When a company strategically invests in employees, they attract and keep all the best candidates, and also build a strong work culture unafraid of innovation and change.

More than ever, companies are under scrutiny for their lack of diversity in the workplace. Furthermore, their lack of diversity with black women in the c-suite is much smaller. To make a change in organizations and be inclusive, black women need representation where it truly matters.

Black women are typically overlooked for promotions or positions of power and employers are responsible for changing this. With current events, companies can feel that it is not possible to invest in their employees’ growth. However, now is the best time. Here are 4 reasons why employers should invest in their black employees today:

Attract & Retain Talent

According to the Center for Talent Innovation, companies aren’t retaining black professionals or promoting them to executive positions which are causing them to leave. Spending money to diversify a company does not work unless you are investing in black employees’ development. Coaching programs are a part of professional development which increases employee engagement and reduces turnover related costs.

Investment breeds loyalty. Developing black women right now increases the chances of diversity in the company. It is more likely that the employer will see an increase in diverse applicants and diversity in higher positions.

Improve Corporate Culture

You invest in them, and they invest in you.

Investing in a coaching program for a black executive will break down the barriers that we face when seeking a promotion. Furthermore, investing in a program that includes mentoring and coaching can boost employee morale and transform your company into a more inclusive workplace. Leadership development programs also reinforce a company’s vision, mission, and values by setting an example and providing equal opportunity.

Boosts Employer Reputation

Investing in continual development for black women will boost an employer’s reputation. It will show that you are interested in promoting black women and not keeping c-suite executives primarily white. Reputation shows that you stand with the community and are inclusive. Do good for employees, and it draws good back to your company. Additionally, offering incentives for attending training or coaching programs cultivates an environment for continual improvement and shows that you are invested in a change in the long run.

Allows Upward Mobility for Promotable Employees

No one wants to stay in the same position without hope for promotion. Unfortunately, this is the case for black women. According to the Center for Talent Innovation, black people account for roughly 12% of the U.S. population but occupy only 3.2% of the senior leadership roles at large companies in the U.S. Stagnant jobs lead to employee burnout and turnover. Hiring to diversify your staff gets expensive, instead invest invaluable black employees that you already have! Investing in a coaching program allows employers to retain excellent employees and promote from within.