Those rating inclusion experience as poor less likely to stay: EY report
Gen Zs in the United States gave their employers a "less favourable" score of C+ when it comes to their LGBTQ+ inclusion efforts, in a stark warning to organisations that they need to improve or risk losing their appeal to the younger generation.
The 2024 EY US LGBTQ+ Workplace Barometer surveyed 500 members of the community in a bid to determine their overall sentiments about their employers' inclusion efforts.
Approximately 20% of the respondents are Gen Zs, and the report found that they are three times more likely than the overall group to feel unsure about their employer's efforts focusing on LGBTQ+ employees.
"In addition, while survey respondents from every other generation gave their employer a grade of B for LGBTQ+ inclusion efforts, the average grade given by Gen Z participants was less favourable, a C+," the report read.
Among those who rated their workplace experiences poorly, only 38% said they are likely to stay in the organisation for the next year.
On the other hand, those who gave high ratings to their employers are 2.6x more likely to stay with their employer for another year, according to the report.
The findings indicate that overall sentiments on inclusion efforts signal employees' intent to stay, and employers who don't work on them would risk losing the appeal to the younger workforce.
"Company leaders should remain steadfast in their commitments to diversity, equity and inclusion, cultivate an environment where people feel comfortable to be themselves and offer the right resources so employees can thrive," said Mitch Berlin, EY Americas Vice Chair - Strategy and Transactions and Americas Executive Sponsor of Unity, the EY LGBTQ+ Business Resource Group, in a statement.
According to the report, leading practices that employers can implement include:
"Through listening, learning, offering support and taking action, leaders will build trust and credibility, which in turn can help their organisations stand out with a powerful and growing segment of the population," said Leslie Patterson, EY Americas and US Diversity, Equity and Inclusiveness Leader, in a statement.
