London, England--(Newsfile Corp. - November 30, 2022) - The Early Careers Group, includes "The Early Careers Company (ECC)" and "The Early Careers Foundation (ECF)" focuses on combining charity and commerce to make a systemic change to social mobility and early careers in the UK, EU, US and around the world. The Early Careers Group is now launching a new collaborative service line: Social Mobility Audits.
The Early Careers Group
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The Early Careers Foundation is a registered social mobility charity. Fully funded by ECC, it runs a variety of grassroots initiatives to help young people from low-income backgrounds gain the tools, exposure, knowledge, and capabilities needed to enter the commercial world.
The Early Careers Company is a private business focused on social mobility, DEI, and early careers, helping companies become socially inclusive employers, designing world-class propositions for young people, and running global hiring campaigns.
Early Careers Group believes that commerce and charity can co-exist, aiming to solve social mobility and early talent challenges from both a social and commercial perspective. Early Careers are a tool for creating a fairer society, with more equal distribution of opportunity. Getting a great first job for a young adult from a low-income background can be a life-changing event, and given ECG's close connection with early careers, it can be used in such a way to change social mobility and equality of opportunity.
During the past two years, ECC and ECF have grown to thirty-seven people globally, opened offices in Mumbai and New York and are on track to make 3M GBP in revenue in their second year - all without taking any investment, loans, or other financing. In January 2021, the ECG founder started the organisations with 1,000 GBP of initial funding. Alongside continuous success, the partnership between the Company and the Foundation has grown stronger, beyond a funding relationship to launch a new collaborative service line: Social Mobility Audits.
Social mobility is one of the key drivers of other diversity measures, like race, religion, and ethnicity, so improving social diversity improves other areas of diversity, too. After young people finish graduate schemes and apprenticeships, most companies do not tend to consider the best ways to support them, which results in higher attrition rates within the less advantaged socioeconomic groups in the workforce.
These audits help organisations build a culture that accounts for diversity in people's life experiences due to socioeconomic background and thus work toward improving socioeconomic diversity, which in turn, boosts racial, ethnic, and religious diversity. Diverse workforces are more innovative, productive, and ready for the future. Through The Early Careers Group driving the social mobility agenda, organisational commercial interests improve, helping to reach key ESG goals and increase racial, religious, and ethnic diversity - all whilst making a positive impact on societal social mobility. Research consistently supports this, with McKinsey & Company finding that, "organisations in the bottom quartile for top-team diversity are 29% more likely to underperform than their peers".
It is important that companies are in a place where people from different socioeconomic backgrounds can succeed, supplying access to more talent and the ability to keep top performers whilst improving the quality of decision-making, as well as, driving diversity, employee motivation, satisfaction and improving a global image.
Early Careers Group aims to solve the issue of a more comprehensive approach to measuring social mobility and supporting industries in taking the steps needed to improve within individual organisations. This is considered a major factor as to why social mobility in the UK and beyond is still stagnant. Considering this, "The Early Careers Group" has designed an objective and data-driven approach to measuring social mobility within organisations through Social Mobility Audits. Combining the unique expertise of talent specialists from ECC and social mobility experts from ECF, the team undertakes full audits of an organisation's people and talent infrastructure and DEI strategy to provide an understanding of where a company is succeeding, where they are not, and what they can do to become more socially inclusive - and even become accredited and win awards.
Over a period of 3-4 months, experts collect, process, and analyse a range of both quantitative and qualitative data over five key areas; Attraction & Engagement; Recruitment & Hiring; Progression & Pay; Culture & Support, Attrition and Change. Via this information, the clientele "achieves an understanding" of how they compare to national and industry benchmarks for socioeconomic representation and how these intersect with other demographic data points. It also gives a clear snapshot of the current social diversity, helping to set up 3 and 5-year targets, social mobility vision and recommendations on "how to become" more socially inclusive.
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