But firstly WHAT IS SOCIAL MOBILITY?
Social mobility refers to the ability of individuals or families to move up or down the social and economic ladder within a society or between generations. It measures the extent to which people can improve their economic and social status, typically by achieving higher levels of education, income, or job opportunities than their parents and grandparents.
Social mobility is a concept that is often used to assess the openness and fairness of a society. A society with high social mobility provides relatively equal opportunities for advancement, regardless of their background, race, gender, or socioeconomic status. In contrast, a society with low social mobility tends to have barriers that make it more difficult for individuals to improve their social and economic circumstances, leading to greater income inequality and social stratification.
Social Mobility is a tangible measure of how accessible opportunities are for people from different backgrounds. In the context of recruitment, social mobility recognises that a person’s potential and talent should be the primary criteria for hiring, rather than their socio-economic background.
One of the key facets of social mobility in recruitment is gender diversity. It’s a critical issue that continues to shape the workforce and remains an important aspect of a companies corporate social responsibility. Gender diversity is not just about fairness; it’s about fully understanding that diversity drives better decision-making, enhances innovation, and improves a company’s overall performance. A McKinsey & Company report stated that “companies in the top quartile for gender diversity on their executive teams were 21% more likely to outperform their counterparts in terms of profitability.”
Equitable inclusivity goes hand in hand with social mobility. It means creating an environment where everyone has an equal opportunity to succeed regardless of their background, gender, race, or any other characteristic. This inclusivity is not only the right thing to do; it also makes good business sense. When employees feel valued, respected, and included, they are more engaged, productive, and committed to their employer.