Goldman Sachs Is Asking Job Applicants If They're LGBT
Goldman Sachs is giving job applicants the opportunity to come out as LGBT in an effort for the company to hold itself accountable in its hiring practices.
After the typical questions about a job applicant's gender and race, Goldman Sachs(GS, +1.72%) asks candidates to indicate their sexual orientation via a drop-down menu including the choices bisexual, gay man, gay woman, heterosexual, lesbian, other, and "prefer not to say." Following that, the application also queries: "Please indicate if you identify as Transgender."
Goldman's questions—neither of which typically pop up in polite conversation—may seem shocking at first. But it has a reason for asking.
"We ask for this data because we want to keep ourselves accountable," says Anilu Vazquez-Ubarri, Goldman's chief diversity officer and global head of talent. In other words, she says, the bank wants to make sure it is not unfairly discriminating against LGBT applicants.
So how does identifying as LGBT affect applicants in the hiring process? Goldman shares:
But Goldman, whose benefits package covers sex reassignment surgery, decided to start measuring its own LGBT inclusivity roughly a year ago. Its method is similar to that of the commission: First, it asks candidates to self-identify. Then, it removes the data from the resume and interview process. Finally, after the hires have been made, Goldman checks if the proportion of LGBT applicants is reflected in the eventual group hired.
While the bank isn't seeking to hit a specific target at the moment, it is hoping to increase its percentage of LGBT employees, which it plans to track on a monthly, quarterly, and annual basis.
"It is a competitive market. If we don’t do that outreach, it is possible that we have left the best candidate on the table," says Vazquez-Ubarri. The bank also actively reaches out to LGBT groups on university campuses in a bid to bolster its diversity. "Hopefully, this will become a part of what everyone does."
What do you think of the methodology and the rationale behind it??