Breaking the Class Barrier Event: Increasing socio-economic diversity at senior levels

 I am looking forward to attending this event. 

Breaking the Class Barrier Event: Increasing socio-economic diversity at senior levels

 Why should businesses increase socio-economic diversity at senior levels, and how?

What can government, regulators and sector bodies do to incentivise employer action?

Thursday 3 November 2022, 08:30-10:30 

Guildhall, Livery Hall, Gresham Street, EC2V 7HH 

 Join business leaders, industry bodies, regulators and government representatives from across UK financial and professional services to ensure that, together, we build a thriving sector, where talented people from all backgrounds can achieve their full potential.

Hear how, through committing to greater socio-economic diversity at senior levels, employers can boost access to talent, enhance reputation, and protect their license to operate - while promoting fairness and equity.

Come and hear more about the launch of two new reports offering businesses with the practical support and framework needed to boost socio-economic diversity at senior levels in UK financial and professional services. 

Together we can create a sector that attracts the best and most diverse talent and support their long-term success.

          Places are limited, so please RSVP here

The Socio-Economic Diversity Taskforce was commissioned by HM Treasury and the Department for Business, Energy and Industrial Strategy (BEIS) to boost socio-economic diversity in UK financial and professional services.

The Taskforce is the first of its kind and has a vision for equity of progression – where high performance is valued over ‘fit’ and ‘polish’

LAPFF Roundtable on Socio-Economic Diversity: 23 March

 

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

 

Socio-Economic Diversity Taskforce Networking Breakfast

 

This morning I had an early start to make my way to a "Networking Breakfast" at Mansion House in the City of London. This was the first such physical breakfast event I have attended since the start of the pandemic. Dispite the recent concerning news about the new Covid variant, Omicron, it was well supported.  I think at least 100 members of working groups or the advisory board attended. 

The Socio-Economic Diversity Taskforce is commissioned by the HM Treasury and led by the City of London. Check out more about the taskforce: https://lnkd.in/dUNYNtN #WhoGetsAhead "The City of London is leading a taskforce to boost socio-economic diversity at senior levels in UK financial and professional services"

I am a member of the advisory board on behalf of the Local Authority Pension Board Forum (LAPF) which represents nearly all UK Council Pension funds and Pools (some £300 billion of investments). 

It was good to hear from taskforce Chair Catherine McGuinness, and Co-Chairs @AndyHaldane, @Sandra Wallace, @VincentKeaveny and the Economic Secretary to the Treasury @JohnGlen

The Taskforce is carrying out a baseline survey and it is vital that enough employers fill out it out in order to get a robust survey. LAPFF will be encouraging all its funds managers and advisors to do so

Please complete this form. You can request also sample communications. Email socio-economicdiversity@cityoflondon.gov.uk if you can’t access Microsoft Forms or would like more information

The Taskforce have recently published its November newsletter, which features a podcast with the Lord Mayor. Please sign up to receive the next instalment and encourage your peers to sign up as well. The next edition will come out in January 2022. 

Final point is that the picture collage above does not really show how simply stunning Mansion House is, I have walked past the rather drab façade many times and did not realise what a treasure lies inside. 

I hope in the future that the Taskforce will bring about change and result in more young people from places such as Newham, visiting Mansion House in their own right as City of London professionals. 

Hat tip to the Corporation for photos.