A new study from the Human Rights Campaign Foundation (HRCF) and Whistle Stop Capital has delivered the receipts: LGBTQ+ workplace inclusion isn’t just good ethics, it’s a smart, sustainable business strategy.
The analysis, based on 15 years of data from HRCF’s Corporate Equality Index (CEI), found that companies with stronger, long-term LGBTQ+ inclusive policies consistently outperform their peers in revenue growth, profitability, and market resilience. In other words? Investing in queer inclusion pays off, and not just in values, but in cold, hard numbers.
“Companies don’t grow by excluding talent or consumers,” said Meredith Benton, founder of Whistle Stop Capital. “Those with long-term high CEI scores are seeing the benefits of a virtuous cycle.”
The data doesn’t lie. Here’s what the numbers revealed:
- Stronger Revenue Growth: Over 15 years, companies with high CEI scores saw cumulative revenue growth that outpaced their less inclusive counterparts.
- Bigger Profits: Over a 10-year period, top scorers on the CEI reported average net incomes more than 8 times higher than low-scoring peers.
- Market Stability: Higher CEI scores were linked to steadier stock performance and greater investor confidence.
- Transparency Wins: Companies that publicly commit to inclusion, and back it up, signal accountability, and the market rewards that clarity.
“Fairness and inclusion power innovation and growth,” said Kelley Robinson, HRC President. “When businesses embrace LGBTQ+ equality, they’re positioning themselves to outperform, out-innovate, and outlast their competitors.”
This data comes at a pivotal moment. In a year where far-right politicians and anti-DEI crusaders have tried to undermine corporate inclusion efforts, the study arrives as a clear counterpunch. According to Monster’s May 2025 workplace report, only 50% of workers say their company’s LGBTQ+ policies have stayed the same under the current administration.
Yet the backlash isn’t landing. This year, shareholders at Fortune 500 companies voted down anti-DEI proposals 99-to-1. Major players like MasterCard, Costco, Marriott, and JPMorgan Chase have doubled down on their inclusion commitments.
“The consumer market is turning away from businesses that fail to demonstrate authentic, consistent support for LGBTQ+ rights,” the study notes, especially as 1 in 5 Gen Z adults now identify as LGBTQ+.
Locally, this should be a wake-up call and a challenge. Companies operating in Western PA need to understand: DEI isn’t a fad, it’s future-proofing.
Businesses that want to hire the best, reach new markets, and build lasting trust, especially among younger workers and consumers, need to back up the rainbow flags with real policy. It’s not enough to show up for Pride once a year. The CEI gives companies a clear roadmap for making it real: non-discrimination policies, benefits for LGBTQ+ employees, inclusive training, and accountability.
