Fri, July 06, 2018
LGBT Great is proud to endorse The Investment Association’s ‘Bringing our whole selves to work’ publication released today. It is a promising sign that the UK Trade Body is supporting the need for the development of LGBT+ inclusion which we support fully and a credit to Paul Scaping who has done an excellent job in helping to place LGBT+ inclusion on the IA’s agenda.
The IA champions the interests of the UK-based asset management industry and its membership reflects 93,500 employees. We believe that being open for LGBT+ inclusion is absolutely in the interest of the investment industry for so many reasons. Our research indicates that there are some real opportunities to make progress but that there is a real disconnect between aspirations and actual actions for LGBT+ individuals.
In reality most investment firms are not yet thinking about LGBT+ inclusion so publications such as these are important in making the case real. In our recent report ‘A starting point for LGBT+ inclusion within the investment industry’ we found that the number one concern for LGBT+ individuals is ‘banter’. Our report also concluded that 25% are considering leaving their current employer and that only 50% have any form of LGBT+ HR policies in place. 54% said they also have no LGBT+ network and 62% have no visible Allies.
Similar challenges exist from a societal perspective despite legislative progress in recent years within the UK. The UK Government published the findings of its national study just this week which surveyed 108,000 LGBT + people across the UK. This found that two-thirds still feel uncomfortable in simply hold hands in public. Another study recently found that 1 in 3 employers are ‘less likely’ to hire a transgender person and 43% revealed that they’d be unsure. Over 50% of transgender people have also tried to take their own life and 38% have experienced physical intimidation in the last year. So there is absolutely much more work to do. Pride Matters.
LGBT Great is passionate about evoking real change across the industry and we recognise the work OUTstanding have done in amplifying the need for LGBT+ diversity broadly. The Diversity Project is also making good progress across all spectrums of diversity and has set the stage for change. This is so important in enabling employees to be their authentic selves which is hugely beneficial not only to individual employees but to clients and the organisations themselves.
LGBT Great agrees with the IA in raising awareness of intersectionality of experiences felt by diverse groups. These include those with a physical disability, who identify as Black or who are from a minority group or who have undergone an episode of emotional wellbeing and as well as being part the LGBT+ community. Simply so much more needs to be done.
We are committed to supporting further LGBT+ inclusion and advancing equality for LGBT+ individuals with the investment industry and we believe that there a real opportunity to polevolt the sector forward. Through the development of insights, visibility and outreach our mission is to profile and attract 1000 LGBT+ and Allies individuals for the industry in 5 years.
Our Role Model Program is all about creating the visibility needed to inspire change. A role model is a person who serves as an example by influencing and inspiring others. Our LGBT Great Role Models are LGBT+ or Allies individuals who are working in, or with the investments industry. Help us achieve the 1000 and join the journey.
Become an LGBT Great Role Model.