A talent gold mine hidden in plain sight
Imagine a young woman named Sofia. She grew up in a working-class neighborhood in Madrid, excelling in math but never seeing a path to a career in data science. Despite her potential, the barriers—limited access to networks, financial constraints, and the subtle but powerful biases of the job market—made advancement seem impossible.
Now, imagine if those barriers didn’t exist, and if talent—not background—determined opportunity. What if Europe could harness the potential of millions of Sofias, unlocking untapped skills, driving economic growth, and closing the workforce gap—all without adding a single new worker?
That’s the vision behind our latest report, Breaking the standstill: How social mobility can boost Europe’s economy.
Our research reveals a striking opportunity: fostering economic inclusion could enable 13 million employees to advance into higher-skill roles, boosting European GDP by up to 9 percent.
The reality of limited mobility
Social mobility—which the report defines as the ability to move up or down the economic ladder—is a key enabler of career success for talented individuals. Yet, for many, the ladder is missing rungs.
Our research found that one in three Europeans faces significant barriers to social mobility. For those from low-income backgrounds, this means:
- Higher unemployment rates
- Lower access to skilled jobs
- Slower professional growth
As Europe’s population ages and AI and automation accelerate demand for high-skill jobs, this issue will only intensify. The cost of inaction isn’t just personal—it’s economic.
Why businesses should care
McKinsey’s Emma Parry shares social mobility actions for organizations
The report underscores that social mobility isn’t just nice to have—it’s a competitive advantage.
Companies with diverse teams, including individuals from varied socioeconomic backgrounds, outperform their peers. They are more innovative, resilient, and productive. Yet despite these benefits, few organizations prioritize socioeconomic diversity.
Consider this:
- 52 percent of employees from lower socioeconomic backgrounds would leave for a company that fosters socioeconomic inclusion.
- Employees from disadvantaged backgrounds with a sponsor are two times more likely to aspire to an executive or leadership role.
- High-skill businesses that harness this ambition can create up to 35 percent more value in the first 12 years of an employee’s career.
A personal perspective: Breaking barriers
McKinsey’s Ferry Grijpink on the personal impact of economic inclusion
“Social mobility is deeply personal for me,” says Ferry Grijpink, McKinsey senior partner. “I was the first in my family to attend university and pursue a professional career. Navigating that world was a steep learning curve, but the support of sponsors throughout my journey made all the difference. I want others to have the same opportunities—to rise based on talent, not background.”
The call to action: A workforce for the future
The path forward is clear. Companies can lead the way by crafting a strong social mobility strategy using these five steps:
- Aspire to raise outcomes with a clear, compelling, and actionable plan
- Assess data to understand the workforce’s socioeconomic backgrounds
- Architect recruitment, retention, and advancement initiatives
- Act through accountability and role modeling
- Advance socioeconomic diversity by tracking progress
McKinsey’s Peter Cooper shares his social mobility story
We hope this research inspires businesses to take action,” says Peter Cooper, McKinsey partner. “Many have historically overlooked their role in social mobility. But the benefits—both for society and the bottom line—are undeniable.”
At McKinsey, we are committed to fostering social mobility through Prism, our initiative dedicated to recruiting, retaining, and mentoring diverse talent. We do this to build a true meritocracy—one that unleashes potential, drives innovation, and delivers lasting impact.
The opportunity is here. The moment is now. How will your organization step up?