Recognizing Potential Beyond Traditional Socio-Economic Backgrounds

Introduction

Individuals’ potential is often assessed through conventional standards, which may overlook the diverse socio-economic backgrounds that shape their experiences and opportunities. Socio-economic factors, including upbringing, education, and family income, significantly influence access to resources, networks, and career advancement. This report highlights the importance of addressing socio-economic diversity in the workplace, emphasizing its alignment with the Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).

The Impact of Socio-Economic Background on Career Progression

• Barriers Faced: Individuals from lower socio-economic backgrounds often encounter social stigma and pressure to conceal their origins, which can hinder career progression and workplace inclusion.
• Access to Opportunities: Limited access to educational and professional networks restricts opportunities for growth and development.
• Social Mobility: Defined as the change in a person’s socio-economic status over time, social mobility is crucial for social cohesion and economic growth but remains unevenly distributed globally.

EY’s Commitment to Social Equity and Inclusion

EY integrates socio-economic diversity into its broader diversity, equity, and inclusion (DEI) initiatives, recognizing the importance of social equity. The company’s “All in” strategy focuses on:

1. Valuing diverse perspectives and encouraging authenticity in the workplace.
2. Removing obstacles that limit access to opportunities for individuals from all backgrounds.
3. Driving purposeful growth and creating value for employees and stakeholders alike.

Aligning Actions with Sustainable Development Goals

Efforts to enhance social mobility and reduce socio-economic barriers contribute directly to several SDGs:

• SDG 4 – Quality Education: Promoting equitable access to education and lifelong learning opportunities.
• SDG 8 – Decent Work and Economic Growth: Encouraging inclusive economic growth and productive employment for all.
• SDG 10 – Reduced Inequalities: Addressing disparities within and among countries to foster social inclusion.

Conclusion

By intentionally addressing the persistent barriers faced by people from lower socio-economic backgrounds, organizations can create significant positive impacts. EY’s approach exemplifies how embracing socio-economic diversity supports the achievement of global sustainable development objectives. Together, stakeholders can confidently shape a future where career progression is determined by ambition and capability rather than origin.

1. Sustainable Development Goals (SDGs) Addressed or Connected to the Issues Highlighted in the Article

1. SDG 4: Quality Education – The article discusses the impact of socio-economic background on access to education and opportunities, which relates to ensuring inclusive and equitable quality education.
2. SDG 8: Decent Work and Economic Growth – The focus on social mobility and career progression ties directly to promoting sustained, inclusive economic growth, full and productive employment, and decent work for all.
3. SDG 10: Reduced Inequalities – Addressing barriers related to socio-economic status and promoting social equity aligns with reducing inequalities within and among countries.
4. SDG 5: Gender Equality (implied) – While not explicitly mentioned, diversity, equity, and inclusiveness efforts often encompass gender equality as part of broader social equity initiatives.

2. Specific Targets Under Those SDGs Identified Based on the Article’s Content

1. SDG 4: Quality Education
   • Target 4.3: Ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university.
   • Target 4.5: Eliminate gender disparities and ensure equal access to all levels of education and vocational training for the vulnerable, including persons from disadvantaged socio-economic backgrounds.
2. SDG 8: Decent Work and Economic Growth
   • Target 8.5: Achieve full and productive employment and decent work for all women and men, including young people and persons with disabilities, and equal pay for work of equal value.
   • Target 8.6: Reduce the proportion of youth not in employment, education or training.
3. SDG 10: Reduced Inequalities
   • Target 10.2: Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.

3. Indicators Mentioned or Implied in the Article to Measure Progress Towards the Identified Targets

1. Indicators related to SDG 4 (Quality Education)
   • Proportion of population with access to tertiary education or vocational training (implied by discussion on education access).
   • Enrollment rates of disadvantaged socio-economic groups in higher education (implied).
2. Indicators related to SDG 8 (Decent Work and Economic Growth)
   • Employment rate among individuals from lower socio-economic backgrounds (implied by focus on career progression and social mobility).
   • Proportion of people in decent work by socio-economic status.
3. Indicators related to SDG 10 (Reduced Inequalities)
   • Measures of social mobility, such as changes in socio-economic status over time (explicitly discussed).
   • Representation of disadvantaged groups in various employment levels.
4. Indicators related to Diversity, Equity, and Inclusion (implied)
   • Employee perception surveys on inclusiveness and barriers related to socio-economic background.
   • Data on obstacles faced by employees from different socio-economic backgrounds.

4. Table of SDGs, Targets, and Indicators

Source: ey.com