04 Nov Holding on to Your Talent

The pandemic has prompted many professional Black women to consider trying their hand at entrepreneurship, but companies have the power to keep their top talent from jumping ship.

Although 56 percent of Black women who left Corporate America to start a business did so because they realized they could turn a hobby into a profitable business, others sought out entrepreneurship because they were unhappy with their job, according to a LinkedIn survey of 1,001 Black entrepreneurs between January 21 and February 1, 2022:

• 56 percent of Black female entrepreneurs wanted more flexibility and control over their schedules

• 35 percent of Black female entrepreneurs wanted additional income and to create generational wealth

• 20 percent of Black entrepreneurs believed their former job wasn’t invested in their growth and development

When asked what their employer could have done to keep them:

• 50 percent of Black entrepreneurs said offer a higher salary or bonus

• 40 percent of Black entrepreneurs said provide more transparency in career-impacting decisions such as promotions and pay raises

• 37 percent of Black female entrepreneurs said offer more time off and flexibility

• 32 percent of Black entrepreneurs said provide more competitive benefits

• 29 percent of Black entrepreneurs said offer more professional development opportunities

Forty-five percent of Black entrepreneurs with full-time jobs feel supported by their workplace, and nearly 50 percent said remote work makes it easier for them to perform their work duties and run a business on the side. DW