Best Use of Thought Leadership
Partnering with The Royal Foundation of the Prince and Princess of Wales, Deloitte produced a landmark report that illuminates the significant economic and societal benefits of investing in early childhood, , estimating a potential £45.5 billion annual boost to the UK economy.
Building the Case for Change
Inspired by the Princess of Wales’s “Shaping Us” campaign, Deloitte was a founding member of the inaugural Business Taskforce for Early Childhood, recognising the untapped potential of the private sector. In partnership with other Taskforce members, we identified a critical need for a compelling “case for change” to demonstrate the economic and societal benefits of early childhood investment from a business perspective. Deloitte spearheaded the report’s development, employing a multi-faceted approach:
- Collaborative workshops ensured diverse voices, including SMEs, shaped the narrative.
- An impactful framework provided clarity, outlining challenges, interventions, and KPIs.
- Expert consultations enriched the report with insights from academics, charities, businesses, and sector leaders.
- Rigorous desktop analysis provided a global context, strengthening the business case
This comprehensive, business-centric approach resulted in a report that resonated deeply with its intended audience.
Driving Impact: From Awareness to Action
The report’s impact has been undeniable, with over 200 media articles sparking national conversations, raising awareness of the importance of investing in early childhood.
Taskforce members committed to concrete actions:
- The Co-operative Group created a dedicated early childhood fund as part of its Co-op Levy Share service.
- They committed to raising £5 million over the next 5 years, creating more than 600 apprenticeships for careers focused on early childhood (the period from pregnancy to age five).
- NatWest Group extended their lending target for the early years sector to £100 million.
IKEA UK and Ireland is expanding its contribution of support, design expertise and products for babies and young children to six new locations across the UK to help families with young children experiencing the greatest disadvantage.
All members pledged ongoing support for The Royal Foundation’s early childhood initiatives.
Deloitte’s own commitments demonstrated leadership:
- Deloitte is expanding its investment in Teach First to support the early years sector, funding 1,442 professionals to complete a National Professional Qualification for Early Years Leadership in 2024.
- Deloitte became the first professional services firm to equalise paid parental leave to 26 weeks.
The report was presented at the United Nations General Assembly to reach a global business audience, where it was confirmed to be a ‘bible’ for the US Chamber of Commerce in engaging business leaders on this topic.
Testimonials from key stakeholders, including The Royal Foundation and business leaders, underscored the report’s profound influence.
Deloitte’s thought leadership has been instrumental in shifting the narrative around early childhood, driving tangible action from businesses and creating a lasting legacy. This initiative exemplifies our commitment to making an impact that matters, proving that by working together, we can build a brighter future for children and a stronger UK economy.
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