Building LGBTQ+ Inclusive Work Cultures That Last
Many brands of choice have made significant strides championing LGBTQ+ inclusive work cultures, beyond the performativity of Pride celebrations - AKA, "food, fun, and famous people."
Since the rise of the modern LGBTQ+ rights movement in the late 1960s, the experiences of LGBTQ+ employees in the workplace have dynamically shifted. Over these past five decades, LGBTQ+ employees have benefited from workplace protections, greater social visibility, and acceptance in most workplaces.
Given all of these gains, many falsely believe LGBTQ+ employees have equal access to jobs, promotions, and stretch assignments they are qualified for. Many more also falsely believe that LGBTQ+ employees can no longer be fired, denied a promotion, or even a job interview simply because of who they are.
Tragically, today’s reality presents a different story:
Global Landscape. According to the Human Rights Watch, “at least 68 countries still have national laws criminalizing same-sex relations between consenting adults,” and “at least 9 countries have national laws criminalizing forms of gender expression that target transgender & nonbinary people.” Legal punishments vary including life imprisonment and even the death penalty.
U.S. Legal Protections. In the U.S., the Supreme Court ruled a landmark case in 2020 stating that Title VII of the Civil Rights Act of 1964 extends protections from workplace discrimination for LGBTQ+ employees. Despite this monumental ruling, LGBTQ+ employees in the United States, particularly BIPOC LGBTQ+ employees, frequently endure workplace discrimination and harassment, resulting in lower job security, economic stability, and a lack of psychological safety on the job.
Law versus Culture. While most workplaces recognize that discrimination has no place in business, let alone society, critical gaps in legal protections still remain and create barriers to building LGBTQ+ inclusive cultures at work. Specifically, the U.S. still lacks a federal law protecting employees on the basis of sexual orientation and gender identity, and even in states and localities that do offer these protections, transforming workplace culture to fully include LGBTQ+ workers remain unfinished.
Roll Out the Rainbow Welcome Mat for LGBTQ+ Employees with Gina Pagan
Thankfully, many leading Fortune 100 businesses have a long history of recognizing the value LGBTQ+ employees add to their company’s culture. Many brands of choice have made significant strides championing LGBTQ+ inclusive cultures, beyond the performativity of pride celebrations – AKA, “food, fun, and famous people.” Many of these organizations are leaning into innovative and impactful ideas by asking and listening to their LGBTQ+ employees on ways to truly roll out the rainbow welcome mat.
In this three-part Imagine Belonging Podcast series, we take a deeper dive into learning how one company, Northwestern Mutual, moved beyond performativity, and embraced impactful actions that have led to meaningful progress. NM, along with other brands of choice, know the competitive advantage of creating a more LGBTQ+ inclusive culture. Specifically, they know that LGBTQ+ inclusive workplaces are better at:
1) Retaining and attracting talent.
2) Building brand strength and consumer loyalty.
3) Unlocking innovation, creativity, and business success.
These three factors lead to stronger financial performance – specifically, better share price performance, higher return on equity, higher market valuations, and stronger cash flows.
It’s for these reasons, and many more, that employers like Northwestern Mutual provide greater access to leadership, stretch opportunities and influence for their LGBTQ+ employees. Leaning on the lived experiences of LGBTQ+ employees, leaders at NM contribute to building more LGBTQ+ practices and systems in a responsible way.
In our first interview of three, we spoke with Gina Pagan, a Financial Advisor at Northwestern Mutual. She began her career at the company in 2009 as a college intern, and has since built a team and a practice that helps individuals, families and businesses align their actions with their values - primarily focusing on serving diverse markets with an emphasis on LGBTQ+ planning. As a leader, she both mentors and develops new advisors within the firm, and is heavily involved in diversity and inclusion efforts at Northwestern Mutual, both locally and nationwide.
Together, Gina and I explored the NM employee experience, learning first-hand from her perspective on how the company is committed to rolling out the rainbow welcome mat for LGBTQ+ prospective employees. We also discussed the importance of current LGBTQ+ employees’ potential to ascending into the highest ranks of leadership to enjoy better company performance, accelerating the company’s DEI commitments, and attracting new clients and vendors.
Activate the Power of LGBTQ+ Consumer Loyalty with Matt Erickson
In our second interview, we amplify how LGBTQ+ inclusive companies build brand strength and consumer loyalty when they show up for LGBTQ+ people and our communities, especially during these challenging times when so many states are introducing anti-LGBTQ+ legislation that is bad for business.
