Big Banks Among Most LGBT-Friendly Workplaces

They may be vilified for debit card fees and shoddy mortgage loans, but big banks are among the most LGBT-friendly places to work, a new study finds.

Bank of America, JPMorgan Chase, Citigroup and Wells Fargo are among the nearly 200 business that received a 100 percent score in the Human Rights Campaign's Corporate Equality Index -- a yearly survey, which evaluates the relative LGBT-friendlyness of companies based on a variety of factors, including their benefits offerings and engagement with the LGBT community. The financial sector ranked higher than many others, according to the survey, including retail and health care.

When the HRC began conducting the survey a decade ago, only 13 companies got a top score. Nearly 90 percent of the businesses in the study offer domestic partner health benefits and more than one-third provide a transgender-inclusive health insurance plan. The number of Fortune 500 companies offering domestic partner benefits has increased 75 percent since 2002, the study found.

"American business understands that LGBT-inclusive workplace policies are the right thing to do as well as good business practices," HRC President Joe Solmonese wrote of the survey's findings in a blog post for The Huffington Post.

Recently some companies have found that enhancing domestic partner benefits may be one way to recruit and retain workers. Facebook, Google, Barclays and other companies reimburse employees for the extra costs they incur when their partners receive domestic partner benefits, according to HRmorning.com. Employer-provided health benefits for domestic partners are counted as taxable income.

And it's not only the private-sector that's realized the potential recruitment and retention boost that can come from creating an LGBT-friendly workplace. Though the federal government is not allowed to provide domestic partner benefits to its employees, state governments that offer domestic partner benefits, among others, have experienced lower voluntary turnover, according to the Pew Center on the States.

Here are the some of the companies that received the top score in the CEI survey:

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Comments

[cadawa]

09:13 PM on 12/18/2011

That's no reason to let them run the country.

[teachone]

04:20 PM on 12/12/2011

Ed Baker below, go take a flying leap!!!!! Every American has a JUSTIFIED RIGHT to state the facts about these crooked banks; Wells Fargo, BOA , JP Morgan Chase, etc. anytime they please and it is not they who have made these banks look bad, BUT THE CORRUPT BANKS AND WALLSTREET THEMSELVES-WITH THEIR OWN ACTIONS!!!!!!!!!!! As well, you constantly come onto the Huffington Post doing the very thing you accuse others of (HYPOCRIT), by demonizing our federal government and the people of this country, which offends me, as I used to be a government employee (IRS) and offends all those who use this blog!!! So, why don't you take your HATE SPEECHES and SHOVE them and while you are at it, go find a place to play with your friends on your republican/teaparty blogs, "your kind" are NOT welcome here, nor do you have the intelligence or moral character of those who frequent this blog..GO AWAY!!! As well, I would suggest every person on this site flag this blogger as abusive!!! Merry Christmas Ed!

[Ed Baker]

11:07 AM on 12/12/2011

Yes, Wells and B of A, and Chase, are demonized in these pages daily. They are actually quite supportive of what the DNC says are its objectives. Not only do they all have diversity as a goal for their workforce - but they've financed urban renewal projects and taken great risks to better the lives of poor people.

Warren Buffet is a major shareholder of B of A - perhaps he should think of what the left is doing to his companies when he hands out campaign contributions?

[iskra]

03:29 PM on 12/12/2011

They are. I'd question whether that was due to diversity rules by gov that prevent doing business with organizations that do not meet diversity goals or it was by design.

[Ed Baker]

03:46 PM on 12/12/2011

The government has no diversity goals. Further, gay people are not even recognized by the federal government in any way shape or form. It is still legal to be fired from a federal job just for being gay. In many states, it's still legal to fire someone based on sexual orientation as well. The Supreme Court struck down racial quotas decades ago.

See Bakke v. Regents and United Steelworkers v. Weber.

[darlenebonny]

10:07 AM on 12/12/2011

Maybe we count better than other people.

