Companies that want to stand out in today’s competitive job market and attract top LGBTQ+ talent must demonstrate a visible commitment to LGBTQ+ inclusion. This commitment not only enhances the workplace culture but also significantly boosts employer branding, making the company more appealing to potential employees.
In this article, we look at the Deloitte Global 2023 LGBT+ Inclusion at Work report and discuss the impact that a visible commitment to LGBTQ+ inclusion has on shaping a company’s brand.
The business case for LGBTQ+ inclusion
Beyond ethical considerations, the business case for LGBTQ+ taps into significant benefits for companies. Here’s why fostering an inclusive environment is a strategic imperative:
- Enhanced innovation and creativity: Diverse teams bring a variety of perspectives and experiences, which fuels creativity and innovation. When LGBTQ+ employees feel included, they are more likely to contribute unique ideas that drive business success.
- Improved employee engagement and productivity: Inclusive workplaces boost employee morale and engagement. LGBTQ+ employees who feel supported and valued are more motivated, productive, and likely to go above and beyond in their roles.
- Attraction and retention of top talent: Companies known for their commitment to LGBTQ+ inclusion attract a broader pool of talent. By fostering an inclusive culture, companies can reduce turnover rates and retain top performers.
- Positive brand reputation: Public commitment to LGBTQ+ inclusion enhances a company’s reputation. Consumers and clients are increasingly supportive of businesses that champion diversity, leading to stronger brand loyalty and customer trust.
- Market expansion: Inclusive companies are better positioned to understand and cater to diverse markets. By embracing LGBTQ+ inclusion, businesses can tap into new customer bases and create products and services that resonate with a broader audience.
Internal commitment: building an inclusive culture
LGBTQ+ inclusion in business is crucial for creating an environment where all employees feel valued and respected. When companies actively support LGBTQ+ employees, they foster a sense of belonging and community. This is not just about being socially responsible; it is about recognizing and leveraging the diverse perspectives and talents that LGBTQ+ individuals bring to the table.
Internal commitment to LGBTQ+ inclusion starts with creating policies and practices that support LGBTQ+ employees. According to the Deloitte report, 34% of LGBTQ+ employees are considering switching employers to find a more inclusive environment. Companies can address this by implementing the following:
- Inclusive policies: Develop and enforce anti-discrimination policies that explicitly protect LGBTQ+ employees. Ensure that benefits, such as health insurance and parental leave, are inclusive of LGBTQ+ needs.
- Employee Resource Groups (ERGs): Support the formation of ERGs for LGBTQ+ employees. These groups provide a safe space for networking and advocacy and can drive company-wide initiatives to promote inclusion.
- Training and education: Conduct regular training sessions on LGBTQ+ issues for all employees. This helps in building awareness and reducing unconscious biases.
- Visible leadership support: Leaders and managers should visibly support LGBTQ+ inclusion by participating in events and openly discussing the importance of diversity.
These internal actions not only create a supportive environment for current employees but also signal to potential hires that the company values diversity.
Our Pride at Work report explores in more depth what companies should do to attract, develop, and retain LGBTQ+ talent more successfully.
External commitment: enhancing public perception
Externally, companies can enhance their employer brand by publicly demonstrating their commitment to LGBTQ+ inclusion. The Deloitte report highlights that younger generations, particularly Gen Z and Millennials, prioritize DEI when choosing employers. Here’s how companies can appeal to these demographics:
- Public statements and campaigns: Make public commitments to LGBTQ+ inclusion through statements, social media campaigns, and participation in events such as Pride marches. This visibility can attract candidates who value inclusivity.
- Partnerships with LGBTQ+ organizations: Collaborate with LGBTQ+ advocacy groups and support their initiatives. This demonstrates a genuine commitment to the cause and can enhance the company’s reputation.
- Inclusive branding: Ensure that the company’s branding and marketing reflect its commitment to diversity and the makeup of its clients. This can include featuring LGBTQ+ employees in advertisements and using inclusive language in all communications.
- Transparency in reporting: Regularly publish reports on DEI efforts, including specific metrics on LGBTQ+ inclusion. Transparency not only demonstrates the company’s commitment to supporting their LGBTQ+ talent, but it also builds trust with potential employees who are evaluating the company’s culture.
A visible commitment to LGBTQ+ inclusion is a powerful strategy for enhancing employer branding. By fostering an inclusive internal culture and demonstrating this commitment externally, companies can attract top talent, particularly from younger generations who prioritize diversity. Companies that lead in this area will not only build stronger, more innovative teams but also position themselves as employers of choice in the competitive job market.
