Businesses with LGBT managers perform better than those without, survey finds
Companies with LGBT+ people in managerial positions have better business outcomes than those which do not, research suggests.
A survey, carried out by Marquette University for the Wisconsin LGBT Chamber of Commerce, found that of 88 companies polled, those with LGBT+ people in senior leadership positions reported higher overall performances.
The “favourable outcomes” included “organisational performance, social and environmental corporate social responsibility, workforce quality and utilisation, as well as high performance human resource management practices.”
Jason Rae, president and CEO of the Wisconsin LGBT Chamber of Commerce, said in a statement: “This study supports what we have been saying for years — having LGBT people in leadership positions, whether it as a CEO, a business owner, a part of senior management or on the Board of Directors, is good for a business’s bottom line.
“Simply put, diversity is good for business.”
The report looked at whether or not businesses had LGBT+ people in senior management roles and what impact that had on business outcomes.
The research found that, of the companies who participated, 61 percent of companies had one or more LGBT+ people in a top leadership position.
Comparatively, 48 percent had one or more people of colour in a leadership role and 86 percent had one or more women in a top leadership role.
Research published earlier this year found gay employees were less likely to be promoted to high-level managerial positions.
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The study, published by the IZA Institute of Labour Economics in Germany, found gay employees are less likely to be promoted to higher-level management jobs than their heterosexual counterparts, despite having the similar work experience and education.
The study, which uses data from the 2009 to 2014 UK Integrated Household Surveys, found the trend appears to be driven by discrimination, rather than different skills or characteristics.
Meanwhile 42 percent of non-white people hide their identity, a figure that rises to half among trans people in the workplace.
One in five (18 percent) say they have been a victim of abuse from colleagues due to their sexuality or trans identity.