A study by an American management consulting firm, Boston Consulting Group revealed that companies with LGBT+ inclusive work policies tend to attract and retain top talent. According to Human Rights Director, there was no negative impact on the revenue growth of companies that openly supported the inclusion of the LGBT+ community.
Along with Boston Consulting Group, a coalition of global companies for inclusive and diverse societies, Open by Business also joined in organising the report by analysing 96 emerging markets companies and found 37 of them had openly supported policies against LGBT+ discrimination, up from 19 in 2015.
They found that these organizations had a higher proportion of international revenues, indicating an ability to tap into global supply chains. “Companies that openly support inclusion grow stronger brands, report better customer orientation and are viewed as having stronger corporate governance,” the report said.
According to calculations by University of Massachusetts Amherst economics professor Lee Badgett, India had been losing as much as 1.4% of its national output because of the discriminatory law. Only last year did India’s top court overthrow the country’s notorious, colonial-era anti-gay law.
