Corporate America: Friend or Foe to the LGBT Community

December 1, 2017

In Corporate America, diversity initiatives are not enough to retain and integrate minority employees. Only 1 out of 500 CEOs from the Fortune 500 companies is part of the LGBT community. What does that tell us about our current system of internal mobility for the LGBT? 

It tells us that leading corporations lack the appropriate professional development programs and resources to foster growth and leadership for their LGBT employees. 

Through our conversation with Jose L Garcia, the Senior Vice President of Diversity Talent Acquisition Strategy at Wells Fargo, we learned that a few organizations are paving the way for an LGBT equality revolution. Wells Fargo has integrated a fast track program to train and mold LGBT employees to higher executive leadership roles in their firm. In addition, Garcia highlighted that managers are now evaluated by the number of minority employees they retain in the firm. As a result, organizations such as Wells Fargo are pushing the movement for greater attention to professional development programs geared to foster the growth of the LGBT community. 

Although our current Corporate America has its cracks, we are beginning to see a wave of equality being adopted by some firms. We encourage all companies to reexamine their current diversity initiatives in order to properly integrate and support their LGBT employees. Here we advise firms to identify the trends in LGBT turnover rates and develop an action plan to retain and foster their development. You have the opportunity to rewrite the narrative for the LGBT.

Be at the forefront of equality for everyone.