Study: Companies with LGBTQ managers report higher overall performance than those without
Wisconsin LGBT Chamber of Commerce found that companies with more than one LGBTQ person in a senior role reported better overall performance
Research has found that businesses with LGBTQ people in senior management and leadership positions perform better than those without.
Marquette University polled 88 companies for the Wisconsin LGBT Chamber of Commerce and found that, of those companies, those with LGBTQ people in senior roles reported improved “organizational performance, social and environmental corporate social responsibility, workforce quality and utilization, as well as high performance human resource management practices.”
“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,” said Jason Rae, president and CEO of the Wisconsin LGBT Chamber of Commerce, in a statement. “Simply put, diversity is good for business.”
Sixty-one percent of the companies polled reported having at least one LGBTQ person in a top leadership role, with one company reporting 11 LGBTQ people in senior roles.
In addition, 96% of the companies in the poll had an equal employment opportunity policy that included sexual orientation, while 87% recognized gender identity.
However, fewer than half (46%) offered trans-inclusive health insurance coverage for at least one type of benefit. A mere 16% have guidelines in place for employees undergoing gender transition.
The results of the survey are likely skewed more towards overall LGBTQ-inclusivity, as the polled companies are all members of the LGBT Chamber of Commerce. As the survey notes, they are “somewhat unique in that they have already demonstrated a commitment to LGBT inclusivity by virtue of their membership in the LGBT Chamber.”
“Overall, organizations with one or more LGBT people in senior leadership positions perform better than other organizations,” said Rae. “This study helps reinforce our commitment to helping ‘break the rainbow ceiling’ and get more LGBT people in senior leadership roles. When LGBT people are present in leadership roles, businesses do better.”
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