and increase the number of minorities achieving an MBA and becoming prepared for management positions in corporate America? To truly understand the challenges involved, it’s important to address the issues in the early stages of the pipeline. The real crisis in the country’s high schools bears significant implications for the MBA pipeline to corporate America. Just take a look at these statistics: According to a study done by the Manhattan Institute, only 51% of all Black students and 52% of all Hispanic students graduate from high school. Yet while that is a startling statistic, even more challenging is that the same study indicates that only 20% of all Black students and 16% of all Hispanic students leave high school academically prepared for enrolling in a four-year college. This tends to explain why, despite the growth in numbers of people of color in the country; they continue to lag behind in significant growth in high school and college attainment. While the numbers of students enrolling in college continues to grow; there remains a major problem regarding college retention and graduation, especially among minorities. While the numbers of students enrolling in college continues to grow; there remains a major problem regarding college retention and graduation, especially among minorities. Nationwide, about 39% of all AfricanAmericans who enter a four-year college go on to earn a diploma at the same institution within six years, according to the U.S. Department of Education. Even if Black students who transfer to other colleges or take more than six years to complete their degree program are included in the figures, the overall graduation rate for Black 90 w w w. d ive r s it y mb a ma g a z in e. c o m http://www.diversitymbamagazine.com
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