(Bloomberg) -- The first country in the world to certify equal pay between the genders may soon introduce a “rainbow certificate” for LGBTQ workers.
The National Queer Organisation of Iceland and Reykjavik Pride have partnered with Nasdaq Iceland to create guidelines for companies on how to foster diversity and make the labor market welcoming for all kinds of people.
“We see that there is a will to show support, but this needs to go deeper than waving the rainbow flag once a year,” Vilhjalmur Ingi Vilhjalmsson, head of Reykjavik Pride, told Bloomberg. “Our vision is that companies could get a rainbow certificate similar to the equal-pay certificate.”
Iceland is considered a trailblazer when it comes to LGBTQ rights. It was the first country in the world to elect an openly lesbian prime minister, back in 2009, and regularly tops the rankings in terms of gay-friendly destinations. Yet a recent survey showed that many LGBTQ people still feel insecure in the work place.
Richard Taylor, who is based in San Francisco and organizes training courses on LGBTQ integration and diversity at Nasdaq, says workers are at their best when they are allowed to express their authentic self. Inclusiveness is also good for business, he said, citing studies that point to improvements in collaboration, customer focus and innovation.
Nasdaq Iceland plans to have the guidelines ready by the end of the year and has the backing of the country’s Finance Ministry.
“The greater the diversity the broader your perspective becomes,” said Magnus Hardarson, President of Nasdaq Iceland. “You get a lot more angles and you are probably also in a better position to appeal to a more diverse customer base.”
Nasdaq Iceland has since last year been cooperating with the country’s annual Gay Pride Parade. The 2020 edition is taking place in a reduced format this weekend because of the Covid-19 pandemic.
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