As the face is considered the mirror of the soul, employees are seen as the face of brands. As companies compete in a very demanding environment, executives have begun to recognize the great potential that their employees and customers have on sales. Thus, adopting non-discriminatory work and hire policies can have a positive effect on future revenues.
Meanwhile, in the USA, while some states have passed laws and ordinances to establish workplace protections for LGBTQ employees, it remains legal in 29 states to discriminate against job applicants and employees because of their sexual orientation, and in 34 states because of their gender identity. Despite this, private employers have implemented fully inclusive non-discrimination policies at rates that are ahead of lawmakers. According to the report from Human Rights Campaign 2012 (HRC) a record 277 of the Fortune 500-ranked businesses have official Corporate Equality Index ratings based on submitted surveys with an average rating of 78. While 88 of the Fortune 500-ranked businesses achieved a 100% rating, with ten of the top 20 Fortune-ranked businesses at this top score, 86% of them include “sexual orientation” in their non-discrimination policies and 50% include “gender identity.” Also, 60% of the total Fortune 500 offers equivalent medical benefits between spouses and partners and 19% offer transgender-inclusive healthcare benefits, including surgical procedures.
The report highlights that the buying power of LGBTQ consumers is around US$743 billion in 2012 in the USA. HRC President Joe Solmonese said: “In this economy, when every dollar counts, it is particularly important for companies to see that LGBTQ inclusion is good for the bottom line.