Revealed: Top LGBTQ Friendly Industries In The US
Equality is not only good for employees, it’s good for business too
According to research by personal finance blog OverdraftApps.com and The HRC (Human Rights Campaign Foundation), companies within the banking and personal finance sector have topped the list as the best places to work for the LGBTQ community.
HRC’s 2018 Corporate Equality Index rated 947 companies in the US, based on their commitment to LGBTQ equality in the workplace. They score each company on a range of criteria, such as non-discrimination policies, equal benefits and accountability.
Top US Industries with LGBTQ Friendly Companies
More and more companies in America are creating diversity initiatives. Companies within the banking & finance, law and insurance sectors have topped the list, with 15% of all LGBTQ friendly companies falling within these three industries.
In direct comparison, industries such as marketing, education and fashion were towards the bottom of the list, with just 1% of LGBTQ friendly companies falling within these three industries.
10 LGBTQ Industries Ranked from High to Low
Which US State Is Home to the Most LGBTQ Friendly Companies?
Perhaps unsurprisingly, New York is at the top of the list followed closely by California and Illinois. Companies in these three states make up 17% of the total list of LGBTQ friendly companies.
The states with the lowest number of LGBTQ friendly companies are Alabama, Arkansas, Louisiana - making up just 0.3% of the total list.
The Impact of Employer Equality on LGBTQ Personal Finance
Some of the main challenges they face are:
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Discrimination or harassment at work (13%)
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Not being considered for jobs (12%)
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Being given a lower salary compared to the general population and less inclined to be given a promotion (10%)
Title VII of the Civil Rights Act of 1964 protects employees from discrimination based on race, color, sex or religion however there is no clause protecting discrimination based on sexual orientation.
Ruben Aknin - Co-founder at OverdraftApps.com explains:
“The results of the HRC survey shines a light on the many positive steps that have been taken by companies all over the US to revolutionize their inclusivity and diversity policies.
“Whilst some industries, states and companies are making leaps and bounds towards inclusivity, it is clear that there are still some sectors who need to review and revise their policies for their LGBTQ workforce.”
Justin Nelson, co-founder and president of the National LGBT Chamber of Commerce says:
“Corporations need to do their due diligence when trying to attract LGBT employees. Only advertising to the community isn't going to do it.
“Companies must ensure they are treating their LGBT employees fairly, as well as utilizing LGBT businesses in their diverse supply chains.”
What’s Next for Employers Looking to Improve Inclusivity?
There are currently 100 US businesses working together as a coalition to support the Equality Act, which would provide legislation to protect the LGBTQ community from discrimination under federal law.
Equality is not only good for employees, it’s good for business too, so encouraging companies to support inclusivity and diversity legislation could go some way for employers to make a real difference.
Author Bio
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Uri Abramson is the co-founder of personal finance blog OverdraftApps.com, specialists in transparent and honest reviews of financial products for the consumer market. |
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