Progress Together, a government-backed organisation, has teamed up with Sheffield Haworth, a leading people consulting firm, to tackle the deep-rooted socio-economic imbalance in the financial services sector. This strategic alliance comes in response to the recent study commissioned by Progress Together and conducted by Bridge Group called Shaping Our Economy, which highlighted socioeconomic background is more likely to impact a person’s route to success in financial services than gender or ethnicity. This is because of a worrying lack of diversity within the workforce, particularly in senior roles, with 89% of senior leaders in these sectors hailing from higher socio-economic backgrounds. Individuals from lower or intermediate socio-economic backgrounds comprise only 11% of senior employees.
Progress Together, an initiative focused on addressing the socio-economic disparity within the financial services sector, now represents, via its partner members, a third of the financial services sector. Sheffield Haworth’s collaboration with Progress Together highlights Sheffield Haworth’s commitment to addressing this disparity by promoting inclusivity, diversity, and equal opportunities within the executive search and consulting industry.
Commenting on this collaboration, Frances Denny, Managing Director and Head of the Socio-Economic Diversity Group at Sheffield Haworth, expressed their commitment to driving positive change: “At Sheffield Haworth, we firmly believe in the power of diversity and inclusion. Our partnership with Progress Together underscores our dedication to creating a level playing field for everyone, regardless of their socio-economic background. Together, we are working towards fostering an industry that embraces and celebrates differences, leading to a more vibrant and innovative workforce.”
The collaboration between Progress Together and Sheffield Haworth will include a series of initiatives, including webinars, workshops, and training sessions designed to educate businesses about the significance of socio-economic diversity. These efforts aim to empower organisations with the tools and knowledge to implement best practices and create a workplace environment where individuals from diverse backgrounds can thrive.
Sophie Hulm, CEO of Progress Together, highlighted the importance of data-driven strategies in achieving real change: “Embracing socio-economic diversity is not just a moral imperative; it is also a strategic advantage for businesses. By leveraging socio-economic data, companies can identify areas for improvement and implement targeted initiatives to foster a more inclusive workplace. We are excited to work alongside Sheffield Haworth in this endeavour and drive meaningful transformation in the financial services”. The collaboration between Progress Together and Sheffield Haworth brings together their expertise and resources to improve socio-economic diversity and inclusion in financial services.
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Frances Wright
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f.wright@sheffieldhaworth.com
About Progress Together:
Progress Together is a not-for-profit membership body working to improve socio-economic diversity in financial services at senior levels. Progress Together is the output of the Government commissioned Socio-economic Diversity Taskforce, led by the City of London Corporation.
About Sheffield Haworth:
Sheffield Haworth is a global consultancy founded in 1993, known for its expertise in driving organisational change and fostering inclusive workplace environments. We have a history of placing executives in high-impact roles year after year, giving clients a competitive advantage in a fast-changing world. Sheffield Haworth specialises in executive search and interim, strategic research and advisory, organisation and leadership advisory, and organisation change management, with the aim to be the leading global consultancy in people and transformational change.
