A new study by the Wisconsin LGBT Chamber of Commerce suggests that businesses with an LGBT person in a top management position do better than those that don’t according to New Now Next.
Dr. Jennica Webster helped design and facilitate the survey in which she polled 88 Wisconsin companies in the Chamber of Commerce. The results showed that LGBT people in leadership positions actually did better in “organizational performance, social and environmental corporate social responsibility, workforce quality, and utilization, as well as high-performance human resource management practices.”
LGBT people in top management roles are better in many areas.
“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, chamber president and CEO and one of the report’s authors. “Simply put, diversity is good for business.”
Added Rae, “Overall, organizations with one or more LGBT people in senior leadership positions perform better than other organizations. 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.”
In conclusion, the report found “LGBT people hold important senior leadership positions within the sample of Wisconsin LGBT Chamber member organizations that responded to the survey.”
“Another conclusion is that among the organizations in this sample those that report having one or more LGBT people in senior leadership positions also report a variety of favorable outcomes compared to organizations with no LGBT people in senior leadership positions including levels of organizational performance, social and environmental corporate social responsibility, workforce quality and utilization, as well as high performance human resource management practices.
No differences were found between respondents with one or more LGBT people in senior leadership positions and those without LGBT people in senior leadership positions in terms of the number of LGBT supportive workplace policies and practices. We speculate that this non-significant difference with regard to policies may be a function of organizational size. That is, larger organizations typically have more formalized policies and practices overall including those aimed at supporting LGBT workers.”