Organizations with LGBT inclusion policies increase their talent's productivity by 30% according to work environment study.
According to the Colombian Chamber of LGBT Population, inclusion and non-discrimination strategies in companies have an impact on the performance of employees and companies, increasing productivity by up to 30%, customer and business partner satisfaction, consumption, and loyalty by up to 40%, and profitability by up to 27%. This is a process that many sectors have gradually implemented.
“Knowing, identifying, characterizing, and based on that information, designing well-being plans for employees who belong to diverse communities, including the LGBTIQ+ community, is essential for the development of any company,” said Camilo Clavijo, Country Manager of HubSpot for Latin America.
The technology company has led the implementation of analysis methodologies and the development of effective models of diversity, inclusion, belonging, and non-discrimination. “Measuring the work team and then ensuring the prioritization of inclusion and equity in all areas of the organization is the only way to truly have transparency, commitment, and respond to this need we have as a society and country,” he added.
According to the International Labour Organization (ILO), measuring inclusion is essential to make progress in diversity and inclusion matters, but currently, only one-third of companies do so. It is crucial to disaggregate the data to identify patterns and implement improvements. A company that keeps records of diversity and inclusion actions can continuously adjust strategies and make smarter decisions.
According to the diversity, inclusion, and belonging report by McKinsey and Company and Boston Consulting Group, “Companies with greater diversity in sexual orientation in their leadership team are 25% more likely to financially outperform their peers. However, in Latin America, only 4% of these senior positions are held by diverse groups,” Clavijo reported.
Another concrete action of this organization is the implementation of Employee Resource Groups (ERGs), spaces formed and led by LGBTIQ+ community members, women in technology, people of color, war veterans, and people with disabilities, where they discuss the current panorama of these groups and make their realities known.
“These spaces help increase awareness throughout the company about the existence of diverse perspectives and create communities among employees who identify themselves as members of specific groups. Employee energy levels are higher when they participate in ERGs, and affiliation to these groups provides them with a more attractive and satisfying work experience,” he said.
“This June, more and more companies shine for their achievements in becoming more diverse and inclusive, not just for the iridescence of a rainbow in their logo until the end of the month. To date, there are more than 120 companies with the #FriendlyBiz seal, certifying them as #DiscriminationFreeSpaces, an internationally recognized seal in 15 countries where LGBTIQ+ Chambers of Commerce operate, endorsing corporate initiatives to achieve discrimination-free spaces for two years,” explained Felipe Cárdenas, President of the Chamber of Diversity.
A long road ahead
Despite the progress, there is still revealing data that indicate the need to continue with hard work. According to the latest study on work well-being in Colombia and the reality of workers in the country conducted by HubSpot, only 0.5% of workers believe that diversity and inclusion policies are important factors for promoting work well-being.
Furthermore, very few companies in Colombia carry out this type of analysis and systematically implement a comprehensive plan for diversity and inclusion. It is estimated that less than 1% of companies conduct studies, design clear policies, or provide training and activities that make the company a discrimination-free environment.