A new study conducted by Marquette University and commissioned by the Wisconsin LGBTQ Chamber shows that organizations and businesses with one or more LGBT people in senior leadership positions report higher overall firm performance than organizations with no LGBTQ leadership.
“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,” wrote Jason Rae, President & CEO of the LGBT Chamber.
The report, “Examining the Impact of LGBT Senior Leadership Representation on Business Outcomes,” looked at whether or not businesses had LGBTQ people in senior management roles and what impact that had on business outcomes. The research found that, of the companies who participated, 61% of companies had one or more LGBT persons in a top leadership position. By comparison, 48% had one or more people of color in a leadership role and 86% had one or more women in a top leadership role.
The study further examined the impact of that LGBT senior leadership representation on a variety of business outcomes. In addition to higher overall firm performance, the study found other areas in which having LGBTQ people in leadership reported significant positive differences over those businesses without LGBT people, including Social and Environmental Corporate Social Responsibility, High Performance HR Practices, and Quality of the Workforce.
Overall, according to the survey, organizations with one or more LGBTQ people in senior leadership positions perform better than other organizations.
“This study helps reinforce our commitment to helping ‘break the rainbow ceiling’ and getting more LGBT people in senior leadership roles,” Rae went on to say. “When LGBT people are present in leadership roles, businesses do better.”