Having LGBT-friendly policies in a company is not only the right thing to do. It’s also good for business.
That’s the conclusion from a report issued this week by the US Chamber of Commerce Foundation. The report found that LGBT-inclusive companies attract better talent and decrease employee turnover. It also found that those publicly held companies with LGBT-friendly policies have seen their stock prices increase by an average 6.5% compared with their industry peers. Data cited in the report shows that more than 4% of the US population – or about 10 million adults – identified as LGBT in 2016.
- Approximately 40% of LGBT employees said they have been bullied at work because of their sexual orientation
- 41% have left their jobs for related reasons.
- Although, according to the Chamber, 91% of Fortune 500 companies include sexual orientation in their discrimination policies, this is not a “big business” thing. It’s a competitive advantage. 72% of full-time employees said they would leave an organization for one they thought was more inclusive.
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