The “Visibility Counts: The LGBTQ+ Board Leadership Opportunity” research report, launched at the Quorum summit, is the first-ever research into LGBTQ+ board diversity.
Published with Ropes & Gray, the research includes the first-ever LGBTQ+ Inclusive Board Diversity Report on the Fortune 500. It also contains tactical policy examples, best practices and seeks to expand the board diversity conversation globally to be LGBTQ+ inclusive.
Key Findings from “Visibility Counts: The LGBTQ+ Board Opportunity” include:
- Only 24 out of 5,690 Director seats in the Fortune 500 are held by openly LGBTQ+ leaders or 0.2%
- 88% of LGBTQ+ senior leaders surveyed said that this lack of representation directly resulted in LGBTQ+ leaders being excluded from board opportunities. The seven main reasons for this lack of representation come down to:
- Lack of inclusion in diversity recruiting efforts,
- Perceived “lack of demand” among major search firms for LGBTQ+ board representation from their corporate clients,
- Perceived “lack of offer” for LGBTQ+ board representation,
- Gaps in data collection and reporting,
- Anti-LGBTQ+ discrimination in policy and practice,
- Self-exclusion, and
- Low turnover and long tenure of board members