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What’s the secret to a more innovative workforce? New research points to LGBTQ+ inclusion
- New research indicates that LGBTQ+ inclusion in the workplace is linked to increased innovation performance.
- A study by Aalto University and the University of Vaasa showed that LGBTQ-friendly corporate policies lead to more patents that are widely cited and of higher quality.
- Organizations with progressive LGBTQ+ policies exhibit higher innovation quality, including patent originality, generality, and internationality.
- An increase in an organization's Corporate Equality Index (CEI) score correlated with a 20% rise in patents and a 25% increase in patent citations.
- Progressive HR policies have been found to enhance employee wellbeing, retention, and profitability, particularly in knowledge-driven organizations.
- The researchers aim to explore specific LGBTQ-friendly policy components that are most related to financial and operational performance.
- Practices like nondiscrimination policies, equal health benefits for transgender individuals, and partnerships with LGBTQ-supportive organizations are highlighted as impactful.
- Inclusive policies support talent management by encouraging LGBTQ+ individuals to pursue advanced positions and stay in roles within organizations.
- Authenticity in LGBTQ+ inclusivity is crucial, as superficial gestures are easily discerned in today's transparent environment.
- Creating an inclusive culture requires genuine commitment at all levels of an organization, not just top management.
- The research underscores the economic significance of LGBTQ-friendliness in driving growth and profitability through innovation.
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