DNB: Why inclusion drives performance
‘Inclusion is not a policy. It is a culture. And culture is built by all of us’, said Olaf Sleijpen at a meeting of central banks as part of the International Day Against Homo/Bi/Inter/Transfobia (IDAHOBIT). He talked about why diversity and inclusion makes organizations stronger, and what every employee can do to create a better workplace.
Good afternoon everyone,
I want to start with football.
Not because this is a sports conference, but because football teaches us something very important about people, teams, and performance.
Imagine a football team where every player is exactly the same.
Eleven goalkeepers.
Or eleven strikers.
Or eleven people all trying to be the captain.
That team would fail.
Not because the players lack talent, but because success depends on diversity of roles, perspectives, strengths, and personalities. Football works because different talents work together. And the workplace is no different.
One of the greatest Dutch philosophers and football thinkers of all time, Johan Cruyff, once said: “Quality without results is pointless. Results without quality is boring.” I think that quote applies perfectly to diversity and inclusion.
A company can deliver results without inclusion for a while. But eventually creativity drops, trust weakens, innovation slows, and people stop bringing their best selves to work. Real quality comes when people feel safe enough to contribute fully. And that includes LGBTQIA+ employees.
Today I want to talk about three things:
First, why LGBTQIA+ inclusion matters at work.
Second, why diversity makes organizations stronger. And third, what every employee — not just leadership or HR — can do to create a better workplace.
Because inclusion is not a policy. It is a culture. And culture is built by all of us. And becoming an inclusive organisation is a transition, not a finish line to be crossed. A transition implies making choices, every day anew. And by doing so, we will inevitably make mistakes. But what matters is the willingness to choose inclusive behavior, every day.
Let’s start with a simple reality. Most LGBTQIA+ people have experienced moments at work when they asked themselves: “Can I be fully open here?”
That question alone already changes behavior. People become careful. They edit themselves. They avoid conversations. They laugh at jokes they dislike. They hide pictures of their partner. They spend energy managing perception instead of focusing on performance. And let me be frank, I have also done this during my career. And even today, I sometimes choose the closet when I operate outside the walls of the bank.
Now imagine doing that every day. That is not only emotionally exhausting. It is also economically inefficient.
Companies and organisations talk constantly about productivity, innovation, collaboration, and talent retention. But people perform best when they feel psychologically safe. When they do not have to spend mental energy hiding who they are.
This is why LGBTQIA+ inclusion is not just a moral issue. It is also a business issue. Research consistently shows that diverse and inclusive organizations attract better talent, retain employees longer, make better decisions, and innovate more effectively. Yana Rodgers will actually elaborate on the positive macro-economic effects of inclusiveness later today.
Why? Because different perspectives challenge assumptions. And assumptions are dangerous in business. When everyone thinks alike, blind spots grow. Diversity helps organizations avoid becoming predictable.
Different backgrounds create better discussions.
Different life experiences create better results.
Different identities create better understanding of stakeholders and society at large.
And LGBTQIA+ employees bring perspectives that matter. Not necessarily because they are LGBTQIA+. But because lived experience shapes how people solve problems, build relationships, and understand the world.
Now, I want to be clear about something. Diversity alone is not enough. You can recruit diverse people and still create an environment where they feel excluded. In football terms: you can buy talented players, but if they never receive the ball, they cannot contribute. Inclusion means making sure everyone can participate fully. In other words: being respected, being heard, being promoted fairly, and being able to exist authentically without fear.
Sometimes people think inclusion only matters for minorities. But actually, inclusive cultures improve work for everyone. When people feel safe: collaboration improves, communication becomes more honest, and trust becomes stronger. People stop performing a version of themselves and start performing their actual work better.
And this brings us to the role employees can play.
Because inclusion is not created only by CEOs or HR departments. It is created in everyday moments. In meetings. In jokes. In conversations. In reactions. In silence. Every employee influences culture. That said, leadership does matter, of course. Not because they can enforce inclusion, but because they define by their behaviour what is normal and is important. Inclusion requires leaders to walk the talk. It is not what leaders say that makes an impact, but what they do and how they behave.
The good news is that small actions matter enormously. For example: using inclusive language, not assuming someone’s partner is male or female, correcting disrespectful jokes, supporting colleagues when they experience exclusion, or simply making people feel welcome.
These things may seem small. But culture is built from repeated small behaviors. Think about a football dressing room. A coach can give speeches about teamwork all day long. But if players mock one teammate constantly, trust disappears. The same happens at work. People notice what is tolerated. And silence sends signals too.
Now, some people worry that conversations about LGBTQIA+ inclusion create division. I actually believe the opposite. Inclusion reduces division because it creates belonging. And belonging is one of the strongest drivers of human performance.
Nobody wants to feel isolated. Nobody wants to feel invisible. Everybody wants dignity and respect.
This is not about forcing everyone to think the same. It is about creating professional environments where people can contribute equally.
You do not have to fully understand someone’s life experience to treat them with respect.
Unfortunately, the acceptance of LGBTQIA+ is declining. This is in particular true for all human beings who identify themselves as TQIA+ One of my role models, the first President of the ECB, Wim Duisenberg, once said “live and let live”. Let’s honour him by living up to these wise words.
Another important point: visibility matters.
When LGBTQIA+ employees see openly inclusive leadership, they understand something important:
“My future here is possible.” That’s why I don’t mind being a role model myself anymore, although it is not in my nature to be one. Being a role model is not always a choice. And I encourage you all to be role models in your organisation, whether you are a member of the LGBTQIA+ community or an ally. By being your authentic self, and hence give a colleague the courage to open up. And to grow, flourish and hence contribute more.
But perhaps the most important reason to support LGBTQIA+ inclusion is simpler than strategy, recruitment, or economics. It is humanity.
At the end of the day, workplaces are communities.
People spend huge portions of their lives at work. The workplace affects confidence, mental health, relationships, ambition, and wellbeing.
So we should ask ourselves: what kind of workplace do we want to build? One where people hide? Or one where people thrive? One where difference creates fear? Or one where difference creates strength?
Again, I return to Johan Cruyff. Cruyff transformed football because he understood that the game was not just about individual skill. It was about space.
Movement. Trust. Connection. The best teams succeed because players allow each other to play at their best. That is exactly what inclusion should do.
On one account football can learn from us, and here the analogy stops. And this is the inclusion of LGBTQIA+ players. There is probably no sport as homophobic as football, in particular – and interestingly enough – male football. So let’s hope for more players to come out of the closet. And not only when they retire. Because it will bring better results for their teams, and will be more fun. I am sure Johan Cruyff would agree.
Let me close with this. Diversity is not a challenge to overcome. It is an advantage to develop. And LGBTQIA+ inclusion is not merely about avoiding discrimination. It is about unlocking human potential. Every employee has the ability to contribute to that. Sometimes through leadership.
Sometimes through courage. Sometimes through empathy. Sometimes through something as simple as making another person feel safe enough to be themselves.
Small moments create culture. And culture shapes performance. The best workplaces, like the best football teams, are not successful because everyone is identical. They are successful because different people work together toward a common goal.
Thank you.