LGBT

Cost to business of staying in the closet

Cost to business of staying in the closet

Failing to be inclusive of employees of different sexual orientation can have disastrous effects on staff morale and productivity, according to a new survey. 

More than 80% of those polled in a study of 200 senior lesbian, gay, bisexual and transgender (LGBT) business figures by LGBT network OUTstanding said that being unable to be themselves at work damages people’s confidence and isolates them from workmates. 

Of those surveyed, 85% said that gay employees who stay in the closet waste valuable energy pretending to be someone they’re not, while 86% said that the fear of being outed to colleagues makes them anxious.  Read more »

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America's 10 Worst LGBT Work Insults

America's 10 Worst LGBT Work Insults

The world's first report on measuring the value of LGBT workplace diversity in dollar terms is about to be released.

The new report, "LGBT Diversity: Show Me the Business Case," reveals that companies that bother to invest resources in making workplaces more welcoming and comfortable for lesbian, gay, bisexual and transgender staff can realize big returns, from increasing productivity to reducing exits by LGBT staff who feel uncomfortable.

In the UK this is a big issue, and as you will see below, it is also a major issue in the U.S.

It costs a lot to replace lost staff, so this new report is timely -- and important -- for American business. Read more »

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Are Corporations The New LGBT Advocates?

Are Corporations The New LGBT Advocates?

We’re at 19 states and counting when it comes to same-sex marriage, which is great. But most people don’t realize there are still 32 states where you can be fired just for being LGBT.

President Obama’s executive order is only for federal contractors and the proposed national law (ENDA) is flawed and stalled in congress.

The next frontier for LGBT rights is in the workplace with corporations leading the way where state and federal law falls short.

Finding equality in the workplace is an issue many LGBT people struggle with every day. Read more »

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The Ins and Outs of LGBT Caregiving

The Ins and Outs of LGBT Caregiving

We, (those of us older than 50) are now finding out what Bette Davis knew, that “Old age ain’t no place for sissies.” Those of us who are also lesbian, gay, bisexual or transgender (LGBT) may have additional challenges including homophobia and heteronormativity, which can send us running back to the very closets we fought so hard to leave, according to Stein and colleagues in a 2010 article in the Journal of Gerontology Social Work.  

Caregiving with a Twist: Family and Societal Issues Faced by LGBT Caregivers
By Ken South

LGBT Individuals as Caregivers for Aging Parents and Partners
By Kristina Hash

Avoiding Complicated Grief among LGBT Caregivers
By Eboni Green Read more »

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BP's Former CEO Explains Why LGBT Equality Makes Good Business Sense

BP's Former CEO Explains Why LGBT Equality Makes Good Business Sense

On 2 June 2013, I wrote an editorial in the Financial Times arguing the case for gay marriage. The House of Lords would vote on a measure legalising same-sex marriage the following day. I supported the bill as a pragmatic legislator, as a gay man and as a human being. But I also supported it because I am a businessman.

Business does not usually take a position on the institution of marriage. But, in my time as chief executive, I learned that any policy that fosters an inclusive environment makes good business sense. Paul Reed, my former colleague at BP and now a senior executive there, puts it best: "I don’t want people saving a quarter of their brain to hide who they are. I want them to apply their whole brain to their job." Read more »

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Why Gay Workers Decide to Stay in the Closet

Why Gay Workers Decide to Stay in the Closet

At Boston University, Rebecca Farmer was active in the lesbian, gay, bisexual and transgender community. But when it came time to pursue a career in finance, the 23-year-old decided to stay in the closet.

Through six internships and the start of her first job in a rotational training program at financial-services firm UBS AG, she stayed quiet when conversations turned personal.

"It was fear of being negatively perceived," Ms. Farmer said. "I was more concerned about the people I sit next to, not the company itself." Read more »

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Will Gay People Retire With Dignity?

The National Gay and Lesbian Task Force estimates 3 million LGBT elders live in the United States. As Baby Boomers age, that number will grow.  In some places, aging members of the LGBT community are driving a nascent movement. Forward thinking people are creating LGBT friendly retirementcommunities, building in acceptance and a supportive environment.

Can we do this otherwise,  without special, prejudice- free facilities where aging LGBT folks are welcome?

Maybe not. Read more »

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Top firms in China meet for first LGBTI business summit

Top firms in China meet for first LGBTI business summit

Top Chinese and western firms have met for a summit in Shanghai on how to support LGBTI workers, many of who are still in the closet.

Chinese companies often say they don’t know of any LGBTI staff – but now they are starting to tackle the issues.

The summit today (27 March), thought to be the first of its kind in China, brought together 120 people from around 100 companies, about 10% of which were Chinese.

Among them was HSBC, IBM and Chinese computer company Lenovo but 50 Fortune 500 firms were represented.

It was organized by Steven Paul Bielinski, who founded Shanghai LGBT Professionals just four months ago to create a better future for the countries gay, lesbian, bi and trans employees. Read more »

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Corporations sponsor sexual orientation research study

Corporations sponsor sexual orientation research study

Big business names like Deloitte and General Electric are trying to become more LGBT friendly, as they are funding research that will study the challenges of gay, lesbian, bisexual, and transgender employees in multinational organizations.

Firms across all sectors- oil and gas, finance, consulting, insurance, pharmaceuticals, journalism, technology- are sponsoring research by the New-York based Center for Talent Innovation (CTI), which will examine the benefits of an LGBT inclusive workplace and will publish its findings in 2015.

Sponsored by 86 companies and chaired by household names like Deloitte, Ernst & Young, General Electric, Bank of America, Bloomberg, and Goldman Sachs, the research aims to make work life for LGBT staff more comfortable. Read more »

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