Why hiring bilingual talent is not enough

Across the credit union industry, many organizations have taken an important step toward better serving diverse communities: proactively hiring bicultural and bilingual staff. As Latino populations continue to grow in influence and numbers across the United States, credit unions increasingly recognize the importance of culturally responsive service and language access.

Proactively hiring bicultural and bilingual employees is an important step forward. But hiring alone is not enough. Without a thoughtful focus on retention, support and career development, organizations risk losing the very talent that helps them connect with these communities. While this challenge is visible within the credit union movement, it also reflects a broader pattern across financial services and corporate America.

Through organizational focus groups and employee listening sessions I facilitate, a consistent pattern emerges. Consumer-facing bicultural and bilingual employees are often informally relied upon to shape and execute outreach and strategy for the Latino community, while also serving as the primary resource for Spanish-language member interactions. These employees are typically proud to support their communities and committed to doing their jobs well. However, these added responsibilities are not often formalized within job descriptions, performance expectations or compensation structures. In many cases, staff are also expected to deliver in areas such as outreach and content translation without the training, tools, or clarity needed to do so effectively.

Over time, this imbalance can lead to burnout. Employees may feel they are carrying an additional workload that is not clearly defined, acknowledged, or supported organizationally. When that happens, organizations often lose the very employees who were helping them build trust in the community. The impact often goes beyond the loss of an employee. In many cases, bicultural and bilingual staff have built strong relationships with members, community organizations, and local partners who rely on them as a trusted point of contact. When those employees leave, those relationships can weaken or disappear entirely. Members who felt understood and supported may disengage and community partners may lose a key connection inside the institution. In this way, the cost of turnover can extend beyond staffing challenges and begin to affect community trust, member loyalty and the organization’s broader reputation in the market.

Another reality that emerges from conversations with employees is the lack of representation at higher levels of leadership. Many bicultural and bilingual employees notice that while frontline roles may become more diverse, the same progress is not always visible in senior leadership, management teams or boardrooms. This perception can influence whether employees see a long-term future within the organization. Data reflects this broader challenge. Latinos represent roughly 19 percent of the U.S. population, yet remain significantly underrepresented in financial services leadership. Across the finance and insurance workforce, Latinos account for only about 11 percent of employees, far below their share of the population.

Representation decreases even further at senior levels, where Latinos hold roughly 3 to 4 percent of executive roles in finance. The gap is even more pronounced at the highest levels of corporate leadership. Only about 6 percent of U.S. CEOs are Latino, despite the size and economic influence of the community. And among women, the disparity is even greater: Latinas represent only about 1 percent of C-suite executives in corporate America.

These statistics illustrate that while organizations are making progress on hiring diverse talent, there is still significant work to be done to build leadership pipelines that reflect the communities being served.

Retention is built, not hoped for. It requires intentional structures that support bicultural and bilingual employees and recognize the value they bring.

Organizations can start by asking several key questions:

When organizations address these questions proactively, bicultural and bilingual employees are more likely to feel supported and see a future within the organization.

Credit unions and organizations across many industries are operating in an increasingly diverse and competitive marketplace. For financial institutions in particular, the Latino market represents one of the most significant growth opportunities of the coming decade. Proactively hiring bicultural and bilingual talent is an important step, but hiring alone is not a strategy. Retention, intentional development and clear leadership pathways are what ultimately determine whether that talent stays, advances and contributes at its full potential. Organizations that take a long-term, strategic approach will not only retain talent, they will build internal capabilities, deepen trust with communities they aim to serve and position themselves to convert this opportunity into sustained growth and long-term competitive advantage.