Equality, diversity and inclusion are important to the Bank, and essential to the delivery of the Bank’s business strategy. The Bank’s greatest asset is the people who work for it. They are crucial to our success. We therefore need to attract and retain the best possible people. To achieve this, the Bank is committed to ensuring that employees (both potential and actual) are treated fairly, have a positive experience, and feel able to contribute to the best of their ability.
Our annual Diversity Report gives an overview of the Bank’s diversity and inclusion activities, the successes and the challenges we are currently working on.
The Bank has made great strides over recent years in increasing its staff diversity, and making the Bank a more inclusive place to work. The representation of female and Black, Asian & Minority Ethnic staff is increasing along with pipelines of talent for both looking strong. The Bank has a number of staff networks that help in increasing the Bank’s staff diversity.
The Bank established a Diversity and Inclusion Forum (DIF) in January 2010. The aim of DIF is to engage a range of staff on a broad agenda of diversity topics and issues. It also supports our other established employee networks. It does this by:
- Feeding staff and employee network views into the strategy and the Equality and Diversity Committee’s discussion.
- Harnessing the energy of the networks to help deliver initiatives in pursuit of agreed strategy.
- Coordinating and supporting central resourcing of staff- and network-led initiatives.
Providing an independent review and critique of the success of strategy.
The Bank also has a number of employee networks:
Bank of England Ethnic Minorities (BEEM) Network
BEEM is the Bank of England Ethnic Minorities Network. Its aims are to ensure that: all staff feel fully included in the Bank family; the Bank celebrates the cultural diversity of its staff; EM staff are empowered in their roles and that the Bank will help them develop, progress and realise their potential in their Bank career; and that those outside the Bank perceive the Bank is inclusive and empowering for ethnic minorities.
The Disability Network aims to identify and remove barriers so that people with disabilities can be employed in the Bank and can then reach their full potential. The network promotes awareness of the full spectrum of actual and potential disabilities across the Bank.
Lesbian/Gay/Bisexual and Transgender Network
As part of the Bank's commitment to diversity in the workplace, a group of Bank staff have set up a Lesbian/Gay/Bisexual and Transgender Network. The aims of the network include offering support to anyone dealing with issues relating to sexual orientation (eg either personally or with friends and family); offering help with regards career issues (eg buddying and mentoring) and reflecting the diversity of our organisation which may help and support existing staff or staff joining or considering joining the Bank.
Mental Health Network
The Bank’s Mental Health Network aims to raise awareness, improve understanding (and dispel misunderstandings) around mental health conditions and highlight the support available to staff.
The Carers Network launched during Carers Week in 2015. The network helps to provide information and support to those people across the Bank who are in a caring role.
Women in the Bank
The Women in the Bank network aims to support all women in achieving their aims throughout their careers at the Bank. It groups its activities under five ‘pillars’ which are: enabling, realising potential, networking, challenging and external perception.
The Christian Union is a collection of staff looking to live and speak for Jesus both inside and outside the Bank. It supports Christians in the Bank by holding weekly meetings where it studies the Bible, pray, talk or eat (or any combination of these!) together. It has lively discussions on how our faith applies to our lives and in relation to topical issues.
It welcomes all Christians, of any or no denominational background, as well as anyone who wouldn’t call themself a Christian but is interested in finding out more about the claims and offer of Jesus.
Islam is a holistic way of life, which means we are not able to completely separate our religious requirements from our worldly obligations. One of the many qualities of being a Muslim is to strive for excellence and this is not limited in how we worship God, but also applies equally in how we earn a living. When we come to work we should not feel we have to compromise our spiritual needs in order to fulfil our work obligations. And through the Muslim network, the Bank supports our needs to achieve a balance between our religious needs and our abilities to perform our jobs.
The Muslim network is an informal group that enables Muslims across the organisation to connect with each other and offer support when required. Our primary aim is to enable the Muslim's spiritual well-being is catered for within the Bank by ensuring individuals have access to a multi-faith room for the daily ritual prayers and making provision for the weekly Friday congregational prayer (Jummah) within the building (20 Moorgate or Threadneedle Street). The Muslim network also facilitates communications between Muslim networks and activities and events occurring in other organisations within and around the City and Canary Wharf such as the Financial Conduct Authority. We also aim to arrange social events to mark Islamic celebrations throughout the year.
Judaism encompasses a wide spectrum of denominations and beliefs, such as Orthodox, Conservative, Progressive, Cultural and Atheist Jews, as well as those who are not affiliated. The Jewish Network seeks to ensure we are inclusive of all who are interested in participating in our events.
One of our aims is to cater for the needs of Jewish colleagues, such as distributing information to managers prior to upcoming Jewish holidays and ensuring that those who need to can make necessary arrangements in advance (working from home, taking leave etc).
The Jewish network intends to organise a few key events around major Jewish holidays, such as Passover and Rosh Hashanah. We plan to host a number of Lunch and Learn sessions with interesting speakers on relevant Jewish topics. The Jewish Network distribution list is also used to forward Jewish events that may be of interest.
The Bank also has a Diversity of Thought strand which allows everyone to share different ways of thinking, working and achieving success. Its aim is to promote creative thinking and diverse approaches by inviting people with different backgrounds, skills or talents to present their thoughts and ideas.
Across the different areas and networks there is a great deal of commitment and energy to increasing both diversity and inclusion at the Bank.
The Bank continues to face challenges with each diversity strand. Our primary focus is to work with the networks to address each specific area which will enable the Bank to continue to progress in recruitment, management, and progression of all groups of staff.
The Bank is an approved user of the ‘Positive about Disabled People’ symbol, meaning that any disabled person who meets our essential entry criteria is guaranteed to reach the first stage of our selection process.
Employers who use the disability symbol make five commitments regarding recruitment, training, retention, consultation and disability awareness. The five commitments are:
- To interview all disabled applicants who meet the minimum criteria for a job vacancy and to consider them on their abilities.
- To discuss with disabled employees, at any time but at least once a year, what both parties can do to make sure disabled employees can develop and use their abilities.
- To make every effort when employees become disabled to make sure they stay in employment.
- To take action to ensure that all employees develop the appropriate level of disability awareness needed to make these commitments work.
- To review these commitments each year and assess what has been achieved, plan ways to improve on them and let employees and JobcentrePlus know about progress and future plans.
To find out more about careers at the Bank, please visit our Careers pages.