Support For Pride Has Lasting Impact

16 Aug 2018

Recent studies show that LGBT pride can have a lasting positive effect on both work culture and customer loyalty.

While it’s no surprise that out lesbian and gay individuals would want to work for LGBT-inclusive businesses, a recent study featured on Harvard Business Review found the vast majority of allies — non-LGBT individuals who support and advocate for LGBT individuals in the wider community — prefer to work for inclusive companies: a stunning 72% of ally respondents say that, all else being equal, they are more likely to accept a job at a company that is supportive of LGBT employees than one that is not supportive.

71% of LGBT respondents and 82% of allies across HBR’s multimarket sample say they are more likely to purchase from a company that supports LGBT equality.

In the UK, the Pink Pound is reportedly worth an estimated £70 billion each year. Here too, gay and non-LGBT customers are significantly less likely to buy products from organisations that hold negative views of lesbian and gay people, according to a study by VisitScotland.

Supportive companies also win greater brand loyalty from LGBT customers. Studies from Harris Interactive show 78% of LGBT adults and their social circle would switch to brands that are known to be LGBT-friendly.

Pride is also an opportunity for organisations to act on corporate social responsibility and give back to important causes.