Case Study:
Progress Together

“Progress Together was founded because of the evidence presented by the Bridge Group. Its collaboration, expertise and rigour has helped us deliver everything we’ve achieved so far.”

Progress Together is a not-for-profit membership body that was launched in May 2022 to create equity of progression for individuals in the financial services sector. Its aim is to level the playing field and ensure equal access to senior level roles for all, including those from lower socio-economic backgrounds.

The impact of the Bridge Group, over the three-year period leading up to the creation of, and the continued development of, Progress Together has been significant in the financial services sector. 

In 2020, there was a clear absence of sector-wide discussion, engagement, and action in relation to socio-economic diversity (SED). This changed with the launch of the Bridge Group’s City of London Corporation-commissioned report.

Sophie Hulm, Chief Executive of Progress Together, comments on the release of that influential report:

“People got up and noticed. The data was so stark. In particular, the link to job performance, highlighting the waste of energy and of talent. Businesses wanted to do something about it.”

Not only did the report on SED raise awareness in the sector, it led directly to the creation of the Government-commissioned Socio-Economic Diversity Taskforce that recommended, and led to, the creation of Progress Together. The Bridge Group report was an essential driver for action, as Sophie elaborates: “Progress Together was founded because of the evidence presented by the Bridge Group. Their report was instrumental in the Government commissioning the taskforce. Over 100 key figures in the sector engaged as a direct result of the clear evidence and calls to action in the report. It has opened so many doors.”

The Bridge Group has been working with Progress Together since its formation, having been commissioned as the data partner to lead on data analysis for the consortium. This deep analysis of members’ data is at the heart of informing progress. Last year, the charity analysed the largest-ever dataset of its kind covering SED in the financial sector, using data from 25 Progress Together members and nearly 150,000 of their employees. The analysis revealed that socio-economic background is more likely to impact a person’s route to success in financial services than gender or ethnicity.

Sophie recognises that this detailed analysis by the Bridge Group has helped Progress Together to identify what it needs to do to achieve its goal of improving SED to ensure that people from working class backgrounds are not held back because of where they started out in life. One particular impact can be seen in the setting and applying of core values that have grown from observing and engaging with the Bridge Group. Specifically, a commitment to data-informed decision-making has been mirrored at Progress Together: “We could have become a talking shop. But we avoided this, and will generate impact quicker, because we had the evidence right from the start. We understand the importance of this and have identified being ‘data-driven’ as one of our four key values.”

More generally, Sophie reviews the working partnership: “The Bridge Group is approachable, credible and a trusted data partner. Its standing in socio-economic diversity, across multiple sectors, is central to our purpose.

“The Bridge Group gives us additional reliability, profile and reputation. Its collaboration, expertise and rigour has helped us deliver everything we’ve achieved so far.” 

February 2024