65 Out of 100 FTSE 100 Companies Now Include LGBT+ Inclusion in Their Annual Report

65 out of 100 FTSE 100 companies now include LGBT+ inclusion in their annual report

The 2019 London Pride parade passes through Piccadilly Circus. Photo: Matthew Chattle/Barcroft Medi via Getty Images

A newly constructed analysis states that in the last 5 years the number of FTSE 100 companies which include references to LBGT+ inclusion in their annual reports has increased to 65.

Although 65% of the UK’s top 100 companies mention matters related to the LGBT+ community, there is still a 35% which fail to do so, according to INvolve, a network that “helps companies harness LGBT+ talent”.

This is an important new step, but there is still a long way to go.

At the same time, “17 FTSE companies that changes their logos for pride made no mention of LGBT+ in their annual reports, documents that companies consider crucial for outlining their priorities, mission and achievements".

INvovle also states that “an increasing body of research supports the notion that being more inclusive is a good business decision”.

“Firms with the most developed diversity policies are 54% more likely to financially outperform the industry average compared to the least diverse firms, according to research conducted by INvolve and the Centre for Economics and Business Research”.

“Annual reports are of huge importance for FTSE 100 companies as it is their chance to highlight the key issues and initiatives that they are focusing on,” said Suki Sandhu, founder and CEO of INvolve.

INvolve has also created a membership organisation for global businesses, known as OUTstanding, working directly with LGBT+ leaders which, after seven years of operation, is now supported by Yahoo Finance UK.

In another analysis by INvolve, the annual reports of three large organisations are the ones setting the example for all the rest to follow. Namely pharmaceutical giant GlaxoSmithKline (GSK), banking protagonist Barclays (BCS) and publishing group Pearson (PSON.L) outperformed the other FTSE 100 companies,

“Pearson updated all of its school textbook to be inclusive of the LGBT+ community, while Barclays sponsored and took part in over 25 Pride celebrations across the UK.”

“In 2018, GlaxoSmithKline pledged support for the United Nations’ LGBT+ global business standards, while its internal LGBT+ group was recognised as Employee Network Group of the Year.”

Liz Burton, head of diversity and inclusion at GlaxoSmithKline and proud to be recognised for the companies LGBT+ inclusion, states “At GSK we take pride in championing inclusion and diversity through our culture, our values and the global policies,”

Significant progress has been made and there is more to come. In a survey constructed by YouGov it was found that, in 2019, LGBT+ employees “are paid 16% less than their other straight colleagues, while around 70% of LGBT+ employees in the UK have experienced sexual harassment at work”.