Also, I believe that other policies at Exxon foster a culture that represents LGBT individuals as second-class citizens. For example, the company refuses to offer extended benefits to same-sex couples unless they are required by law to do so. In fact, when Exxon acquired Mobil in 1999 and XTO Energy in 2009, it eliminated the LGBT protections and benefits offered by those companies.
If these moves don’t send a message that Exxon has little interest in preventing discrimination against LGBT employees, I don’t know what does.
The Foolish takeaway
For these reasons, I believe shareholders have a financial incentive to continue pushing for better LGBT protections at Exxon. I also think investors thinking about purchasing the stock should consider how Exxon’s failure to make these changes may affect its long-term ability to compete effectively with industry peers.
The article Exxon’s Employment Policies Are Bad for Business originally appeared on Fool.com and is written by M. Joy Hayes, Joy.
Motley Fool contributor M. Joy Hayes, Ph.D. is the principal at ethics consulting firm Courageous Ethics. She has no positions in any of the stocks mentioned. Follow @JoyofEthics on Twitter. The Motley Fool recommends Chevron.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.