MyKindaFuture has partnered with PWC and Deloitte in a new task-force launched by The City of London to tackle the lack of socio-economic diversity within the financial and professional services sector.
The task-force will be reportedly launched alongside new research by the Bridge Group, which found that almost nine out of ten senior roles in financial services are held by people from higher socio-economic backgrounds.
MyKindaFuture said it will address the “lack of socio-economic diversity” by leading an industry consultation on how government, regulators and sector bodies can “incentivise” firms to take action.
The group said it will also create a “membership body” for financial services where employers can “benchmark” against each other and share best practice on delivering socio-economic diversity at senior levels.
Additionally it will produce a “productivity analysis” to build the business case for increasing socio-economic diversity at senior levels in financial and professional services.
The research from Bridge found that individuals from lower socio-economic backgrounds commonly felt they must “assimilate” to upper socio-economic culture, resulting in an impact on general productivity and general well-being, which in turn may have negative implications on their work.
Simon Reichwald, strategic lead for talent at MyKindaFuture, said: “At MyKindaFuture we are passionate about supporting overlooked talent to both secure quality employment and then progress within their chosen career, and we understand the huge business benefits that a diverse talent pool can deliver.
“We are thrilled to have been selected by City of London to support its new social mobility task-force, and are confident that the membership organisation we help build will have the power to bring about real, meaningful change in the financial and professional services sector and beyond.”