New Study by Urban Synergy Reveals Dilemma for Companies Seeking to Increase Diversity and Social Mobility in the Workplace
London, 20th March 2024- Urban Synergy, a leading charity in the UK, has released a new white paper that highlights a challenge faced by companies aiming to increase the representation of individuals from ethnic minorities and disadvantaged backgrounds in their workforce and on their boards. The white paper, titled “Ethnic Diversity & Youth Empowerment – The Business Case for Youth Empowerment,” was published today in response to new research conducted by the charity.
According to the study, which focused on schools with higher than average levels of students receiving free school meals, students aspire to work in professional careers in the City. However, these same students have varying levels of confidence and access to role models to help them pursue careers in the financial, energy, and technology sectors.
The white paper urges companies to take a dual approach to their talent strategies, focusing on both “top down” and “bottom up” methods. David Craig, Chair of Urban Synergy’s Corporate Advisory Board, emphasizes the importance of this approach, stating, “A dual approach – bringing young people into their organizations through apprenticeships and work experience as well as recruiting from Russell Group Universities – will help firms in the long run.”
The charity, which has helped over 27,000 young people access education and work through its unique mentoring and work-readiness programs, highlights the importance of nurturing talent from underrepresented groups. Leila Thomas, CEO of Urban Synergy, explains, “Nurturing talent from underrepresented groups will not only increase companies’ access to raw talent, but also drive retention through loyalty, create an authentic pipeline, and save companies money in the long run.”
Urban Synergy’s research also shows that when young people participate in work experience, their interest in working for major companies increases to over 90%. The Future Outlook: Next Gen Access to City Jobs Survey, conducted by Urban Synergy, surveyed 600 pupils at schools with higher than average free school meal recipients in 14 London boroughs. The results showed that while 85% of students are aware of professional opportunities, only 49% are interested in applying for a career in places like the City of London.
Urban Synergy’s founder Leila Thomas and her team have connected individuals to mentors and industry-leading companies since the charity’s inception in 2006. Through this, they have inspired, guided, and ignited the ambitions of students and young people aged 9-24 years old. The charity’s strategic partners, including Citi, DMGT, Dynamic Planner, Goldman Sachs, London Stock Exchange Group, Sony PlayStation, UK Power Networks, and WTW, have all invested in their long-term interests by bringing young people in via the charity.
To find out more about Urban Synergy and their work, visit their website at https://urbansynergy.com/. For media inquiries, please contact Victoria Silverman at +447711331127 or email media@urbansynergy.com.
Download the white paper at https://pressat.co.uk/.