[Andrew Banks]

08:31 AM on 12/12/2011

Doesn't matter that the companies are "gay friendly" its the people who work for them is what really matters and how they treat their gay coworkers!

[Ed Baker]

11:08 AM on 12/12/2011

In the 1980's when it was dangerous to be out - I worked for a major bank. I'm gay. It was a great place to work. I have gay friends in nearly every major banking institution in the country.

[Dolmance]

02:43 AM on 12/12/2011

Sweet, however these companies bankroll politicians who are decidedly anti gay and who will do anything to make the lives of LGBT people as miserable as possible.

[Ed Baker]

11:09 AM on 12/12/2011

In 2008 they gave much more money to the DNC. Until the DNC decided they could get more votes by demonizing them.

Warren Buffet is a major share holder of B of A - perhaps he could think of what HP does to his company everyday when he hands out campaign contributions?

[Parkside1978]

02:14 AM on 12/12/2011

What about minorities? Here where I live blacks, hispanics, and latinos, rarely get hired to work in the banking industry. (Mid-West). What's up with that? They want our money but, we're not good enough to work for them. Even with a degree.

[Ed Baker]

11:10 AM on 12/12/2011

All the major banks have diversity as a goal for their workforce, and when they can get qualified minority candidates, they hire them.

Walk into any Wells, B of A, or Chase office in Los Angeles.

[ohhuffno]

10:51 PM on 12/11/2011

Nope, I call BS on this

[bejayech]

10:30 AM on 12/12/2011

It's an inconvenient truth for the left, no doubt.

[Ed Baker]

11:12 AM on 12/12/2011

Sorry - its true. I've worked in finance for over 20 years and I've worked for just about all the major institutions. I'm gay. I know gay people in just about every major financial institution in the country as well.

But you're claiming the HRC - the largest gay right lobby in the country is lying?

[lovingthismoment50]

10:38 PM on 12/11/2011

It's a bad time to be a bigoted homophobe. It gets worse for them every single day. I can't wait until they will be the ones who are forced to stay in the closet with their pathetic, flawed opinions!

[PDXTransplant]

10:33 PM on 12/11/2011

Yes, big banks are the equal opportunity business they will sc rew over any and all.

[bikerdude]

08:14 PM on 12/11/2011

Says something about the morality of these folks??? Keeping there playthings nearby? This is probably abusive, but both the money makers and the LGBT community align with the selfishness.

[TheEmptyMonty]

12:37 AM on 12/12/2011

What the hell are you even talking about?

[rockysparks]

06:53 PM on 12/11/2011

Big Business, whose donations fund a lot of political campaigns, gets it. So why don't homophobic politicians? Could it be because they're influenced by S A T A N ??????!!!!!! Bwuahhahahhahahahahahahahaaa ...

[jflorish]

06:10 PM on 12/11/2011

Heh no positive articles allowed on HP.

Must .... be ........... negative. lol

[Seattlelite]

05:34 PM on 12/11/2011

It's going to take allot more than that for Stank of American to repair their reputation.

[Ed Baker]

11:15 AM on 12/12/2011

Yes, it's such a waste for them to have financed all those urban renewal projects too - they should quit. The left will demonize them for votes anyway.

I hope they don't quit being supportive of the gay community though. I have gay friends in all the major institutions, and I'm a gay person myself, and have worked for most of them in my decades in the financial field.

Warren Buffet is a major share holder in B of A - perhaps he should think about what HP is doing to his company when he hands out campaign contributions.

[SCJohnson]

04:39 PM on 12/11/2011

Some banks are so Gay Friendly that the non-gay need not apply

[Ed Baker]

11:15 AM on 12/12/2011

Oh please - there simply aren't enough gay people anywhere to staff an entire bank.

[bikerdude]

01:55 PM on 12/12/2011

That is something you may want people to believe, but it ain't true.