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A Multilingual Approach
Can Extend Your Reach |
Hispanics are one of the fastest growing ethnic groups in the U.S. and, according to census data, they will make up a quarter of the population by 2050.
The size of the growing Hispanic population makes Spanish the most common language that English-speaking employees should take on. Although not all Hispanics speak Spanish, many do, so it makes good business sense to offer employees language courses so you can reach potential customers.
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Here are five ways your company can benefit from a more global linguistic reach:
If you have to offer wage differentials to lure bilingual staff members to your company, or you can’t find as many as you need, language training can help. At the very least, make sure your employees know common Spanish phrases.
Don't just focus on Spanish. As business becomes more global, your company may have other language needs. If you have international clients or operations overseas, that should determine which language courses add the most to your bottom line.
Language fluency among your employees extends your international reach and customer base and makes it easier to maintain contacts. It also expands your pool of potential recruits for overseas assignments.
To help regulate costs, narrow down the amount of training your employees need. For example, a manager who frequently travels abroad and discusses business topics at length needs a good degree of fluency. Others may only need enough skills to get around and make a good impression or complete specific tasks, such as completing contracts.
If you already sponsor courses in English as a second language, follow the same policy for other language courses. This includes the amount your company pays for the classes and the time you allow employees to attend, either during or after work hours. You can also arrange to have in-company courses and add languages to any business-related university courses your company subsidizes. |
The bottom line: Proficiency in a foreign language can help you win customers and expand your business.
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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