February 11, 2015 -- First ever global LGBT (lesbian, gay, bisexual, trans) workplace research measures value for businesses of creating an inclusive and supportive environment for LGBT employees.
New data by the world’s leading LGBT research and marketing consultancy, Out Now has, for the first time, put a dollar value on the savings businesses can expect to make through having well implemented Diversity and Inclusion policies for LGBT people.
The new data is taken from the world’s largest LGBT research project, LGBT2020 and for the first time measures the savings in dollar terms for companies who foster an inclusive working environment where LGBT employees are comfortable to be themselves at work.
The findings are contained in a new report featuring new workplace research data from ten countries across the world.
The report, entitled ‘LGBT Diversity: Show Me The Business Case’, reveals for the first time a comparative data-set from multiple countries, with analysis which shows that investment in effectively implementing D&I workplace policies has a dramatic and strongly positive effect on the bottom line, thanks to greatly increased staff retention and greater reported worker productivity.
The report is being distributed for free thanks to the generosity of sponsors such as AXA, IBM and Société Générale, and complimentary copies can be be downloaded now at OutNow.LGBT.
The data shows for the first time, that in multiple countries around the world, LGBT staff who are able to be openly LGBT with all their work colleagues are significantly more likely to remain in their current employment than staff who are ‘not out to anyone’ at work.
As well as calculating the savings that companies can expect to make through enhanced staff retention, the new research also measures improvements to productivity and team work that organisations can expect to make by having LGBT staff who are more comfortable to be out at work.
Even for smaller UK companies the savings can be significant, with organisations of 10,000 employees being able to save between $66k - $494k simply by better implementation of employment policies for LGBT workers to enable them to feel comfortable to be out at work.
Larger companies in the UK, with 250,000 employees can save between $1.7million - $12.4million, with total national savings measured at $1.02billion.
In the USA savings are greater, with organisations of 10,000 employees being able to save between $127k - $944k, and larger companies with 250,000 employees saving between $3.2million - $23.6million. Total national US savings are measured at $8.93billion.
“This report for the first time enables companies to see exactly why investing in a more equitable and supportive workplace for everyone is a sound business investment that demonstrates solid returns,” said Ian Johnson, CEO of Out Now. “As well as boosting staff retention, which delivers significant and demonstrable savings for business, providing a workplace environment where LGBT people are supported to be themselves also has a significant and powerful positive effect on motivating LGBT individuals, by making them feel a valuable part of a team, and boosting productivity. LGBT workplace diversity is no longer just desirable window-dressing for companies looking to attract the best talent - it is an essential part of core business that can help to build a competitive advantage for smart businesses.”
This was reinforced by AXA - who are Premier Sponsors for the release of the new LGBT2020 report.
Mark Pearson, CEO of AXA US said: “At AXA, our efforts to foster an inclusive workplace, one where all employees feel engaged, valued, and free to be their whole selves at all times, reflects who we are at the core. Our support for the LGBT2020 study will help further our goal of attracting and welcoming the very best people to the AXA family. By nurturing a fully inclusive environment where each and every person feels inspired to share their individual perspective, we all reap a collective benefit, while enabling all our people to bring the best of who they are to AXA every day.”
Marijn Pijnenburg, IBM Business Development Executive said his company was pleased to support the report’s release. “IBM has always understood the power of information to change people’s lives,” Pijnenburg said. “HR analytics enable organizations to use their wealth of employee data to make better decisions about their workforces, improve operational performance, and increase employee engagement. We are pleased to support this innovative LGBT2020 analysis about the lived experiences behind LGBT people's experiences at work. And believe it will help to create more inclusive working environments. For over 30 years, we’ve been proud supporters of the LGBT community.”
The ‘LGBT Diversity: Show Me The Business Case’ report includes data from ten countries: USA, Canada, Mexico, Brazil, UK, France, Germany, Italy, India and Australia.
The report enjoys strong support with welcome messages from Lord Browne, former CEO of BP; Barry Sheerman, Member of UK Parliament; and has a broad range of sponsors, including: AXA, Societe Generale, .LGBT, Aviva, NHS, Circle Housing, IBM, Tedstrom Associates, LOTL, Curve, DIVA, GT, Millivres, Gay Ad Network, Yagg, Enehache, Gay.IT, The Winters Group, Inc., World Travel Market, QNews, Special Media SDL, Star Observer and visitBerlin.
Established in 1992, Out Now is the world's leading LGBT business consulting organization and has for two decades been relied upon by many of the world's leading brands, NGOs, government authorities and tourism bodies for specialized LGBT business insight and expertise. Services include research, training, strategy and communications.
Out Now clients include IBM, Toyota, Citibank, German National Tourist Office, TUI, Lufthansa, Berlin Tourism Marketing, Vienna Tourist Board, Visit Manchester, Stockholm Visitors Board, Barclaycard, Citibank and Lloyds TSB Banking Group.
Out Now’s CEO Ian Johnson says that one principle guides his firm’s evolution – which is “that ‘LGBT’ spells people. Every LGBT person is someone’s son, daughter, uncle, aunt, sister, brother, parent, friend, colleague and more. LGBT is an acronym but we all must remember that at its heart are people."
©2015 Out Now. All rights reserved. Out Now® is a registered trademark of Out Now, a company registered in the Netherlands. "Out Now", "OutNow" and all related words, marks and logos are trademarks of Out Now, Netherlands.
- US economy could save $9billion annually by better implementing Diversity and Inclusion policies for their LGBT staff.