After all, the LGBTQ+ community is a powerful force in the economy. In the US, LGBTQ+ consumers spend an estimated $1 Trillion (with a T!) annually. That’s a huge pile of cash! And it is money that smart business owners want to get their hands on.
There are a number of reasons why brands of choice ought to consider building more inclusive organizations for LGBTQ+ employees and customers:
Demographic Shift. The number of LGBTQ+ adults in the US is expected to reach 30 million by 2025, which means there’s a significant market opportunity to provide culturally specific products and services.
Consumer Loyalty. LGBTQ+ consumers are loyal. We are more likely to spend our hard-earned money with businesses we feel are supportive of our community. We’re more likely to recommend those businesses to their friends and family.
Rainbow Affluence. LGBTQ+ consumers are affluent. On the whole, we tend to have higher incomes and higher levels of education than the general population. This means that we’re more likely to spend money on discretionary items, such as travel, dining out, and entertainment.
So, if you're looking to grow your business, and if you’re looking to become a leading brand of choice, it's important to target LGBTQ+ consumers, and our interview with Northwestern Mutual, Park Avenue Financial Advisor, Matthew Erickson we will learn why. Together, discuss his company’s commitment to creating inclusive experiences for LGBTQ+ customers as Matt shares powerful tips to empower your business to accelerate the power of LGBTQ+ consumer spending, which will boost business profits.
Matt is a comprehensive and integrated Financial Advisor, and his practice focuses on the growth, visibility and prosperity of the LGBTQ+ community. He has a demonstrated history in creating planning across all stages of life such as risk management, investing for growth and accumulation of wealth, retirement planning, tax efficiency and strategies for solid long term care planning and protection.
His relationship to Northwestern Mutual has led to his work on the Field Advisory Council for the LGBTQ+ segment for the company. He has worked closely with specialized medical risk in rolling out the Northwestern Mutual HIV+ programs now in place, has helped change and update underwriting procedures for the transgender community and is the financial planning resource specializing in adoption, surrogacy and IVF planning with the organization Gays with Kids.
Support Local LGBTQ+ Communities & Accelerate Your DEI Commitments with Belle Ives
In our third and final interview of this podcast series, we highlight how leading Fortune 100 companies honor their DEI commitments by supporting local LGBTQ+ communities. In recent years, there has been a growing trend of businesses speaking out against anti-LGBTQ+ legislation.
This is a positive development, as it sends a clear message to lawmakers that the vast majority of Americans support equality for all. There are a number of reasons why businesses should denounce anti-LGBTQ+ legislation.
The Human Imperative. It's the right thing to do. LGBTQ+ people are just like everyone else, and they deserve to be treated with dignity and respect.
The Business Case. It's good for business. A recent study found that businesses that are seen as supportive of LGBTQ+ rights are more likely to attract and retain top talent, as well as customers.
Investment Opportunity. It's good for the economy. When businesses denounce anti-LGBTQ+ legislation, it sends a message that the United States is a welcoming place to do business. This can attract investment and jobs to the country.
Belle Ives, offers powerful insights in this interview for business leaders, empowering them to recognize the enormous business opportunities available for brands of choice who show up for LGBTQ+ people and our communities. Belle is a financial advisor with Northwestern Mutual, and she’s been running her firm for five years, and she is the first openly LGBTQ+ advisor in the history of her Boston office.
Through her time as an advisor, she has built a practice that focuses on working specifically with LGBTQ+ clientele. She is wildly passionate about empowering the pride community around their financial planning so that they can live confidently and purposefully in their own professional and personal life pursuits. Together, we’ll explore NM’s commitment to showing up for LGBTQ+ people and our communities throughout the U.S.
Want more insights on how to build LGBTQ+ inclusive workplace cultures that last?
Savor these insightful conversations, and if you’re looking for ways to connect with inspiring leaders building more inclusive workplaces be sure to join the Belonging Membership Community – a community of leaders committed to advancing their DEI goals while practicing community care. Members have the unique opportunity to engage with our guests 1:1 after our podcast recordings where they can participate in a private Q&A session with our guests.
Then register for our June 27th Pride Panel moderated by Rhodes Perry. The panel features some of today’s most celebrated transgender DEI thought leaders including Celia Daniels, Gavriel Legyend, and Rex Wilde.
Thanks for growing the #BelongingMovement!