Invitation:
LAPFF Roundtable on Socio-Economic Diversity: 23 March @ 3pm (f you are an LGPS officer, pension committee or board member or an advisor please join us next week)
Dear
LAPFF members,
I
am writing to you to remind you of the Roundtable on Socio Economic Diversity,
that is being hosted by my colleague and vice-chair John Gray next week.
HM Treasury and
the Department for Business, Energy and Industrial Strategy (BEIS)
have commissioned the City of London Corporation to lead an
independent Taskforce on Socio Economic
Diversity in order to boost productivity and
levelling up opportunities for under-privileged communities. This taskforce is intended
to improve socio-economic diversity at senior levels in
UK financial and professional services and has a vision of
‘equity of progression’ – where high performance is valued over ‘fit’ and
‘polish’.
My colleague and vice-chair,
John Gray, was appointed to the advisory board of this Taskforce last year.
Since his appointment, he has been making valuable contributions on behalf of
the Forum to this body. The Taskforce has already held a number of roundtables
and interviews to try and understand how government, regulators and sector
bodies can create incentives for employer action in increasing socio-economic
diversity at senior levels in the sector. LAPFF members now have an opportunity
to join the dialogue and contribute directly to an industry consultation at a
roundtable discussion. Please do bring consultants or fund management contacts
along to join the conversation.
Also, another reminder that
LAPFF is asking member funds to reach out to these consultants and fund
managers to fill out a survey for
senior staff at financial organisations to anonymously share their
socio-economic background, level of seniority, and views on career progression.
Social mobility is an important issue for the UK and its economy. Research from the Bridge Group shows that employees from non-professional backgrounds progress 25 percent slower than peers, with no link to job performance. These employees report they are exhausted by efforts to conform to dominant cultures, which in turn impacts individual productivity. The Taskforce’s objective to drive forward successful businesses based on the view that people from all backgrounds can perform to their potential and have their abilities recognised aligns very well with LAPFF’s approach to diversity.
If you have any questions or ish to register, please direct them to Alistair.tucker@lapfforum.org
Best regards,
Councillor Doug
McMurdo
LAPFF Chair
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