THE CIRCULAR

LGBT-friendly companies have better performances according to research

Research has shown that companies that are concerned with the LGBT+ community, and promote diversity in their work environment lean to have a better performance financially.

The Aalto University School of Business in Finland conducted a research where they analysed American companies that have LGBT-friendly policies and found out that those policies would bring value to corporations.

Photo by Ylanite Koppens from Pexels

Ireland has shown concern in relation to the issue. The country is not only considering caring about this community but also how this community are been treated within the company.

Considering the social environment, in 2015 the country was the first one in the world to legalize same-sex marriage and if you have a quick walk around the streets in the capital, Dublin, you will be surrounded by LGBT+ flags showing that the population supports the cause.

In relation to the corporate environment, the Minister of Justice and Equality set out the National LGBTI+ Inclusion Strategy which are some actions that are being taken now and create equality to this community in various sectors. The mission of this project is “to promote inclusion, protect rights and to improve quality of life and wellbeing for LGBTI+ people enabling them to participate fully in Ireland’s social, economic, cultural, and political life.”

The Open for Business, a coalition of leading global companies dedicated to LGBT+ inclusion, made a document called Woking Globally: Why LGBT+ inclusion is key to competitiveness, where they show why LGBT+ inclusion in companies is so important. The document is kind of a guide for firms presenting where they can be effective and how they can be supportive of this community.

Another result from the research that is relevant is that more than 90% of LGBT+ people who have worked on an international assignment did not receive any information about LGBT+ laws, networks, and culture before or after being offered the project.

As we can see, there is still so much to be done. Most of the countries in the world do not have any law to protect LGBT+ people against workplace discrimination. More than 70 countries still criminalize same-sex relationships. And there are uncountable cases of students suffering bullying around the world. So, the time for companies to make changes is now.

Feature photograph by fauxels from Pexels

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