Study reveals the status of LGBT people in the workplace

Yesterday, The Economist Intelligence Unit (EIU) unveiled a snapshot of its latest research around the status of LGBT people in the business world. The report, entitled Pride and Prejudice: Agents of change, is being released in conjunction with The Economist Events’ second annual Pride & Prejudice Summit, a global 24-hour event being held on March 23rd in, London, Hong Kong and New York. Participants will include key speakers from companies including IBM, TD Bank, Warby Parker, Goldman Sachs, Anheuser Busch, Prezi, and other high-profile government officials.

The Agents of change report, aligned to many of the topics being debated at the summit, was based on a global survey of more than 1,000 executives. Among its findings:

• When asked to identify which employee cohort is most likely to guide company thinking on LGBT diversity and inclusion, respondents chose young employees and the C-suite as the top two groups, with 27 percent and 24 percent, respectively
• Yet, only 16 percent chose the C-suite as the group most likely to support LGBT workplace diversity and inclusion, ranking this group a distant fourth place
• 40 percent of junior staff said they don’t know who guides company thinking on LGBT diversity and inclusion, while only 16 percent of C-suite respondents said they don’t know
• 33 percent of C-suite members—versus only 13 percent of junior workers—said broader company leadership is most eager to support LGBT workplace diversity and inclusion
• 37 percent of millennials believe there is a potential ROI/business opportunity in enacting LGBT-friendly workplace policies and practices—eight points higher than average

“The results indicate that there is a gap between the views of company leaders and the messages reaching lower-level workers—one that even the most inclusion-minded bosses may struggle to bridge,” says Michael Gold, editor and author of the EIU report. “Young workers are particularly keen on diversity and inclusion and want their companies to be too, from the top leadership on down.”

The Economist Intelligence Unit’s analysis of the survey findings has led to the creation of a suggested framework for achieving positive change for LGBT employees through three workplace groups: C-suite leaders, young people and women.

“We look forward to releasing the complete report around these findings on March 23 during the Pride & Prejudice event,” says Mr. Gold.

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Read the March 2017 issue of Business Review USA & Canada magazine