Did you know that in the past 10 years, the percentage of Fortune 500 companies offering domestic partner benefits (DPB) to lesbian, gay, bisexual and transgender employees jumped from 34% to 60%? Not lost on them, surely, is the fact that there’s a legitimate business argument for offering equal rights to all employees, regardless of sexual orientation, and for fostering diverse workplaces. In the latest issue of Compensation & Benefits Review, Cynthia L. Cordes of the University of Miami educates us on “The Business Case for Offering Domestic Partner Benefits“:
The lesbian, gay, bisexual, transgender population represents a large, talented group of potential employees. The dilemma for many employers is how this population should be recognized or accommodated, if at all…
…Costs of offering DPB are offset by significant and meaningful tangible and intangible benefits. These encompass employer reputation and thus enhanced ability to compete effectively for talent and assorted individual and organizational outcomes attributable to these individuals.
Follow this link to read the full article in Compensation & Benefits Review, and this one to learn more about the journal. Do you want to receive the latest management research in your inbox? Click here to sign up for e-alerts!