Why focus on socio-economic background?

Why focus on socio-economic background?

Competitive advantage

Raise your game. Employees from a lower socio-economic background perform at least as well as their more advantaged colleagues, and often outperform them. In professional service firms, for example, trainees from lower socio-economic backgrounds are more likely to achieve the highest performance. 

Why restrict your talent pool? Diverse workforces give you access to a wider recruitment pool. You may also benefit from higher employee engagement and lower turnover. Greater diversity could make you a destination employer for the high-performing individuals that will drive your success in the future.

Work on your image. People want to see people who look like them, and they want to work for a business with a purpose. Building a visibly diverse workforce signals a commitment to inclusion and improving society. Companies interested in the long term recognise the benefits of this for their reputation and image.

The next frontier

Recent years have seen a drive to increase diversity in businesses. So far, these efforts have focused primarily on gender and ethnicity. However, forward-looking companies across industries are now looking at how to increase socio-economic diversity as part of this thriving agenda.

The socio-economic backgrounds of people in professional jobs From a professional background From a working class background

An untapped opportunity

Individuals from lower socio-economic backgrounds are a positive asset to businesses, but they are under-represented in professional occupations. People whose parents held professional jobs are more likely to be in a professional job themselves. Likewise, people from professional backgrounds are three times more likely to move
to London where the greatest concentration of professional jobs exists. However, larger employers are increasingly recognising the benefits of shifting this pattern, and are targeting the UK’s social mobility ‘coldspots’ to benefit from talent that exists there.

The power gap: the percentage of privately educated people in leading UK roles People attending independent schools Privately educated people in leading roles

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Latest news and blogs

Social Mobility Data Masterclass – why you need to #AskTheQuestion

In our recent Social Mobility Data Masterclass, we explored the importance of collecting data on employee’s socio-economic backgrounds for creating effective diversity and inclusion strategies. You can watch the recording of the Social Mobility Data Masterclass here. We were joined by Andrew Young, Workforce Diversity Lead at the BBC; Cliff Sale, Social Mobility Programme Lead, […]

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Opportunity: Could you be the next Chair of the Social Mobility Commission?

06/05/2021

We are looking for our next Chair to make the case for #SocialMobility in England and hold the government and other leaders in the public sphere to account.

This week the Equalities Hub in the Cabinet Office has begun recruitment for a new Chair of the Social Mobility Commission (SMC). The chair will lead the SMC in promoting social mobility both within and outside Government, oversee work to strengthen the evidence base and improve public understanding of how opportunity is created and made accessible to all.

HOW TO APPLY
Applications are open from now until 11 June 2021. If you’re interested in becoming our next chair, or know someone who would be, you can find all the details needed to apply here ➡ https://lnkd.in/dNvvQZE

ABOUT US
The Social Mobility Commission exists to create a United Kingdom where the circumstances of birth do not determine outcomes in life. We are an advisory non-departmental public body that has become the responsibility of the Cabinet Office. Read more on the work we do here ➡ https://lnkd.in/dC4aMnZ

#SocialMobility #SocialMobilityCommission #Opportunity

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