Strengthening the economic case
The economic and business case for LGBTQ+ inclusion is central to the mission of Open For Business.
Our economic case comprises a comprehensive evidence base linking LGBTQ+ inclusion to better economic performance. The case outlines 27 Propositions across 3 categories of performance that synthesize a broad and fragmented evidence base into a clear and comprehensive economic case for LGBTQ+ inclusion.
Click here to read the full report, Strengthening the Economic Case.
A. ECONOMIC PERFORMANCEThe evidence shows that open, inclusive and diverse societies are better for economic growth, and that discrimination on the basis of sexual orientation or gender identity can damage long-term economic prospects. |
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| Proposition 1: Competitiveness LGBT+ inclusive economies are more competitive. |
| Proposition 2: Entrepreneurship LGBT+ inclusion results in higher levels of entrepreneurship, creativity and innovation. |
| Proposition 3: Corruption LGBT+ discrimination often goes hand-in-hand with corrupt practices and a lack of openness. |
| Proposition 4: Direct Investment LGBT+ inclusion is associated with higher levels of direct investment. |
| Proposition 5: Global Markets LGBT+ discrimination may inhibit local companies from connecting to global markets. |
| Proposition 6: Brain Drain LGBT+ discrimination results in a “brain drain” – the emigration of talented and skilled individuals. |
| Proposition 7: Public Health LGBT+ discrimination leads to negative economic consequences as a result of poor health outcomes. |
| Proposition 8: National Reputation LGBT+ discrimination impacts perceptions on a world stage, which drive tourism, talent attraction and export markets for consumer goods. |
| Proposition 9: National Productivity LGBT+ discrimination leads to lower levels of national productivity. |
| Proposition 10: Urban Economic Development LGBT+ inclusion signals a diverse and creative environment, which creates the right conditions for urban economic growth. |
| Proposition 11: National Economic Development LGBT+ inclusive economies have higher levels of growth in Gross Domestic Product. |
B. BUSINESS PERFORMANCEStronger financial performance flows from the increased ability of LGBT+ inclusive companies to attract and retain talent, to innovate, and to build customer loyalty and brand strength. |
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| Proposition 12: Attracting Talent Companies that are more diverse and inclusive are better able to compete for talented employees. |
| Proposition 13: Retaining Talent Companies that are more diverse and inclusive have higher rates of retention of talented employees. |
| Proposition 14: Innovation Companies that are more diverse and inclusive have higher levels of innovation and creativity. |
| Proposition 15: Collaboration Companies that are more diverse and inclusive create an atmosphere of trust and communication, which is essential for effective teamwork. |
| Proposition 16: Customer Orientation Companies that are more diverse and inclusive are better able to anticipate the needs of all customers, and to access a broader client base. |
| Proposition 17: LGBT+ Consumers Companies that are LGBT+ inclusive are better placed to benefit from the large, growing, global spending power of LGBT+ consumers. |
| Proposition 18: Brand Strength Companies that are more diverse and inclusive have greater brand appeal and loyalty with consumers who want socially responsible brands. |
| Proposition 19: Financial Performance Companies that are LGBT+ inclusive have better share price performance, higher return on equity, higher market valuations and stronger cash flows. |
C. INDIVIDUAL PERFORMANCEIndividuals working in open, diverse and inclusive environments tend to perform better. A culture of inclusion and diversity can boost individual performance – for everyone, not just LGBT+ individuals. |
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| Proposition 20: Authenticity Individuals working in open, diverse, inclusive environments are able to be themselves, instead of concealing important aspects of themselves. |
| Proposition 21: Motivation Individuals working in open, diverse, inclusive environments have higher levels of motivation. |
| Proposition 22: Affinity Individuals working in open, diverse, inclusive environments have greater affinity with the values and culture of the workplace. |
| Proposition 23: Satisfaction Individuals working in open, diverse, inclusive environments have higher levels of job satisfaction. |
| Proposition 24: Health Individuals working in open, diverse, inclusive environments are free from discrimination – a cause of poor mental health and physical violence. |
| Proposition 25: Speaking Up Individuals working in open, diverse, inclusive environments are more likely to speak up with suggestions to improve performance. |
| Proposition 26: The Extra Mile Individuals working in open, diverse, inclusive environments are more likely to go beyond their duties and make a contribution to the life and culture of the company. |
| Proposition 27: Individual Productivity Individuals working in open, diverse, inclusive environments have greater productivity – more efficient work with higher quality outputs. |