AGR Diversity Forum - Bank of England Slides 04.03.2015

2. Alex Brackfield
Graduate and Intern Lead
Camilla Woodhead
TMP – Account Director

3. Our New Strategy

4. Diverse and Talented
‘The Bank wants to attract and inspire the best
people to public service, reflecting the diversity
in the United Kingdom. This means valuing
diverse ideas and open debate, while
developing and empowering people at all levels
to take initiative and make things happen.’

5. Entry Categories
The Bank offers the following entry routes:
- School Leaver Programme (25+)
- Industrial Placement (~30)
- First Year Internship (30)
- Penultimate Year Internship (11)
- Postgraduate Internship and Sponsorship (5)
- Graduate / Postgraduate entry (79)
- Other entry - PhD and MBA (15 – 20)

6. New Diversity Landscape
• Disclosure
• Two Ticks – Positive about disabled people
• New Graduate hires for 2014 entry were:
– 38.5% Female;
– 27.7% BAME;
– 6.2% Disability;
– 6.2% LGBT;
– 56.9% non fee paying school.
From 37 different universities
• School Leavers:
– In 2013, 44% of entrants were female and 25% were BAME.
– In 2014, 48% of offers were female and 33% were BAME.

7. Target Universities - Previous
Process
• Narrow targeted approach
• Formal Top Tier of 4 Universities
– Presentations, skills sessions and careers fairs at all
4 Universities
• Informal Second and Third Tiers
– Careers fairs at a few additional Universities and
advertising with Careers Services

8. Why change?
With the narrow approach, in 2011/12 the Bank recruited
graduates from under 20 different Universities and
although better in 2012/13 actual diversity was poor .
Further reasons for change?
• Changing organisation
• Need to be pro-active to reach a diverse range of
students
• Dispel pre-conceptions that we only recruit from
Oxbridge and only recruit economists

9. What we did – on campus
• Started by exploring what others were doing – were
there any models already in place that we could use?
• Identified the academic subjects we wanted to focus on
• Utilised University league tables and statistics from
HESA to determine which Universities we should target
• Determine how many Universities to actively target and
how

10. Transparency with Candidates
• Provided more information about the selection process to
candidates
• Skills sessions at target Universities, with particular focus on non-
Russell Group
• Detailed guidance on Watson Glaser Critical Thinking Test
• Videos of recent graduate entrants talking through how they
prepared for the selection process

11. Earlier Engagement
Utilising a number of routes to get to students
earlier on in their education:
• Insight Days
• Temporary Vacation Placements
• Work Experience
• First Year Internship

12. Working with TMP
• Creative concept See the Bank Differently
• How do our audience See the Bank
Differently?
• How do we speak to them?

13. A Messaging Matrix Approach
• Defined 7 target groups – programme, gender and
ethnicity
• Conducted focus groups with our audiences
• Established the key career decision drivers
• e.g. For Females: Public sector rather than bank, Content of work, Quality of
training and development, Impact of their job, Reputation of the job, Location,
Work-life balance
• 4x key messages for each group – ordered into a
hierarchy

14. Audience Drivers for the audience Key message 1 Key message 2 Key message 3
Undergraduates
Undergraduate candidates use internships with the
Bank of England to try out the banking sector while
earning money. What’s more, the experience looks
strong on the CV and helps them secure a graduate
job.
Undertake an internship with
us and gain in-depth insight
into the UK's central Bank.
Not only will you have unique
experience at the UK's central
Bank, your internship will
enhance the rest of your career.
Spend your summer gaining
an understanding of
monetary policy and financial
stability, within a prestigious
organisation.
Graduates
The graduates that join us from a range of disciplines
value a good work/life balance, which the Bank offers
through its flexible working arrangements. They also
want to feel secure in their job and have an
international career – and the Bank gives them
exposure to international organisations.
It’s a high profile opportunity
in an organisation that
impacts the lives of people
across the UK.
Our graduates stay with us
because we support them to
develop and progress in the
organisation through
exceptional training
programmes.
It's an exciting time to join
our evolving organisation,
and we need a broad range
of graduates with diverse
approaches and who can
train and develop with us
ready for, and shaping, our
future.
Graduates - IT
Those considering the Bank and in the final year of
their IT degree relish the chance to work on some of
the most important IT systems in the country and to
be at the cutting edge of the UK payment system. The
graduates benefit from investment in technical
training and love the idea of working in an advisory
capacity to shape innovative solutions. Above all,
they like to see the projects that they are working on
having an impact on the daily lives of people in this
country.
Our IT systems underpin the
UK’s economy and financial
system, so the work is
challenging, specialised, and
impacts people's daily lives.
We oversee all the payment
systems in the UK, and with a
renewed focus on cyber
security and data architecture
across the organisation, this is
a chance to think big.
Our rotations allow you to get a
flavour of all our IT systems and
teams. We know technology is
always changing and you'll need
skills in multiple areas. The
rotations will allow you to find
the right area for you to
specialiase in.
It’s your opportunity to work
alongside experienced IT
professionals to provide
innovative solutions to real-
world problems, in an
organisaton where decisive
and expert execution is at
the core of our culture.
Graduates - Finance /
Economics
Those in the final year of a finance-related degree are
attracted by sound professional training, high future
earnings, and friendly and dynamic work
environment. They want to work with and be
developed by our experienced team.
Use the skills from your
degree and the transferable
skills from university to
influence important work
within a prestiguous
organisation.
Our programme has a real
emphasis on personal and
professional development, so
you’ll have all the support you
need to unlock your potential.
You'll be supported to
specialise in the areas that
interest you.
The Bank is a flexible and
friendly working
environment where you'll be
working with bright,
motivated and dedicated
colleagues. The Bank has an
inclusive, collaborative
atmosphere with everyone
treated as part of the team.
Postgraduate Sponsorship
Scheme (Graduates -
Finance / Economics )
Graduates who want to study their postgraduate
degree with the Bank are looking for the chance to be
intellectually stimulated every day.
Start your career journey with
the UK's central Bank.
Not only will we support you
financially with your
postgraduate, we'll make sure
you have some real life work
experience.
What's more there's an
opportunity to join us as an
Economist after your
postgraduate degree.
Bank of England - Key Message Matrix

15. Application to Materials
• Matrix messages incorporated into copy
and imagery according to placement and
audience
• Messaging for our harder to attract diverse
groups should be incorporated into all
materials as far as possible
https://www.bankofenglandgraduates.co.uk
/jobs-apply/selection-advice

16. 2014 / 2015 campaign
• Even more universities
• Expansion of programmes
• Re-design of website (more people
focused & accessible)
Our Stats this year …..