New index to showcase firms’ social mobility is launched

Britain’s top businesses will be ranked for the first time on how open they are to employing talent from all backgrounds under a joint initiative announced this week by the Social Mobility Foundation and Social Mobility Commission.

The Social Mobility Employers’ Index gives firms the opportunity to showcase the progress they are making towards improving social mobility, by ensuring they recruit the best people for the job – regardless of their social background.

Research has consistently shown that people from more affluent backgrounds, who attend private schools and elite universities, take a disproportionate number of the best jobs.

To take part, firms will answer a range of questions about their practices and procedures in areas such as recruitment, selection and progression. They will be ranked by a panel of experts and receive recommendations for areas for improvement.

The index is considered an important benchmarking initiative, targeted at ‘elite’ sectors which, traditionally, have low rates of social mobility – such as law, accountancy, media, banking and finance and the sciences. Its purpose is to encourage firms to compete to remove hurdles to find the best and brightest candidates – whatever their background – and to reveal which sectors and companies are taking the issue of social mobility most seriously.

The stand-out performers in each category and firm that has most improved its approach will be announced in Spring 2017– along with the final rankings.

David Johnston, Chief Executive of the Social Mobility Foundation, said: “Having competed to make progress in other areas of diversity such as gender, race and LGBT, businesses have been turning their minds to how to make their organisations open to top talent from lower socio-economic groups.

“This Index is a direct response to their requests to know how to benchmark the actions they take against what the leading firms are doing, and learn how they can ensure they recruit and promote those with the greatest potential, rather than those with the greatest connections or polish.”