Top accountancy firms makes social mobility a priority

Large accountancy firms such as PwC, Grant Thornton, and KPMG have been named as the best employers for promoting social mobility and hiring staff from diverse backgrounds.

PwC has been ranked as the number one UK employer in the Social Mobility Employer Index 2023.

The index, created by the Social Mobility Foundation, ranks Britain’s employers that have taken the most action to improve social mobility in the workplace.

Employers are assessed across seven key areas, including their work with young people, routes into the company, how they attract talent, recruitment and selection, data and advocacy, and progression. This year, 143 employers were considered for the Top 75 rankings.

Grant Thornton came in third on the index, behind PwC. According to Grant Thornton, it has prioritised social mobility for many years, which has seen the firm consistently placed in the top 10 since the Index launched in 2017.

The firm’s “leading” approach to social mobility remains data-driven, focusing on identifying and removing barriers to entry and progression for those from low socio-economic backgrounds.

Meanwhile, KPMG secured fourth place in the index. This is the seventh consecutive year that the firm has featured among the top 5 on the Social Mobility Employer Index, reflecting its “long-standing focus as a firm on driving progress in this area”.

Other accountancy firms such as Womble Bond Dickinson, EY, and Deloitte also appeared in the rankings at 11th, 27th and 57th.

Kevin Ellis, senior partner at PwC UK, said: “It’s an honour to be named social mobility employer of the year and a responsibility. Social mobility, or lack of social mobility, is not only a societal issue but also an issue for business and the economy. If opportunity narrows, labour markets shrink and workforces become one-dimensional.

“We’ve seen firsthand the benefits of improving the diversity of our workforce and are committed to doing more. It’s positive to see so many employers enter the index, as we can all learn from each other.”

Jenn Barnett, head of Inclusion and Diversity and ESG, Grant Thornton UK LLP, added: As part of our firm’s ongoing commitment to creating an inclusive environment to grow, we continue to advance our efforts in making opportunities accessible to people from low socio-economic backgrounds and removing potential barriers to progression.

Bina Mehta, KPMG chair, said: “We are proud of the achievements we’ve made in recent years, including publishing our socio-economic background pay gap in 2021, setting stretching targets, and launching new commitments to give one million young people the opportunity to develop their skills by 2030 as part of our ‘Opening Doors to Opportunities’ initiative this year. We recognise there is more to do and are committed to playing our part.”

Sarah Atkinson, chief executive of the Social Mobility Foundation, concluded: “The employers represented in this year’s Index recognise that the workplace is as important as the classroom for improving social mobility. They are doubling down and are rightly continuing to prioritise social mobility as an investment in the talent of the future.”