Redefining the Future: LGBTQ+ Talent Attraction & Perception

Executive Summary

LGBT Great surveyed 1832 respondents across seven countries (UK, US, HK, SG, GER, FR, IND) and ran multiple focus groups to understand LGBTQ+ talent perception and attraction trends across the professional world, including a special focus on the financial services industry.

1) Organisations formally assessed for LGBTQ+ inclusion gain a competitive advantage in attracting both LGBTQ+ talent and allies.

Key takeaways
LGBTQ+ talent has a higher inclination to apply to organisations which have an LGBTQ+ inclusive culture and are more comfortable sharing their data with them. The importance of an LGBTQ+ inclusive culture is further evidenced by more than 1 in 2 LGBTQ+ talent (57%) saying they would leave their current role to work for a more LGBTQ+ inclusive employer. Visible LGBTQ+ talent in the hiring process and testimonials from LGBTQ+ employees seem to make the biggest positive difference for LGBTQ+ talent.

Key takeaways
Ally sentiment closely resembles that of LGBTQ+ talent’s: allies also depict a higher inclination to apply to organisations that have an LGBTQ+ inclusive culture. This underscores a crucial pillar of authentic allyship.
Visible LGBTQ+ talent in the hiring process and testimonials from LGBTQ+ employees seem to make the biggest positive difference for allies when compared to non-allies.

• The biggest priority for LGBTQ+ talent when making an employment decision is compensation and benefits and the biggest dissuading factor is a highly competitive and fast-paced working environment.

Key takeaways
Attractive compensation and benefits is found to be the most important factor for LGBTQ+ talent when choosing a new role.
Good job security and a healthy work/life balance come in second whereas L&D opportunities are the least likely to be a top priority.

Key takeaways
A work environment which is too competitive and fast paced dissuades LGBTQ+ talent the most when taking a new role.
Having atypical qualifications and an unhealthy
work life balance are also big deterrents. However, alignment with personal values is the least of concerns.

2) LGBTQ+ talent in the financial services industry is more confident in their ability and skills to succeed, but they perceive the industry to be less appealing compared to non-LGBTQ+ talent.

Key takeaways
Despite being more confident in their background and qualifications to thrive in financial services, LGBTQ+ talent have a worse overall impression of the industry compared to non-LGBTQ+ talent.
The biggest difference (25 points) is observed in the perception of the levels of diversity in the industry with LGBTQ+ talent significantly more likely to think that the industry had less levels of diversity.

3) LGBTQ+ talent is less likely to submit their DE&I data than non-LGBTQ+ talent.

Common concerns surrounding the disclosure of DE&I data include the potential fear of prejudice and discrimination, adverse impacts on career progression, and breaches of data privacy.

• Common concerns surrounding the disclosure of DE&I data include the potential fear of prejudice and discrimination, adverse impacts on career progression, and breaches of data privacy.

• Disclosure of gender identity data for transgender & gender diverse (TGD) and intersex talent is more likely following real-time interaction in the recruitment process indicating the importance of human connectivity in building psychological safety.

Sexual orientation remains the least disclosed
diversity data dimension for both LGBTQ+ and
non-LGBTQ+ talent alike.