- UK economy could save over $1billion annually by better implementing Diversity and Inclusion policies for their LGBT staff.
| Report free download: OutNow.LGBT |
New data by the world’s leading LGBT research and marketing consultancy, Out Now has, for the first time, put a dollar value on the savings businesses can expect to make through having well implemented Diversity and Inclusion policies for LGBT people.
The new data is taken from the world’s largest LGBT research project, LGBT2020 and for the first time measures the savings in dollar terms for companies who foster an inclusive working environment where LGBT employees are comfortable to be themselves at work.
The findings are contained in a new report featuring new workplace research data from ten countries across the world.
The report, entitled ‘LGBT Diversity: Show Me The Business Case’, reveals for the first time a comparative data-set from multiple countries, with analysis which shows that investment in effectively implementing D&I workplace policies has a dramatic and strongly positive effect on the bottom line, thanks to greatly increased staff retention and greater reported worker productivity.
The report is being distributed for free thanks to the generosity of sponsors such as AXA, IBM and Société Générale, and complimentary copies can be be downloaded now at OutNow.LGBT.
| Data source: Out Now Global LGBT2020 OutNow.LGBT |
The data shows for the first time, that in multiple countries around the world, LGBT staff who are able to be openly LGBT with all their work colleagues are significantly more likely to remain in their current employment than staff who are ‘not out to anyone’ at work.
As well as calculating the savings that companies can expect to make through enhanced staff retention, the new research also measures improvements to productivity and team work that organisations can expect to make by having LGBT staff who are more comfortable to be out at work.
Even for smaller UK companies the savings can be significant, with organisations of 10,000 employees being able to save between $66k - $494k simply by better implementation of employment policies for LGBT workers to enable them to feel comfortable to be out at work.
Larger companies in the UK, with 250,000 employees can save between $1.7million - $12.4million, with total national savings measured at $1.02billion.
| Data source: Out Now Global LGBT2020 OutNow.LGBT |
In the USA savings are greater, with organisations of 10,000 employees being able to save between $127k - $944k, and larger companies with 250,000 employees saving between $3.2million - $23.6million. Total national US savings are measured at $8.93billion.
“This report for the first time enables companies to see exactly why investing in a more equitable and supportive workplace for everyone is a sound business investment that demonstrates solid returns,” said Ian Johnson, CEO of Out Now. “As well as boosting staff retention, which delivers significant and demonstrable savings for business, providing a workplace environment where LGBT people are supported to be themselves also has a significant and powerful positive effect on motivating LGBT individuals, by making them feel a valuable part of a team, and boosting productivity. LGBT workplace diversity is no longer just desirable window-dressing for companies looking to attract the best talent - it is an essential part of core business that can help to build a competitive advantage for smart businesses.”
This was reinforced by AXA - who are Premier Sponsors for the release of the new LGBT2020 report.
| Data source: Out Now Global LGBT2020 OutNow.LGBT |
Mark Pearson, CEO of AXA US said: “At AXA, our efforts to foster an inclusive workplace, one where all employees feel engaged, valued, and free to be their whole selves at all times, reflects who we are at the core. Our support for the LGBT2020 study will help further our goal of attracting and welcoming the very best people to the AXA family. By nurturing a fully inclusive environment where each and every person feels inspired to share their individual perspective, we all reap a collective benefit, while enabling all our people to bring the best of who they are to AXA every day.”
| Data source: Out Now Global LGBT2020 OutNow.LGBT |
Marijn Pijnenburg, IBM Business Development Executive said his company was pleased to support the report’s release. “IBM has always understood the power of information to change people’s lives,” Pijnenburg said. “HR analytics enable organizations to use their wealth of employee data to make better decisions about their workforces, improve operational performance, and increase employee engagement. We are pleased to support this innovative LGBT2020 analysis about the lived experiences behind LGBT people's experiences at work. And believe it will help to create more inclusive working environments. For over 30 years, we’ve been proud supporters of the LGBT community.”
The ‘LGBT Diversity: Show Me The Business Case’ report includes data from ten countries: USA, Canada, Mexico, Brazil, UK, France, Germany, Italy, India and Australia.
The report enjoys strong support with welcome messages from Lord Browne, former CEO of BP; Barry Sheerman, Member of UK Parliament; and has a broad range of sponsors, including: AXA, Societe Generale, .LGBT, Aviva, NHS, Circle Housing, IBM, Tedstrom Associates, LOTL, Curve, DIVA, GT, Millivres, Gay Ad Network, Yagg, Enehache, Gay.IT, The Winters Group, Inc., World Travel Market, QNews, Special Media SDL, Star Observer and visitBerlin.
Established in 1992, Out Now is the world's leading LGBT business consulting organization and has for two decades been relied upon by many of the world's leading brands, NGOs, government authorities and tourism bodies for specialized LGBT business insight and expertise. Services include research, training, strategy and communications.
Out Now clients include IBM, Toyota, Citibank, German National Tourist Office, TUI, Lufthansa, Berlin Tourism Marketing, Vienna Tourist Board, Visit Manchester, Stockholm Visitors Board, Barclaycard, Citibank and Lloyds TSB Banking Group.
Out Now’s CEO Ian Johnson says that one principle guides his firm’s evolution – which is “that ‘LGBT’ spells people. Every LGBT person is someone’s son, daughter, uncle, aunt, sister, brother, parent, friend, colleague and more. LGBT is an acronym but we all must remember that at its heart are people."
©2015 Out Now. All rights reserved. Out Now® is a registered trademark of Out Now, a company registered in the Netherlands. "Out Now", "OutNow" and all related words, marks and logos are trademarks of Out Now, Netherlands.
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