Out to Succeed: Realizing the full potential of your LGBT+ talent, is the first comprehensive, international study of high-performing, high-potential LGBT+ emerging business leaders. Presented by Out Leadership and PwC. The report was launched at Our Leadership’s LGBT+ Senior Summit, sponsored by Ropes & Gray.
The 231 LGBT+ employees who participated in the “Out to Succeed” survey were identified as high performers or as individuals with leadership potential by their employers. The 28 participants in our employer sample are drawn from Out Leadership member companies.
Key findings of “Out to Succeed” include:
- More than 60% of respondents say that being out at work has improved their ability to do business and engage with customers
- 83% of employee respondents say having an openly supportive focus on LGBT+ has improved their employers’ place in the market
- 35% believe their company leverages LGBT+ inclusion for business advantage
- Strong gaps between employer intention and employee perception – 60% of employers have LGBT+ focused recruiting, but just 35% of employee respondents are aware of it
- 88% say that visible LGBT+ senior leaders make an organization an attractive employer
- 28% of employee respondents have an LGBT+ mentor; 52% have a non-LGBT+ mentor
“For too many LGBT+ employees, many organizations still feel closeted,” said Bob Moritz, Global Chairman, PwC. “This hinders not only the organizations in recruiting and retention, but, more importantly, this hinders the careers of LGBT+ professionals. All of us need to create inclusive environments where LGBT+ talent can feel safe, free to be their true selves, and fully participate in the workplace. A good leader must represent the greater good and inspire others to do the same. Being an active advocate and ally for LGBT+ equality and inclusion is a clear case in point. Leaders can’t hide or ignore these issues – this is where we must act, where we must be loud in our support for LGBT+ colleagues.”
“Valuing difference is a cornerstone for success in business – it helps us create an environment where all employees are treated equally and have an opportunity to be successful,” said Joe McGrath, Global Head of Banking, Barclays. “Out Leadership brings together senior business leaders to learn about the issues facing the LGBT+ community and take action. In today’s climate, its mission is more important than ever.”
“‘Out to Succeed’ demonstrates that the investment global business has made in the development of the next generation of LGBT+ talent is already paying off, and that further investment is warranted,” said Todd Sears, Founder and Principal, Out Leadership. “60% of respondents say that being openly LGBT+ has been an asset in their field, representing an enormous sea change from “The Power of Out 2.0,” the study we released with the Center for Talent Innovation just 5 years ago. At that time, we reported that just 9% of LGBT+ women and 17%+ of LGBT+ men thought their orientation was an asset. The game has changed, but many companies are still missing out on significant opportunities to drive business through inclusion.”
View the full report here.