When it comes to driving economic prosperity, the focus is often on infrastructure, innovation and investment. Yet, one of the most transformative – and overlooked – levers is social mobility.
Social mobility is often framed as a moral imperative, but its economic potential is just as crucial. When people from all backgrounds are given the tools to thrive, the benefits ripple through businesses, communities and the broader economy.
Empowering people through skills development to meet evolving business needs unlocks this economic potential. With appropriate community outreach, progressive businesses offering learning opportunities with genuine Equity, Diversity and Inclusion (EDI) focus will drive sustainable prosperity at regional and national levels.
The UK government’s recent Autumn Budget was positioned as a call to action to boost regional growth. For it to be successful, addressing the barriers to social mobility must be at the forefront of business strategy.
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The economic power of opportunity
Research consistently highlights that a thriving economy is built on opportunity. Most recently, Demos and Co-op found that greater social mobility could add £19 billion annually to the UK economy, boost business profits by £1.8bn per year and generate £6.8 billion in yearly tax revenues.
These compelling figures underscore how critical it is to provide individuals from all backgrounds with access to training, development and pathways to career progression.
The opportunities created by skills development don’t end with helping individuals succeed. They include harnessing untapped talent and diverse perspectives, which strengthen regional economies and, like a well-placed domino, catalyse profitable growth at a national scale.
The link between opportunity and economic progress is clear. When development is inclusive, businesses can build more diverse teams, which consistently outperform homogenous ones in:
- Decision-making (87% more effective)
- Problem-solving (60% more effective)
- Creativity (7 times more innovative)
- Profitability and revenue (36% and 19% higher)
By investing in people’s skills, businesses also address skills shortages, increase operational efficiencies and drive tangible results. This is exactly what Sodexo did by offering Instep’s apprenticeship programmes to its managers and staff.
Using their newly acquired skills, one participant was able to pinpoint annual savings of £122K in the UK and £386K across North America. These examples show how well targeted practical training directly translates into economic impact.
Removing barriers to progress
Many individuals still face barriers to reaching their potential, from systemic biases to a lack of access to development opportunities. Keeping EDI at the heart of workforce development means actively removing these barriers so that everyone has a fair chance to contribute and succeed.
For businesses on the Stakehill Industrial Estate in Greater Manchester, Instep’s leadership programme was instrumental to breaking down obstacles. Delivered on-site and fully-funded, businesses from all across the estate were able to participate, giving every employee the opportunity to access training that would equip them with practical leadership skills.
Democratising access to training also nurtures diverse talent pipelines. For one organisation, a focus on recruiting and developing individuals from underrepresented backgrounds was pivotal in building an inclusive workforce. Through tailored apprenticeship programmes, they’ve been able to attract nearly 100 learners over three years, with all graduates moving into permanent roles.
This approach demonstrates how structured, inclusive training can help organisations fill skills gaps while ensuring long-term retention and progression for diverse talent.
Skills are drivers of economic resilience
The UK’s post-pandemic challenges highlight the need for resilience in the workforce. Training and development are key to ensuring businesses can adapt and thrive. This isn’t about delivering generic programmes but about tailoring development to address real needs.
By applying insights from Instep’s leadership programme, an organisation was able to focus on process optimisation, leading to a specific project which achieved £400K in annual cost savings for the company. This story isn’t unique – it’s part of a wider picture of how giving employees the tools to progress results in measurable business impact.
Skills development simultaneously fosters long-term resilience by building loyalty. In 2024, one-fifth of UK workers felt burnt out and 70% looked for a new job. This epidemic of disengaged employees costs the UK an enormous £257 billion annually.
Investing in people emerges as the antidote. When employees feel valued and supported, engagement and retention improve – a benefit that reverberates across organisations and regions. Businesses that invest in targeted workforce development are thus the architects of sustainable talent pipelines, which in turn contribute to a more resilient labour market capable of navigating economic fluctuations.
EDI: A path forward to prosperity
Skills development must be inclusive to be effective. Training that actively includes underrepresented groups – such as women, ethnic minorities and older workers – ensures that businesses draw on the widest pool of talent. This helps to drive performance within the organisation, strengthen the economic fabric of communities and build a national workforce that reflects the society it serves.
Business and Leadership skills programmes that are designed with this ethos in mind, integrating EDI principles into every level of training can be instrumental in breaking down barriers to social mobility.
Harnessing the power of people is a blueprint for how we as a society can turn social mobility into economic fuel. It’s about creating a workforce where everyone has the confidence and the resources to go further, regardless of their starting point. In doing so, we’re not just building stronger organisations; we’re building an economically stronger and fairer UK.
A recognised leader and innovator in workplace learning, Al has previously led Sanctus Coaching and KnowledgePool Group, and currently serves on the Board of Trustees of the Roffey Park Institute. Forever curious about people, technology and work, Al began his career in the Human Performance consulting practice at Accenture, and holds an MSc. in Cognitive Ergonomics from UCL.
- Al Bird
- Al Bird
- Al Bird
