LGBTQ+ professionals make up just 3.6% of senior leaders and the average hourly earnings of lesbian, gay and bisexual employees are 5.5% lower than their straight counterparts, according to new data.
The research, released by diversity and inclusion consultancy INvolve, to mark the release of the annual Outstanding LGBTQ+ Role Model Lists, looked at the FTSE 250, Fortune 100 and The Times Top 100 Graduate Employers and found the three sectors leading the way on LGBTQ+ reporting are legal, finance and consulting. The study, conducted in partnership with leading CSR data platform Windō, found that 4.8% of senior leaders in the legal sector are LGBTQ+ individuals, followed by 4.6% in finance and 3% in consulting.
Crucially, the data highlights how few companies are reporting their LGBTQ+ inclusion data. Only 23 companies are reporting the level of LGBTQ+ representation in senior leadership roles, and even fewer – just nine – are reporting their sexual orientation pay gaps. While the Government has failed to make LGBTQ+ representation and pay gap reporting mandatory, transparency with this data demonstrates a genuine commitment to diversity, equity and inclusion, reinforcing an inclusive corporate culture that attracts top talent.
TACKLING LGBTQ+ INCLUSION
INvolve is therefore urging companies to collect, track, and publicly report on their LGBTQ+ data as an important first step to tackle the lack of LGBTQ+ representation and inclusion within business. With LGBTQ+ rights increasingly under attack globally, public reporting also means that stakeholders, including employees, customers, investors, and the general public, can hold companies accountable and evaluate whether they are living up to their stated values and commitments to stand by and protect all of their employees. Far from being something for companies to shy away from, accountability is key in the path to meaningful progress.
“The first step to drive progress and accountability for change is honest, transparent measurement to create clear benchmarks for progress,” stated Suki Sandhu OBE, Founder and CEO of Involve. “While there is currently no legal mandate, businesses taking DEI seriously should be stepping up and reporting their levels of LGBTQ+ senior representation, as well as any pay gaps. It’s all very well to claim solidarity with the LGBTQ+ community during Pride Month, but actions, not words, are essential for change all year round.”
CREATING MORE INCLUSIVE WORKPLACES
This research comes as INvolve released its annual Outstanding Role Model Lists supported by YouTube that celebrate and showcase LGBTQ+ business leaders and allies who are breaking down barriers and creating more inclusive workplaces across the world.
With an incredible 31 countries represented this year, the global nature of the Outstanding Lists reflects a myriad of lived-experiences, unique stories and provides a compelling intersectional insight into global LGBTQ+ communities. Overall, 18% of the Role Models on this year’s lists are from countries outside of Europe and North America.
“Our Outstanding Role Model Lists celebrate role models in business who are smashing barriers to progress that can prevent global LGBTQ+ communities from succeeding and are creating businesses where everyone can thrive as their authentic selves,” added Sandhu. “With the recent and unrelenting rise in hostility towards LGBTQ+ communities across the world, it’s never been more important to celebrate, commit to action, and learn from those who are driving real change.”
OUTSTANDING LGBTQ+ EXECUTIVES
Julia Hoggett, CEO at LSE plc, leads 2023’s top Outstanding LGBTQ+ Executive list. “It is an honour to be included on INvolve’s Outstanding LGBTQ+ Executives Role Model List 2023, with such a distinguished group of business leaders. While we have come a long way in the quest for a fairer and more inclusive work environment for LGBTQ+ people, there is still a lot more for us to do to ensure that we are giving everybody an equal opportunity to thrive,” stated Hoggett.
“Speaking up for those who feel less able to do so is something that anyone in a position of leadership must recognise as part of the day job. We must continue to have open conversations about what remains to be improved and make sure we are implementing the tools needed to drive further change. I am grateful to have the platform from which to raise these issues and to INvolve for helping us remain focused on this important topic globally.”
The top 20 of 2023’s Top 100 LGBTQ+ Executives, include:
- Julia Hoggett, CEO, LSE plc and Head of Equities, Capital Markets, LSEG
- Jen Carter, Global Head of Technology, GOOGLE
- Avon Neo, Head of Global Markets Sales to Private Banks Asia, NOMURA SINGAPORE LIMITED
- Adam Moysey, Chief Financial Officer, NBCUNIVERSAL STUDIO GROUP
- Caroline Farberger, Chair, Board Executive in Financial Services, Investor, G7 Advisor, Keynote speaker, CAROLINE FARBERGER AB
- David Furnish, CEO | Chair, ROCKET ENTERTAINMENT GROUP | ELTON JOHN AIDS FOUNDATION
- Louis Vega, President, North America; Vice President, Government Affairs and Advocacy, DOW
- David Hynam, CEO, LV=
- Robyn Grew, CEO, MAN GROUP
- Iris Wilson-Farley, Vice President, Talent, KOMATSU
- Jen Wong, Chief Operating Officer, REDDIT
- Eugenio Pirri, Chief Executive Officer, DORCHESTER COLLECTION
- Arjan Dijk, SVP and Chief Marketing Officer, BOOKING.COM
- Jevan Lenox, Chief People Officer, INSITRO
- Maggie Lower, Board Director, GRINDR AND SAFEPLACE INTERNATIONAL
- Lule Demmissie, U.S. CEO, ETORO
- Matthias Krause, Regional Chief Operating Officer, Americas, DEUTSCHE BANK
- Lukas Haider, Managing Director & Partner, BOSTON CONSULTING GROUP
- James Miller, Chief People Officer, GBG PLC
- Raj Jani, Head of Global Talent Development, RALPH LAUREN
OUTSTANDING LGBTQ+ FUTURE LEADERS
Andre Bogues, Senior Culture & Entertainment Manager at Diageo, tops the Outstanding LGBTQ+ Future Leader list. “I’m so proud to be included in the Outstanding Role Model Lists amongst such inspirational Role Models. I’m all about intersectionality and allowing people to be their full selves at work, so to be seen and commended for that is incredible,” stated Bogues. “There is no doubt that we have progressed the visibility of the community, with waves being made in diversity and inclusion, but there’s a way to go when it comes to equity. Queer culture, and specifically Black queer culture, is at the core of so much within society, yet the balance of power is unequal. And critically, more needs to be done to support our Trans+ siblings. We’ve gone from conversations around gender-neutral bathrooms to fighting to prove their existence and protecting their rights. We all need to show up.”
