Those from lower socio-economic backgrounds took on average 19% longer to progress through grades compared to those from higher socio-economic backgrounds. (Social Mobility Progression Report 2022: Mind the Gap, The Bridge Group for KPMG, 2022)
12%
Professionals from working-class backgrounds are being paid less than their more privileged peers in the same occupation, £6,291 – or 12% less – a year.(The Class Pay Gap 2023, The Social Mobility Foundation, November 2023)
3x
Adults in the UK with lower working-class parents are about 3 times as likely to be in a lower working-class occupation themselves (30%) as adults with higher professional parents (11%) (State of the Nation, Social Mobility Commission, September 2023)
How are we changing that?
Our initiatives
Power of Inclusion
Through our Inclusive pillar, we aim to increase opportunities for those from diverse socio-economic backgrounds to start, develop and progress their careers in the City of London.
We work with businesses across sectors to implement effective practices to address social mobility; support businesses to take an intersectional approach to social mobility; and support businesses to build inclusive cultures within hybrid working models.
A space to learn from colleagues in other industries and hear from speakers with similar challenges
Inclusive workplaces are more productive, commercially successful, and have a happier and more engaged workforce.
Through participation in the Power of Inclusion series, organisations collaborate for change, hear about innovative programmes that have already proven to be successful, and share lessons learned.
172 City business representatives attended the Social Mobility Workshop Series in 2023
70%
70% of attendees were very satisfied with the Social Mobility Workshop Series event they attended
100%
100% of attendees were likely or very likely to recommend Power of Inclusion to other organisations
"The Lord Mayor’s Appeal is multifaceted, it's multi-year and it's extraordinary in what it delivers. We at Janus Henderson are proud to be involved in Power of Inclusion.
Our purpose, ‘Investing in a Brighter Future Today’ very much fits with what you're doing. Our firm and our industry, though, is still not diverse enough, especially in the more senior roles. Given that the skills we seek come much more broadly in terms of identities, whether that be background, education, gender, geography, race, or sexual orientation; we need diverse skills and we need people to feel comfortable, confident and included. I think we're making progress, but we've got much more work to do."
Roger Thompson Chief Financial Officer Janus Henderson Investors
Power of Inclusion Breakfast: Building effective networks