In This Competitive World {} Companies are Pursuing Gay Talent
As they seek to attract and keep top talent, more companies are coming out in support of gay rights.
More than 70 major businesses, nearly 40% of them Fortune 500 firms, made public statements supporting same-sex marriage or opposing gay-marriage bans over the last 18 months, according to a study set to be released Wednesday by the Washington, D.C.-based gay rights advocacy group, Human Rights Campaign.
Deena Fidas, a deputy director for Human Rights Campaign, says businesses increasingly see gay rights as key to hiring and keeping talent. Companies often face headaches when moving workers who have a same-sex partner, because states differ widely on tax policies and parental rights for gay couples. An open work culture, she says, is also a selling point in attracting top talent.
Recent campaigns to legalize gay marriage in several states, including New York and Washington State, have given companies the opportunity to voice their support. Such public declarations stand in contrast to four years ago, when just three companies – Google Inc., Levi Strauss & Co. and PG&E Corp. – spoke out against California’s proposed gay-marriage ban, according to the nonprofit.
“It’s no longer a niche issue for businesses,” Ms. Fidas says. “The Alcoas, Aetnas and General Mills of the world are behind it.”
With so many large companies now building “critical mass,” other businesses are less likely to worry that speaking out will lead to customer boycotts and other potential repercussions, she adds.
The findings are part of HRC’s 2013 Corporate Equality Index, which rates 889 companies – including all Fortune 500 firms – based on how hospitable their workplace policies, benefits and practices are for lesbian, gay, bisexual and transgender employees.
A record 252 businesses achieved the top rating of 100% this year, including Lockheed Martin Corp., AMR Corp., Apple Inc., General Motors Co., American Express Co. and Dow Chemical Co. In general, the technology, banking and legal sectors achieved high scores, while the oil and gas industries lagged behind.
By Leslie Kwoh
For the first time since the index was launched in 2002, a majority of Fortune 500 companies incorporated both sexual orientation and gender identity into their non-discrimination policies.
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