Work and wellbeing  

How financial services can help develop social mobility

  • To list ways that a lack of social mobility can be manifested
  • To be able to summarise programmes that can help create a strategy to boost social mobility
  • To explain how financial services companies can get involved
CPD
Approx.30min

Ajulu-Bushell says that her firm do a lot of work developing confidence and overcoming imposter syndrome “because we know that talent is everywhere but empowering that talent in spaces that aren’t ready to fully include and embrace them because of their difference is the real challenge".

As well as working hard, taking adequate rest is vital. She explains: “This is something we talk about all the time.

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"Often, as a community… we have to work twice as hard to have half as much, but it also leads to burn out, masked mental health struggles and these things make progressing through an organisation even harder than it already is when you’re underrepresented in that space.

"Building community, taking rest from the work of holding the torch, and ensuring that effort is put into the right places at the right times are really important tools that we try to impart on our community of interns and alumni. These are all things that I have dealt with and am still learning myself. “

Wider purpose

Social mobility does not just mean helping Britons get a foot through the door of a financial services company, or giving that talent a hand up the career ladder, however. 

There is also a wider aspect to social mobility, whereby financial services companies can encourage clients to think more globally.

For advisers with clients wanting to invest or donate money to causes related to greater social mobility, especially in developing countries, faith and development charity Christian Aid is heavily focused on just this purpose. 

Christian Aid’s programme In Their Lifetime is described by philanthropy lead Betsy Nicholas as “a global innovation and learning programme, which is delivered through local partners in Africa, Asia, and Latin America.

"It is designed to test new approaches to tackling extreme poverty, generate results and evidence, and then use those results to leverage change at scale. We do that by partnering with others, including the private sector.” 

Over the past 15 years, In Their Lifetime has invested in a range of programmes.

She says: “We’ve seen particular success in developing business growth opportunities, such as a Hibiscus cooperative in Nicaragua which is now a profitable, independent enterprise, with an international distribution network through Walmart.”

Christian Aid’s chief executive Patrick Watt said: “When I visit Christian Aid’s programmes, I am always struck by the resourcefulness and creativity of the people I meet. Our approach to development is rooted in local partnership, working alongside diverse organisations and communities affected by extreme poverty.