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New report, The Business Case for Social Mobility, highlights the moral and strategic importance of social mobility for UK SMEs, based on research in North West England.
By 2035, the UK faces a perfect storm: a shrinking workforce, declining educational outcomes, and widening regional and skills inequalities. These challenges will disproportionately impact rural and lower-income communities, where access to qualifications and career opportunities is already limited. Employers who fail to adapt may struggle to attract and retain skilled workers, jeopardising their future success.
Despite recognising the importance of social mobility, many SMEs feel ill-equipped to take action. Time constraints, uncertainty about how to engage, and industry norms that discourage non-traditional recruitment create significant hurdles. Furthermore, there is a prevailing belief that social mobility initiatives are primarily charitable rather than commercially viable.
Huma Kiyani, a member of EY Foundation's Youth Advisory Board said:
As someone who’s benefited from social mobility programmes, I’ve seen how powerful it is when employers genuinely commit to social mobility. My understanding has grown from seeing it as a way to help young people access opportunities, to recognising it as a long-term investment in diverse talent and innovation. For us, it’s a real sigh of relief because it shows we’re seen, understood and supported. We’re not having to constantly prove we’re worthy at every step. With that support, our progress continues to advance, giving us the space to build our skills and confidence without constantly battling unseen barriers.
To address these challenges, the EY Foundation works with over 300 employers each year to deliver high-quality employability skills training, paid work experience, and mentoring to young people eligible for Free School Meals. Leveraging insights from our programmes, we support our employer network in exchanging best practices, fostering cross-sector engagement, and driving greater accountability.
One of our key priorities is to create a fairer labour market by enhancing social mobility and fostering a more socioeconomically diverse workforce. This requires employers to adopt inclusive recruitment, progression, and retention practices, which not only bridge skills gaps but also unlock the potential of diverse talent.
In our latest report produced by Groundswell Innovation, we address the pressing need for UK small and medium-sized enterprises (SMEs) to view social mobility as both a moral responsibility and a strategic business opportunity. Through qualitative research with companies in North West England, we outline the economic risks of inaction, identify barriers to engagement, and showcase the tangible benefits and actionable steps taken by socially responsible organisations.
Lynne Peabody, CEO of the EY Foundation, commented on the report:
This research highlights the vital role that SMEs play in driving social mobility. By embracing inclusive practices, not only can they contribute to a fairer society, but they can also unlock new opportunities for growth and innovation within their own organisations.
The research reveals that companies embracing inclusive recruitment and supporting local talent from lower socioeconomic backgrounds experience a range of benefits. These include enhanced employee engagement, improved company reputation, and access to a broader talent pool.
Key Insights and Recommendations
Size doesn’t define engagement: Best practices in social mobility are not solely determined by company size; smaller firms can lead the way.
Leadership commitment is crucial: Senior leaders must champion social mobility to drive meaningful change within their organisations.
Robust evidence is needed: Improved data collection and long-term monitoring are essential to establish clear links between social mobility initiatives and business benefits.
Impact doesn't rely on resource scale: Effective social mobility initiatives can be executed with minimal resources, demonstrating that substantial investment is not always required.
As Ife Obasa, a member of EY Foundation’s Youth Advisory Board emphasises:
The research is clear, engaging with people from a range of socioeconomic backgrounds brings fresh thinking, lived experience, and resilience into the workplace. Organisations that prioritise social mobility, regardless of their size or resources, gain a strategic advantage. This effort starts with intention, from how you write your job descriptions to how and where you market roles. When organisations widen the gate instead of lowering the bar, they unlock untapped potential and create more equitable opportunities for all.
As we move forward, collaboration among employers, brokerage organisations, and policymakers is essential to close the opportunity gap through social mobility initiatives.
For further insights and to explore how your organisation can make a difference, download the full report below.