Ian Johnson, Out Now
October 4, 2007
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TOPICS: BBC TV. Ivan Massow. Gay workplace diversity. Gay and lesbian diversity. Lehman Brothers. Equality and diversity policy. LGBT workplace issues. Gay and lesbian equality in UK banking and finance industry at work. Gay and lesbian staff diversity. Gay workplace diversity news. BBC TV show 'Inside Out' covers issue of lesbian and gay discrimination and workplace diversity issues.
Gay Market News this week has highlighted a very important issue.
We have been discussing the increasingly important issue of lesbian and gay equality in the workplace, and how effective gay and lesbian diversity and equality policies have important benefits -- both for the companies implementing them, and, of course, for the lesbian and gay staff involved.
Gay Market News covered the issue as it relates to gay workplace diversity in the UK mainstream media market.
We also looked at how big business increasingly understands the importance of hiring the best recruits for graduate training programs, including LGBT staff and making gay and lesbian employees and graduate recruits feel welcome at work from day one.
There was a very interesting program on the BBC TV show 'Inside Out' London last night, presented by gay Pink Pound entrepreneur, Ivan Massow.
The program looked at how gay men (since lesbians - and women in general - tend to very few in number in The City) fare in the working world as gay and lesbian employees at work in the business and finance industry segment in London. They interviewed various people with stories to tell -- both positive and negative from a range of companies, such as leading financial services brand Lehman Brothers.
The show was very well done, and you may wish to look at the BBC Inside Out program website to learn more on the topic. Here is an extract:
Prejudice against gay workers in London's financial district
The Pink Plateau
Investment banking is big business. It is a very competitive business, but some people are missing out on the top jobs for reasons other than their skills.
Similar to the race bar and the glass ceiling is the ‘pink plateau’ – the name given to the prejudice that is preventing homosexuals from progressing their careers in the industry. Out of the 67,000 gay and lesbian city workers, half feel they have to hide their sexuality, or their career may suffer. (Source: Out Now Consulting - Diva / GT Market Research)
Inside Out talked to Investment Bankers who are still in the ‘closet’. One, known as John, told us that he lost his job at MD level at a high street bank because he decided to come out.
“I made a deliberate decision [to come out]. I was getting tired of changing pronouns around my partner and so I came out to my boss. They made my job almost impossible to do. "Senior management would go out for dinner once a week and suddenly I dropped off the invitation list. Even though I could have taken them to court I chose not to because I thought I would never get a job in the industry again”.
Richard Burton is the most senior 'out' employee at Lehman Brothers, a global investment bank. (He is) a vice president in charge of 65 people, and head of the bank’s diversity programme.
“I decided I could not live a double life, investing so much in a career that could just melt away. The decision to come out was not taken lightly.”
But there is still a long way to go before homosexuals gain full equality. Perhaps in some areas the pink plateau has been raised, but it is difficult to find anywhere where it is truly absent.
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Out Now Consulting has 15 years experience in working in all facets of gay and lesbian marketing, including understanding gay and lesbian workplace diversity issues and how they affect companies targeting the gay market. To get expert gay and lesbian marketing communications, research and marketing strategy insight, with access to the leading expert gay and lesbian target marketing advice, lesbian and gay marketing expert input, all from the leading gay and lesbian community marketing experts: contact Out Now.
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