Credit Suisse has released a report that explores the benefits of LGBT diversity in relation to corporate performance.
This is not the first time that the financial services corporation has explored the tangible benefits of diversity. In 2014 it published a report on the Women in Senior Management and the effects on business. It decided to apply the same analytical framework to LGBT diversity.
For the purposes of its report, it looked at 270 companies that it regards as LGBT-friendly in terms of policies and customer relations.
It concludes, the growing wealth of research, including our own research on gender and sexual diversity, points to diversity being a positive contribution to corporate performance.
It says that companies that embrace LGBT employees are likely to benefit from lower staff turnover rates and better retention, both of which directly reduce operating costs.
In addition, LGBT employees are also more productive if they feel able to be out at work.
Considering the results, corporates need to do more to promote an open and inclusive culture.
Read the report here.
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