Ellen. Anderson Cooper. Michael Sam. All three broke barriers by coming out in their respective industries - comedy, television news, and football. Now they're joined by Apple CEO Tim Cook, who just announced that he's ' proud to be gay' and, in the process, became the first Fortune 500 CEO to come out. Earlier this year, two CEOs of publicly traded - yet much smaller - firms came out. But until Tim Cook's statement, 'don't ask, don't tell' reigned at the highest echelons of corporate America - almost shocking in 2014, given that 91% of Fortune 500 firms prohibit discrimination based on sexual orientation.
As Cook notes, Apple has long taken a corporate stand in support of LGBT rights and has spoken up against discriminatory laws. But his announcement gives new heft to their commitment. Cook's sexuality was long an open secret; as he acknowledges, 'For years, I've been open with many people about my sexual orientation. Plenty of colleagues at Apple know I'm gay, and it doesn't seem to make a difference in the way they treat me.' But it creates a sort of cognitive dissonance when a company is advocating for equality, yet its leader remains publicly quiet about his own identity.
Cook's new openness shows that Apple is walking its talk on diversity - positioning them even more favorably in the never-ending Silicon Valley talent wars. It's also likely to make him a more effective CEO. As Sylvia Ann Hewlett and Karen Sumberg reported in the Harvard Business Review, despite fears to the contrary, being out in the workplace actually has significant advantages - notably, that workers can concentrate on excelling at their jobs, and not 'managing' their identity. (And remember, there are still 29 states where it's legal to fire someone because they are gay.)
Indeed, even for those like Tim Cook, who was out to colleagues but not to 'the world' at large, the stress of downplaying one's identity can take a toll. Research by the Deloitte University Leadership Center for Inclusion showed that 83% of gay employees 'covered' at work - i.e., even if they were technically out, they still felt the need to minimize their differences by, for instance, not bringing their partner to work functions, or not displaying family photographs at the office. Cook's coming out demonstrates powerfully to executives at Apple - and elsewhere in the corporate world - that covering is no longer required to succeed at the top.
'I consider being gay among the greatest gifts God has given me,' says Cook, because it's increased his empathy toward others and helped him learn to follow his own path - an important asset in a company that prizes innovation and built its brand on the strength of breakthrough ideas such as the iPhone.
'We'll continue to fight for our values,' he says, 'and I believe that any CEO of this incredible company, regardless of race, gender, or sexual orientation, would do the same.' That's probably true, but it means a great deal for Apple, and the many companies who hope to emulate its success, that Cook is willing not just to speak up for equality in general, but also to stand up and be counted.
Post By http://blogs.hbr.org/2014/10/why-tim-cooks-coming-out-matters-to-apple-and-to-business/
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