A significant number of individuals still encounter hurdles in career advancement due to their socioeconomic status.
- According to recent findings, 70% of those from lower socioeconomic backgrounds face challenges in accessing career or educational opportunities.
- Many young individuals feel pressured to hide their background, highlighting ongoing stigma related to socioeconomic status.
- Key barriers include the lack of financial aid, low confidence, and restricted networks crucial for career growth.
- There’s a call for government and business action to promote diversity and improve social mobility.
Co-op’s research indicates that a substantial portion of people, specifically 7.4 million, are missing out on career opportunities due to their socioeconomic background. The need for improved social mobility is evident, as 70% of people from lower socioeconomic backgrounds face significant barriers to accessing career or education opportunities.
The study highlights a concerning trend among younger generations, with 27% feeling compelled to hide or diminish their background during job interviews or at work. This pressure is even more pronounced among those aged 16-34, with 82% feeling the need to conceal their background, and 39% having done so. This stigma around socioeconomic status significantly impacts their confidence and opportunities.
Further findings reveal the economic benefits of addressing these barriers. Improving social mobility could add £200 billion to the UK’s GDP over the next decade. Co-op and Demos advocate for decisive action from the government and businesses to enhance social mobility, emphasizing its economic and moral importance.
The study by Co-op identified several barriers faced by those from disadvantaged backgrounds. These include a lack of financial support for further education (21%), low confidence in certain work environments (19%), high costs associated with relocating for better opportunities (17%), and limited access to unpaid internships or work experience (14%). Challenges also arise from growing up in under-resourced regions (13%), restricted access to career advice or mentorship (10%), and limited professional networks (9%).
Additional obstacles include the cost of attire suitable for interviews or work (9%), lack of relatable experiences with colleagues (6%), and recruitment biases based on socioeconomic status (6%). These barriers prevent talented individuals from progressing in their careers, contributing to a persistent lack of diversity at higher employment levels.
Personal stories, like that of Ishitha Islam, a 21-year-old from London, underscore these challenges. Ishitha notes the difficulty in fitting into prestigious organisations due to a lack of representation in leadership. She emphasises that improving social mobility offers mutual benefits, such as increased creativity and broader representation in business.
Claire Costello, Co-op’s Chief People and Inclusion Officer, described the findings as a wake-up call. She stresses that many individuals are held back solely due to their background, advocating for the recognition of socioeconomic background as a protected characteristic under the 2010 Equality Act. This move could ensure protections against discrimination, fostering a more inclusive work and educational environment.
The research follows the Social Mobility Commission’s State of the Nation Report 2024, which highlights that young people from higher professional backgrounds are significantly more likely to pursue degrees and secure high-level roles compared to their lower working-class peers. The growing gap in social mobility signals an urgent need for policy changes and concerted efforts by businesses to ensure equal opportunities for all.
The findings highlight the urgent need for targeted policy changes and increased efforts from businesses to address and dismantle the barriers affecting social mobility in the UK.
