LGBT Great launches the results of #AimingForGreat industry study

LGBT Great launches the results of #AimingForGreat industry study

LGBT Great study examines the positive contributions that LGBT+ talent and leadership brings to the investment and savings industry and concludes that firms and leaders need to do more for LGBT+ employees.

LGBT Great is a specialist membership organisation focussed on helping firms to create LGBT+ diversity and inclusion within the global investment and savings industry. A key initiative of LGBT Great is Project 1000 and the #hereiam video campaign. This aim of this initiative is to identify and inspire 1000 LGBT+ and ally employees working in the sector to become visible.

Organisations that embrace LGBT+ diversity and inclusion do better than those that don’t. It is estimated that 532 million people around the world identify as LGBT+ and this number is increasing. Despite the success of high profile LGBT+ individuals in business, much more needs to be done to understand and embrace the agenda in the investment and savings industry in particular. In this study LGBT Great asserts that LGBT+ talent offers a huge opportunity for the sector as this group possesses high levels of the qualities associated with inclusive leadership which boosts performance in teams.

LGBT Great’s Managing Director, Matt Cameron comments that:

“We are extremely proud to have collaborated with Professor Mustafa of Brunel University Business School to develop this innovative study. This is the first study to examine the contributions that LGBT+ talent brings to the sector and how this can benefit the industry in the near future. This is also the first study to examine what LGBT+ talent wants and what is currently being offered by investment and savings firms. We hope that this will provide a platform to engage industry leaders and offer a pragmatic case for developing LGBT+ diversity and inclusion across the global sector”.

The study surveyed 130 LGBT+ employees currently working within the industry and ten investment and savings firms. The study also interviewed 30 of LGBT Great’s Project 1000 role models to provide a blend of qualitative and quantitative data across EMEA, APAC and the USA. The study highlights 6 clear insights:

1. LGBT+ talent brings a rich source of skills and competencies to the industry.

2. Creating environments where LGBT+ talent can be ‘out’ increases satisfaction and enhances productivity.

3. LGBT+ talent in the industry is not currently understood.

4. LGBT+ talent wants advocacy from industry executives and board representatives.

5. Support for LGBT+ talent is currently falling short.

6. Existing LGBT+ talent represents the wider industry demographic.

The #AimingForGreat study highlights a series of useful statistics and makes a strong case that LGBT+ talent needs more support from the industry in general and individual firms in particular.

· 92% of responders say that LGBT+ role models and allies are important at board level.

· 83% said that they would like LGBT+ leadership and talent development programmes.

· 82% said that their next career move will be influenced by how LGBT+ friendly the firm is.

· 77% are looking for quantifiable demonstration of LGBT+ diversity and inclusion.

· 49% did not feel supported by colleagues or leadership when they ‘came out’ at work.

· 24% said that they do not feel supported by their firm’s executives.

In response to the findings of the report, LGBT Great is calling on industry leaders to show support for LGBT+ talent by becoming Project 1000 ally role models in the #50For50 campaign. This year marks 50 years since the start of the Stonewall movement, broadly considered as the start of the period of enlightenment for LGBT+ rights. Working in collaboration with the Diversity Project, the Investment Association and others, the 50 list will be published during Pride week in July.

To request a copy of the #AimingForGreat study, please contact LGBT Great directly: https://www.lgbtgreat.com/research

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