It’s high time companies embraced what Pride Month encompasses beyond the month of June. Many are already doing this; some have a ways to go.

As Rachel Covello, CEO and publisher of OUTCOAST, stated in a recent LinkedIn post, “Pride is more than a parade or a party; it’s a declaration of our right to exist authentically, without compromise. It’s a space where we can embrace the full spectrum of who we are and support each other in our journeys. Each of us, with our unique stories and paths, contributes to the rich tapestry of our community. In celebrating Pride, we acknowledge and honor the fluidity and diversity that make us strong, resilient, and beautifully human.”

The global spending power of the LGBTQ+ community is $3.9 trillion, according to Covello. The demographic tends to have an affinity for travel and represents a growing market segment within the tourism and hospitality sector.

To me, it sounds like becoming a leader in LGBTQ+ equality is not just a moral imperative but also a strategic business advantage. Companies that build inclusive cultures can keep people happier, enhance their mental well-being, and support their careers, thereby attracting and retaining top talent, fostering innovation, and improving overall performance.

Does your company foster LGBTQ+ equality, both internally and externally? If not, here are just a few strategies your company can implement:

  • Provide inclusivity training. It’s essential that companies train their employees to work together with people of different backgrounds, races, abilities, sexual orientations, and more.
  • Embrace employee resource groups (ERGs). ERGs can help employees feel a sense of belonging where it otherwise might be missing — especially for historically marginalized groups.
  • Create safe and welcoming spaces. It’s crucial to provide an environment where your LGBTQ+ employees and customers feel safe and valued. Those spaces may look like gender-neutral facilities, lactation rooms, privacy rooms, and more.
  • Ensure inclusive representation in your marketing. Focusing on authentic messaging is key. How can you think from a global perspective and tailor campaigns for those who might not look or sound like you?
  • Look for partnerships. Demonstrate your commitment to this target demographic by engaging with organizations and participating in events that reflect and support the LGBTQ+ community.

By implementing some of these strategies, companies can become LGBTQ+ equality leaders, creating workplaces where all employees thrive, feel supported, and enjoy better mental well-being. This not only enhances a company’s reputation but also drives long-term success through a more engaged and diverse workforce.