The top 20 of 2023 Top 100 LGBTQ+ Future Leaders, include:
- Andre Bogues, Senior Culture & Entertainment Manager, DIAGEO
- Lauryn Yuen, Client Solutions Manager, TIKTOK
- Bruna Gil, Head of Channel Sales EMEA, LINKEDIN
- Isabella Hilber, Project Leader, BOSTON CONSULTING GROUP
- Leigh F Capule, Assistant Vice President for Operations, HSBC
- Jean Vianney Cordeiro, Head of Corporate Development, PETS AT HOME PLC
- Trevor Ewers, Associate R&D Director, DOW
- Sundeep Singh Boparai MHA, DHA (c), Healthcare Administrator, NORTHWELL HEALTH
- Harjit Saggu, Former Principal Audit Manager, DEUTSCHE BANK
- Marta Lima, Site Reliability Engineering Manager, VODAFONE
- Emily Jasper, Director, Company Information Services, S&P GLOBAL MARKET INTELLIGENCE
- Travis Torrence, Managing Counsel – U.S. Litigation, SHELL USA
- Daniel Peach, Head of Customer Programs, GOOGLE
- Junior Beaman, Senior Leadership Coach, NATWEST GROUP
- Sergio Matos, Finance Manager, MICROSOFT
- Aidan Jack Fitzgerald, Senior Associate, Financial Services Consulting, PwC IRELAND
- Jasmin Fox, Compensation Manager, ELECTRONIC ARTS
- Scherezade Maestre, Senior Manager Global Immigration and Business Travel, VIALTO PARTNERS
- Jeiz Robles, IBM Asia Pacific Marketplace Diversity Business Development Executive, IBM
- Kane Harvey, Area Head of New Categories, APMEA South, BRITISH AMERICAN TOBACCO
OUTSTANDING ALLY EXECUTIVES
Neeraj Aggarwal, Regional Chair – Asia Pacific at Boston Consulting Group, who is this year’s Outstanding Ally Executive said he is “tremendously honored” to be included in the Outstanding Role Model Lists. “Diversity and Equality are important People values to me. Having grown up in India and worked across Asia Pacific/US, I have seen firsthand how diversity enriches our communities and equality makes us better human beings,” stated Aggarwal.
“Over the past decade, there has been good progress made in the corporate world for the LGBTQ+ community. LGBTQ+ DEI has increasingly become a pillar in corporate DEI strategy, in contrast to ten years ago when this was not prominently on the radar of companies. Corporate initiatives are also complemented by organizations, conferences, recruitment forums, and research reports focused on LGBTQ+ DEI. However, this progress has not been linear, especially in the more recent past where LGBTQ+ DEI has either stopped short or even regressed in some parts of the world. Hence, our collective ongoing effort is critical.”
The top 20 of the 2023’s Top 50 Ally Executives, include:
- Neeraj Aggarwal, Regional Chair – Asia Pacific, BOSTON CONSULTING GROUP
- Cristina Diezhandino, Chief Marketing Officer, DIAGEO
- Derek Young, President, Japan, FIDELITY INTERNATIONAL
- Balbir Bakhshi, Chief Risk Officer and Executive Committee Sponsor for the LSEG Pride Network, LSEG (LONDON STOCK EXCHANGE GROUP)
- Anne Aslett, Chief Executive Officer, ELTON JOHN AIDS FOUNDATION
- Fabrizio Campelli, Member of the Management Board, Head of Corporate Bank and Investment Bank, DEUTSCHE BANK
- Caroline Frankum, Global CEO, Profiles Division, KANTAR
- Clive Selley CBE, Chief Executive, OPENREACH LTD
- Julie Linn Teigland, EY Europe, Middle East, India and Africa (EMEIA) CEO and Area Managing Partner, EY
- Alisha Alaimo, President of Biogen, North America Organization, BIOGEN
- Fraser Longden, Chief Operating Officer, WICKES PLC
- Jen Tippin, Chief People & Transformation Officer, NATWEST GROUP
- Steve Kemps, Executive Vice President, Chief Legal Officer, S&P GLOBAL
- Anna Di Silverio, President, Europe and Middle East, AVANADE
- Amy Wilson, General Counsel and Corporate Secretary, DOW
- Esteban Samartin, Chief Operations Officer, SAP LATIN AMERICA SOUTH
- Terecina Kwong, Chief Operating Officer, HSBC Bank Plc and Europe, HSBC
- Hanneke Smits, Global Head of Investment Management, BNY MELLON
- Donna Milrod, Executive Vice President, Chief Product Officer, STATE STREET CORPORATION
- Lucy Izzard, Chief Operating Officer, Europe, TD SECURITIES
Check out the complete lists here.
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