A report called “Business Success and Growth Through LGBT-Inclusive Culture”, was issued this month by the US Chamber of Commerce Foundation, stated that LGBT-inclusive companies do a better job a attracting and retaining talents within the organizations.
“Through in-depth surveys, interviews, and focus groups with 70 of the leading businesses from across the country, we can now see how critical indicators of success, like employee retention and recruitment, are positively impacted by an inclusive corporate culture that extends into the broader community as well.” Carolyn Cawley, president, US Chamber of Commerce Foundation said in a press release.
As it stated in the report, workplaces with LGBT-inclusive practices see less discrimination against LGBT employees, which ultimately increase overall employees’ satisfaction and well-being. By eliminating workplace discrimination and promote openness about one’s sexual orientation and gender identity, it can draw positive impacts to greater job devotion, improved workplace relationships, increased job satisfaction, improved health outcomes and increased productivity among LGBT employees. Not to mention that more than 4% of the US population (approximately 10 million adults) are identified as LGBT in 2016.
What are companies doing to create a LGBT inclusive & friendly environment?
Most of those that participated in the study, including large corporations like IBM and AT&T, said they have taken the following actions:
Setup formal non-discrimination policies in place
Educate employees on LGBT awareness, and offer expanded family leave to include LGBT-employees’ family members
Deliver same-sex health and retirement benefits coverage and even reimbursement for fertility treatment.
Provide financial contribution and cultivate partnerships with community and external organizations.
Require contractors to comply with their LGBT non-discrimination policies.
Despite commitments from many companies to promote a healthy LGBT workplace, the issue still remains in offices outside of United States.
According to the report, approximately 40% of LGBT employees said they have been bullied at work due of their sexual orientation, another 41% have left their jobs for related reasons.
Many employees who worked in different parts of the world still feel uncomfortable disclosing their sexual orientation, especially at work. One of the potential reasons could be the lack of federal regulations in place to protect them against.
Source: Business Success and Growth Through LGBT— Inclusive Culture