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London — Financial Services Companies should set "expansion targets" for appointing people from working-class backgrounds to senior positions, a report backed by the British government said Thursday.
The financial industry is already striving to include more women, blacks and ethnic minorities on boards and in positions such as chief executive officer and chairman, but socioeconomic backgrounds Targets for diversity have received little attention in corporate diversity efforts. of employees and found that the department does not fit in well with society.
According to the Task Force, 49% of seniors at all levels in the financial industry have a professional background, and for senior leaders he climbs to 64%. increase. Across the UK population, 37% of working people are from a professional background.
Socioeconomic background can amplify other inequalities, particularly related to ethnicity and gender, the report said.
Working-class employees who are also women or ethnic minorities are even less likely to hold senior positions and feel less included in the workplace. Only 13% of senior positions are occupied by white men from working-class families, while white men occupy 45% of senior positions compared to 23% of women.
The study defined the working class as those whose parents worked in routine, manual occupations such as receptionists, van drivers, plumbers, and electricians. I'm here.
In an already tight UK labor market, the exclusion of working-class people poses risks to employee retention and productivity, says the task force report. Says.
"This data provides a strong baseline for the sector to track progress in socioeconomic diversity and address gaps," said Catherine, who chaired the task force. McGuinness said.
"We urge companies to collect data, set growth targets, and ensure a level playing field for all."
The report encourages companies to join Progress https://www.progresstogether.co.uk Together, launched in May, and sets out best practice guides and benchmarks to drive change in socioeconomic diversity.
Accountants KPMG was one of the first companies in the UK to target staff from working-class backgrounds, narrow the pay gap and diversify its workforce.
(reported by Hugh Jones, edited by Jane Merriman)
