New Study: LGBT Supportive Policies Have a Positive Impact on a Company’s Bottom Line and Workplace Environment
For Immediate Distribution
May 28, 2013
LOS ANGELES— LGBT-supportive policies are linked to positive business-related outcomes, according to a new study by Williams Institute researchers, M.V. Lee Badgett, research director and professor of economics at the University of Massachusetts, Amherst; Angeliki Kastanis and Laura E. Durso, public policy research fellows, and Christy Mallory, Reid Rasmussen fellow of law and policy.
“We now have a strong body of evidence that LGBT-supportive policies have a variety of benefits for companies that extend beyond the employees those policies impact directly,” said Badgett. “As our nation’s workplaces become more diverse, businesses that respond to that trend will benefit.”
The new Williams Institute study, entitled “The Business Impact of LGBT-Supportive Workplace Policies,” examines the findings of 33 research studies, and concludes that LGBT-supportive policies are also linked to greater job commitment, improved workplace relationships, increased job satisfaction, and improved health outcomes among LGBT employees. LGBT employees are less likely to face discrimination in such environments and are more comfortable being open about their sexual orientation.
Anders Jacobsen, co-founder of LGBT Capital, said, “We see the advent of this research as a key, and potentially catalytic, step in the efforts to present increasingly robust arguments and statistical underpinnings for the business case for LGBT diversity in employment. We are convinced that this research will carry weight with both corporate and public sector decision makers in the U.S. and abroad.”
“Credit Suisse is proud to partner with the Williams Institute to support this valuable work. Unique in its scope, this study contributes to the important discussion surrounding LGBT supportive policies and the impact on business performance,” said Michelle Gadsden-Williams, Global Head of Diversity & Inclusion at Credit Suisse.