In anticipation of Pride month, NewtonX fielded research on LGBTQ diversity and inclusion. The survey gathered insights from 75 CFOs across the US from small, medium and large businesses. There were some surprising findings.
The results show that many organizations openly support and advocate for LGBTQ. However, there’s still room to improve when it comes to representation at the executive level. We asked CFOs to rank where their organizations stood. We used a scale of 1-9 with 1 being “strongly disagree” and 9 being “strongly agree.” NewtonX data show positive marks (6.3), in that most companies are doing well in response to “LGBTQ employees feel like they are an integral part of the company.”
However, our CFOs report LGBTQ tended to not be well represented in management, averaging 4.2 on the scale.
When asked a slightly different version of the question that focused on the efforts of the executive team, “My company’s executive team invests in making LGBTQ employees feel they are an integral part of the company,” the response was a neutral, but trending in the right direction with a score of 5.3. Executives would do well to show they are leading change, such as setting diversity & inclusion goals and investing in initiatives that foster these efforts and track progress over time. Making LGBTQ employees feel they are an integral part of a company isn’t just about the attitudes and behaviors or rank and file employees or public messaging; it’s something executives have to also work at.
When it comes to the executive team ensuring LGBTQ employees are well represented at the management level, the results were also solidly in the middle at 4.3. Executive teams and Boards can do more to improve representation at the management level. Change starts from the top. It’s on executives to make sure their companies represent LGBTQ people.
NewtonX has a commitment to creating inclusive workplaces. We want to help raise awareness of successes and opportunities to help create more inclusive LGBTQ organizations. NewtonX proudly supports LGBTQ diversity and inclusion, this month and every month.