Research from Out Leadership indicates that LGBTQ+ employees face a glass ceiling in the workplace, making it harder to climb corporate ladders and set new expectations for representation. The study has found that less than one percent of 5,670 boardroom seats at Fortune 500 companies are filled by LGBTQ+ directors. This is according to an annual list published by Fortune magazine, ranking the largest 500 corporations in the US by total revenue.
Pink News brings attention to notable queer corporate leaders such as Tim Cook of Apple, Sam Altman of OpenAI, and Tara Bunch of Airbnb. However, beyond these names, there are few known figures in leadership positions. Out Leadership’s report calls out companies that only show support for the LGBTQ community as a performative allyship. “Big corporations such as North Face, Anheuser-Busch InBev, Target and Kohl’s have all recently ran inclusive ad campaigns featuring Lesbian, Gay Bisexual, Transgender, Queer and Intersex (LGBTQI+) people. This makes sense from a business perspective, with “pink money” weighing 3.5 trillion euros globally and around 874 billion euros in the EU.”
But the LGBTQI+ community isn’t easily fooled by companies’ attempts to ally themselves with queer folk, only to turn around and withdraw support when times get tough. In 2023, plenty of big name corporations turned a blind eye to the LGBTQ+ community when queer friendly ads or products were rejected and protested by the far right. According to Out Leadership, additional research by consultancies like BCG and McKinsey suggest that diversifying a leadership team can “enhance productivity, enable innovation, and improve financial performance.”
Ryan Federo, an associate professor at the University of the Balearic Islands published a paper titled “The Rainbow Glass Ceiling: Breaking Barriers for LGBTQ+ Inclusion in Board Diversity.” The paper identifies the challenges that prevent LGBTQ+ professionals from getting a seat at the table as top leaders at their companies. “It’s so shocking to me that there is an increasing number of firms having policies about LGBTQ+ employees, but then again, we’re forgetting one part of the equation: What about those people at the top?” Federo told Pink News.
Pink News also reports there is more representation for women and other minorities in boardrooms, but it remains clear that the ceiling is intact for queer professionals, creating a “persistent gap” in workplace equality.
