Companies urged to harness talent at all income levels

Organisations need to tap into talent from all income backgrounds in order to boost innovation and profitability, according to new findings. Alexander Mann Solutions is warning firms that a lack of diversity could be seriously harming a business’ ability to generate revenue, as statistics reveal that not enough is being done to encourage social mobility.

The Social Mobility Forum has suggested many from working class backgrounds are being snubbed for top positions by those with higher incomes. The Forum revealed that just 4% of doctors and 6% of barristers are from lower income families, while up to 70% of professional service recruits come from private and grammar schools. These figures are worrying to both the Forum and Alexander Mann Solutions, who believe that social mobility can provide a clear competitive edge and kick-start innovation.

Former Deputy Prime Minister, the Rt Hon Nick Clegg MP will be giving a keynote presentation at an event in association with the Social Mobility Forum and Alexander Mann Solutions in order to tackle the taboo and support engagement of young people from low income backgrounds. Also featuring a panel discussion between experts and leaders, the event hopes to explore what needs to be done to help social mobility and cause a “measurable difference” to families, companies, and the UK economy.

“By continuing to fish in familiar pools, decision makers risk missing out on a wealth of prized talent,” said Tim Campbell, head of client services and emerging talent at Alexander Mann Solutions. “Forward thinking companies are improving pipelines from this under-utilised group by taking a second look at existing communication channels, reassessing entry criteria and redeveloping assessment methods to focus on core competencies and potential rather than experience.

“While the vast majority of organisations now monitor and benchmark data around gender and ethnicity as part of strategies to increase inclusion, true diversity lies in a workforce which offers a spectrum of ideas and experiences.”