Hannibal Brumskine III’s education company is geared in 2022 to help black professionals in their transition out of corporate America. Black-Owned Consultancy is an educational tech platform established to teach professionals how to utilize their skill set to start consultancies that match their current corporate salaries. This is in light of the reality that there is an undeniable need for rewarding financial pathways for black professionals that are dissatisfied emotionally or financially in Corporate America. The platform has been successful in catering to the educational needs of existing and aspiring black business owners in the United States and the United Kingdom. Hannibal bagged the Young Diaspora Entrepreneur of the Year award in October for his efforts towards this mission.
Systemic racism has always existed but with more awareness, it is being more reported and protested against; especially in the modern workplace. While the movement became more profound, it highlighted a very important aspect of society. Racial discrimination in the workplace is a looming menace hindering the growth of black people in corporate America. According to a survey carried out by the Society for Human Resource Management, more than a third of Black workers reported being treated unfairly in the workplace because of their race. This means that close to 42% of workers that report facing racial discrimination in the workplace are black.
The most obvious result of this toxic racial culture in the workplace is that more black people are leaving corporate America. Black turnover rate increases with the corporate world consisting of fewer black people. At Google, Black people make up less than 3% of the workforce and the attrition rate is 13% higher than the national average. The numbers are even more discouraging because more black employees are considering leaving their jobs. A study by the Center for Talent Innovation reports that more than one-third of Black employees intend to leave their jobs within two years. Also, Black professionals are 30% more likely to consider leaving than their white colleagues.
Generally, the working conditions of the average black person are hostile and not conducive to growth. The Society for Human Resource Management reveals that 49% of black HR professionals feel that discrimination based on race or ethnicity exists in their workplace. 54% of black HR professionals believe that their workplace is not doing enough to promote racial justice in the world. Similarly, 46% feel that their employers are not doing enough for black employees in the organization. The consequences of racism on black people range from financial to psychological. 33% of black HR professionals don’t feel respected/valued at work.
With these statistics, it is evident that black people are leaving corporate America and need help transitioning in a way that is financially safe.
Their mission to transition dissatisfied black professionals out of Corporate America nationwide is on track. Brumskine III and his team are geared up to continue fulfilling this mission leading into the new year.
