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Wednesday, 22 August 2018 23:39

Study reveals having LGBT leaders make huge positive impact on a business

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lgbt top leader

 

A study shows that businesses with one or more LGBT people in senior management positions have better outcomes.

Wisconsin LGBT Chamber of Commerce commissioned this study that was led by researchers at Marquette University.

As explained on the Chamber of Commerce's website, the report, “Examining the Impact of LGBT Senior Leadership Representation on Business Outcomes,” looked at whether or not businesses had LGBT people in senior management roles and what impact that had on business outcomes.

88 companies with awesome outcomes participated in this study. The research found that diversity and LGBTQ women rock as:

  • 61% of these companies had one or more LGBT people occupying a top leadership position.

  • 48% of them had one or more people of color in a top leadership role.

  • 86% had one or more women in a top leadership position.

“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 & CEO of the Wisconsin LGBT Chamber of Commerce. “Simply put, diversity is good for business.”

The study also revealed that having LGBT people in leadership positions has a positive impact on the business in other areas like:

  • Social and Environmental Corporate Social Responsibility

  • High-Performance HR Practices

  • Quality of the Workforce

“Overall, organizations with one or more LGBT people in senior leadership positions perform better than other organizations,” added 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.”

A complete copy of the report is available on the Wisconsin LGBT Chamber of Commerce's website if you would like to take a look at it: www.wislgbtchamber.com/ImpactReport

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