A Companion's Handbook on Empowering LGBTQ+ Thoughts to Influence Innovation
Hot Off the Press: LGBTQ+ Representation
The spotlight's on LGBTQ+ individuals, making up roughly 7% of today's populace, with about 20% of Gen Z identifying as part of this community. We're no longer the dismissed niche, but a mass market that's as essential as any other. In fact, the upcoming generation might just see us as inherent to the "general market."
Now, as non-LGBTQ+ individuals dominate our industry, they're starting to wonder, "What's my next move?" Yet, there's a segment of marginalized folks within the industry who've had enough of educating their oppressors about their own oppression.
Let's take a look at the current situation:
LGBTQ+ Representation in Focus
In our increasingly inclusive world, the demand for LGBTQ+ representation in media and corporate settings is on the rise. However, the reality is far from adequate. A 2019 survey found that only 27% of U.S. adults believed there's sufficient representation in movie and TV roles[1]. Meanwhile, platforms like Netflix have amped up the number of LGBTQ+ characters in their shows.
In the corporate world, LGBTQ+ individuals hold less than 1% of board seats in Fortune 1000 companies. But studies show that companies with LGBTQ+ board members outperform their counterparts in terms of financial returns and sustainability[2]. This signals a promising trend for corporate representation.
But what about the future?
The Future is Bright(er)
As societal attitudes shift and more companies embrace diversity and inclusion, the representation of the LGBTQ+ community is expected to continue growing. Key trends include:
- ** heightened expectations: 61% of U.S. adults believe brands should offer relevant benefits when representing LGBTQ+ individuals in advertising[1].**
- Demographic Shifts: Roughly 9.3% of adult Americans identify as LGBTQ+[3], fueling demand for representation in media and corporate settings.
Reactions Across the Industry
Non-LGBTQ+ individuals are responding to this shift in various ways:
- Supporting Inclusion: Many non-LGBTQ+ individuals and companies are champions of inclusivity, recognizing the benefits of diverse perspectives.
- Challenges and Criticism: Despite these efforts, resistance persists. Anti-LGBTQ+ sentiment remains, as highlighted by hate speech and incidents[5]. Some may encounter internal resistance or external pressure when advocating for LGBTQ+ representation.
- Rising Awareness: The increased visibility of LGBTQ+ issues has led to more conversation and education among non-LGBTQ+ individuals, fostering a more inclusive environment.
In conclusion, progress is being made, but there's still a long way to go before LGBTQ+ individuals are fully represented and accepted across all sectors.
In the evolving corporate landscape, there's an emphasis on diversifying business strategies to include more representation for the LGBTQ+ community, as this demographic represents a significant percentage of the general market, especially among Gen Z. For instance, companies with LGBTQ+ board members have been shown to have better financial returns and sustainability. Moreover, consumers expect brands to offer relevant benefits when representing LGBTQ+ individuals in their advertising, signaling a demand for diversity and inclusion in business.
