Championing Socioeconomic Diversity in the C-Suite: Stanton Chase London Joins Progress Together

We recognize that it’s the different layers of our identities that make us unique. We’re dedicated to promoting socioeconomic diversity.   

Recently, Stanton Chase London joined Progress Together, a UK government-backed organization that aims to combat socioeconomic inequality within the financial sector.

Progress Together’s latest Shaping Our Economy report illustrates the lack of socioeconomic diversity in leadership positions. Its key findings include:

• Individuals from higher socioeconomic backgrounds are over twice as likely to ascend to senior roles than working class women from ethnic minority backgrounds. 
• A fifth of senior employees are alumni of independent schools—a figure that triples the national average of 6.4%. 
• Half of all executive roles in the financial sector are occupied by white individuals from an upper socioeconomic background.  

According to a 2017 study, a small increase in social mobility (compared to the average across Western Europe) would increase the UK’s GDP by 9 percent, which would equal £2,620 per person, or £170 billion. But achieving this would necessitate that organizations foster social mobility within their executive teams and boards. 

Stanton Chase London’s collaboration with Progress Together is driven by the hope that we can enable more organizations to embrace socioeconomic diversity. This isn’t merely because diversity fuels growth and innovation, but because we believe that an individual’s career trajectory should not be defined by their socioeconomic status at birth. Talent should be recognized and defined by merit alone.  

At Stanton Chase, we’re not just filling roles, we’re breaking down barriers, and paving the way for talent from all walks of life to lead. 

Want to Learn How Your Financial Services Company Can Achieve Socioeconomic Diversity?

Eleri Dodsworth, a Partner at Stanton Chase London and Regional Functional Leader of Diversity, Equity, Inclusion, and Belonging for the EMEA region, explains how financial services organizations can achieve socioeconomic diversity in her latest article, Banking on Socioeconomic Diversity: Intersectionality in Financial Services Hiring. 

Click here to read it.