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19th October 2023 Barclays LifeSkills launches new strategy with The Talent Foundry

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On its 10-year anniversary, Barclays LifeSkills launches a new strategy to support underserved communities and tackle socio-economic inclusion

A survey of unemployed jobseekers has shown that social inequality is a key driver of unemployment, with 1 in 7 saying social inequalities are a barrier to finding work. With social mobility at its worst in over 50 years, underrepresented people of all ages are at increased risk of being left behind and there is a clear need for investment in socio-economic inclusion.

Barclays LifeSkills is responding to this problem by launching a new strategy to unlock skills and employment opportunities for those who need it the most, with a particular focus on people who face greater barriers getting into or staying in work. This comes as 38 per cent of job seekers surveyed said they do not feel equipped to find employment. The bank will work closely with leading charities and educators, to support the UK’s most underrepresented and underserved groups, enabling progression and reducing inequality gaps.

The new approach is designed to reach groups such as low-income families and ethnically diverse people and will focus on three audiences: young people (aged 7+), young adults, and families. By simultaneously supporting these audiences, the bank aims to more effectively address social inequalities.

Young people

In partnership with charities like The Talent Foundry, young people in schools that meet specific socio-economic deprivation criteria will receive support through the LifeSkills programme at least four times, to give them the confidence, skills and knowledge they need to succeed and reduce long-term issues of becoming not in education, employment or training (NEET). In 2022, LifeSkills participants reported 82 per cent higher and broader aspirations after completing the programme2.

C.S. Venkatakrishnan, Group Chief Executive Officer at Barclays, said:

“We recognise that today’s society is not a level playing field, which is why we are launching a new LifeSkills strategy that has tackling socio-economic inclusion at its heart.

“Through our partnerships with organisations like The Talent Foundry, Street League, and Family Action, our new strategy will ensure we can help build a stronger and more inclusive economy that’s better for everyone, and I am excited to see the difference that it can make in communities up and down the UK.”

Jenni Anderson, Acting CEO at The Talent Foundry said:

“We are proud to be continuing to partner with Barclays LifeSkills to support young people who face barriers getting into work. Barclays LifeSkills helps young people to discover the skills and talents they have, as well as spark ideas and opportunities which develop their confidence and prepare them for the world of work.”

To book Barclays LifeSkills in your school visit our website (website)