Inclusiveness across socio-economic backgrounds and social mobility – EY

Recognizing Potential Beyond Traditional Socio-Economic Molds

Introduction

Individuals’ potential is often assessed through conventional frameworks, overlooking the diverse socio-economic backgrounds that shape their experiences and opportunities. Socio-economic factors, including family upbringing, education, and income history, significantly influence access to resources, networks, and career progression. This report emphasizes the importance of addressing these disparities in alignment with the Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).

Impact of Socio-Economic Backgrounds on Career Progression

• Barriers Faced: Social stigma and the pressure to conceal one’s background can lead to negative perceptions of capability and hinder authentic self-expression at work.
• Access to Opportunities: Limited access to networks and resources due to socio-economic constraints restricts career advancement.
• Social Mobility: Defined as the change in an individual’s socio-economic status over time, social mobility is crucial for fostering social cohesion and economic growth.

Global Inconsistencies and the Need for Action

Social mobility is unevenly enabled worldwide, necessitating a global dialogue and targeted initiatives to promote equity. These efforts align with SDG 10, which aims to reduce inequalities within and among countries. By integrating social mobility into broader diversity, equity, and inclusion strategies, organizations can drive meaningful change.

EY’s Commitment to Inclusive Growth

1. Embracing Diverse Perspectives: EY values the power of diverse viewpoints and encourages individuals to be authentic in the workplace.
2. Removing Barriers: The company actively works to eliminate obstacles that limit access to opportunities, supporting SDG 8 by promoting decent work and economic growth.
3. “All In” Strategy: EY’s strategic approach focuses on purposeful growth and creating value for employees and stakeholders through inclusivity.

Call to Action

Addressing persistent socio-economic barriers requires intentional actions to create significant positive impacts. Collaborative efforts can foster an environment where career progression is based on ambition and capability rather than background, contributing to the achievement of multiple SDGs.

Conclusion

By prioritizing social mobility and inclusivity, organizations and societies can shape a future characterized by confidence and equitable opportunity for all, in alignment with the Sustainable Development Goals.

1. Sustainable Development Goals (SDGs) Addressed or Connected

1. SDG 4: Quality Education
   • The article discusses the impact of socio-economic background on access to education and opportunities, highlighting the importance of inclusive and equitable quality education.
2. SDG 8: Decent Work and Economic Growth
   • It emphasizes social mobility and career progression irrespective of socio-economic background, which relates to promoting sustained, inclusive economic growth and productive employment.
3. SDG 10: Reduced Inequalities
   • The focus on overcoming barriers related to socio-economic status and promoting equity aligns with reducing inequalities within and among countries.
4. SDG 5: Gender Equality
   • While not explicitly mentioned, the broader diversity, equity, and inclusiveness efforts imply connections to gender equality and empowerment.

2. Specific Targets Under Those SDGs

1. SDG 4: Quality Education
   • Target 4.3: Ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university.
   • Target 4.4: Increase the number of youth and adults who have relevant skills for employment, decent jobs and entrepreneurship.
2. SDG 8: Decent Work and Economic Growth
   • Target 8.5: Achieve full and productive employment and decent work for all women and men, including young people and persons with disabilities, and equal pay for work of equal value.
   • Target 8.6: Reduce the proportion of youth not in employment, education or training.
3. SDG 10: Reduced Inequalities
   • Target 10.2: Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.
   • Target 10.3: Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices.
4. SDG 5: Gender Equality
   • Target 5.5: Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life.

3. Indicators Mentioned or Implied to Measure Progress

1. Indicators for SDG 4 Targets
   • Proportion of youth and adults with relevant skills for employment (Indicator 4.4.1).
   • Enrollment rates in tertiary education (Indicator 4.3.1).
2. Indicators for SDG 8 Targets
   • Employment-to-population ratio, by sex, age and persons with disabilities (Indicator 8.5.2).
   • Proportion of youth not in education, employment or training (Indicator 8.6.1).
3. Indicators for SDG 10 Targets
   • Proportion of people living below 50% of median income, by age, sex and persons with disabilities (Indicator 10.2.1).
   • Number of discriminatory laws, policies or practices (implied measurement for Target 10.3).
4. Indicators for SDG 5 Targets
   • Proportion of women in managerial positions (Indicator 5.5.2).
5. Implied Indicators
   • Measures of social mobility such as changes in socio-economic status over time.
   • Employee diversity and inclusion metrics within organizations.
   • Perceptions of socio-economic stigma and barriers in the workplace (qualitative indicators).

4. Table of SDGs, Targets and Indicators

Source: ey.com