In today's rapidly changing world, ensuring equal access to career opportunities is more important than ever. Innovative solutions in education, recruitment, and childcare are emerging as powerful tools to break down barriers and democratize opportunities for all. For businesses, this isn't just a social good—it's a strategic advantage that can lead to thriving, inclusive workplaces. In this article, we'll explore how these innovations are reshaping the landscape of career inclusivity, and how investment in businesses adopting these innovations can potentially lead to long-term capital growth in portfolios.

The Power of Inclusive Innovation

Companies focusing on innovative solutions to enhance access to education, employment, and childcare are setting new standards in inclusivity. These advancements unlock vast human potential and widen the gateway to opportunities, fostering a more inclusive economy.

Scaling up educational opportunities

Education is the foundation of a sustainable and inclusive society. Unfortunately, 16% of young people worldwide are excluded from formal education, perpetuating inequalities along ethnic, gender, and socioeconomic lines. However, the widespread availability of smartphones and internet connectivity is revolutionizing education access.

Digital Learning Technologies

Platforms like Coursera and Duolingo are leading this transformation. Coursera offers massive open online courses (Moocs), reaching millions globally and providing flexible learning options. Duolingo, the leader in mobile language learning, uses gamification to engage over 500 million users. These platforms break down traditional barriers, making high-quality education accessible to all.

Improving access to employment

Traditional recruitment processes often rely on narrow talent pools, leading to uncompetitive hiring practices. Digital innovation, particularly artificial intelligence (AI) and data analytics, is transforming how companies find and hire talent.

Enhancing Workforce Diversity

Diverse workforces drive better financial outcomes and innovation. By adopting inclusive recruitment practices, businesses can tap into a broader range of skills and experiences, improving decision-making and performance. This approach also reduces turnover rates, saving costs associated with rehiring and training.

Online Recruitment Platforms

Recruit Group’s online job platforms, Indeed and Glassdoor, provide greater transparency and access to a wider talent pool. By integrating AI, these platforms match candidates with roles more efficiently, reducing the time and cost of hiring. Recruit Group's services have significantly improved hiring times and diversity, supporting millions of candidates facing employment barriers.

Supporting working parents

Childcare is a critical factor for a productive and inclusive workforce. Access to affordable and reliable childcare enables parents to pursue career opportunities, narrowing the gender wage gap and supporting economic growth.

Employer-Sponsored Childcare

Companies like Bright Horizons offer on-site childcare and emergency care services, helping employees balance work and family responsibilities. These benefits enhance employee retention and job satisfaction, crucial in today's competitive labour market.

Economic Impact

Affordable childcare solutions directly impact productivity. A study by Bright Horizons found that 77% of U.S. working parents reported increased productivity with childcare support. For businesses, this translates to a more focused and motivated workforce.

Connecting people with opportunities

Innovative solutions in education, recruitment, and childcare are not just beneficial—they are essential for building a more inclusive economy. By adopting these solutions and integrating digital technologies, businesses can unlock new opportunities, enhance their workforce's skills, and support employees in balancing work and personal life.

Investing in major socioeconomic trends

Major trends, such as increasing access to education and childcare, have the potential to create new investment opportunities that we believe are largely ignored or underestimated by the markets. NEI Global Corporate Leaders Fund seeks to generate long-term capital growth by investing in companies with strong corporate cultures that are focused on addressing powerful major socioeconomic trends.

Find out more about NEI Global Corporate Leaders Fund.

About this article

This is a condensed version of an article published by Impax Asset Management in October 2023. You can read the original article in full. Impax is the subadvisor for the NEI Global Corporate Leaders Fund.