The LGBTQ+ community has been historically underrepresented in the pharmaceutical industry, making up a meager 3.8% of the workforce. This suggests there are serious systemic issues with the lack of recruitment, retention, and corporate outreach, creating participation barriers for those seeking employment. While acknowledging this is an important first step, solving it requires concrete action.
Diversity and inclusion dilemmas facing the pharmaceutical industry are nothing new and aren’t limited to sexual orientation or gender identity. There is evidence to suggest the industry is taking this issue increasingly seriously. 83% of pharmaceutical companies surveyed by the APBI now have a defined DE&I strategy in place.
However, the same report found that DE&I policies are not always inclusive themselves. They typically focus on too narrow a set of characteristics like gender and ethnicity, neglecting the
underrepresentation of other social groups like the LGBTQ+ community.
Putting Pride into Practice: Improving LGBTQ+ Diversity Deficit
Bridging the LGBTQ+ diversity gap is important, but successful initiatives must be authentic, aligned with an organization’s values, and show a genuine commitment to the causes they are championing. Businesses that put out token Pride Month posts once a year aren’t fooling anyone. There needs to be a yearround approach to earn credibility.
The same is true in recruitment. Nobody wants to be the token diversity hire; hiring someone just because they are a member of the LGBTQ+ community doesn’t achieve anything, other than acting as a mask for underlying issues. It is also insulting to the potential candidate, as they should be hired based on skill, talent, and experience not because they check the right box on a DE&I form.
Like all minority groups, the LGBTQ+ community is not homogenous. Examining the intersections of LGBTQ+ identities with race, ethnicity, and culture is important for truly inclusive representation. We need to ask ourselves some fundamental questions to address this: What are we trying to achieve by hiring more diverse people? How can we engage with the LGBTQ+ community to improve this? Are we using the right language and messaging to achieve this? How can we align our corporate culture and values more effectively to facilitate this? This will ensure a robust strategic approach to diversity is developed.
The Difference Diversity Makes
Research shows that higherperforming companies achieve greater commercial success through
being diverse. A study of 657 publicly traded U.S.¹ companies found that firms with LGBTQ+-friendly policies typically had higher profitability and higher stock market valuations.
Looking at problems through multifaceted lenses gives businesses a greater plurality of perspectives, leading to improved decisionmaking. Being successful in business requires developing a complex mindset, and greater diversity can help create the conditions needed for creative thought, giving companies a competitive edge.
Diversity isn’t about social engineering or a way for companies to feel better about themselves.
Improving representation is better for business.
