HRM postgraduate students visit The Bank of England in Leeds

A group of Human Resource Management postgraduate students had the unique opportunity to visit the Bank of England’s offices in Leeds city centre.

This visit comes at a pivotal time for the Bank as it sets to increase its presence in Leeds, moving away from its traditional London base. This strategic shift aims to make The Bank more representative of the UK as a whole, enhance its diverse workforce, and build on its historical ties with the city of Leeds. 

During the visit, Natasha Oakley, People Strategy and Insights Director, delivered an insightful talk on several key topics relevant to the future of Human Resource Management (HRM) and The Bank of England. She highlighted the dual nature of artificial intelligence (AI) in the workplace, discussing both the challenges it presents and some of the opportunities it offers. Natasha emphasised the importance of maintaining a human touch in the era of AI, encouraging students to bring their personal contributions to their roles when applying for jobs. Natasha also highlighted the importance of curiosity as a skill, suggesting that a curious mindset can set candidates apart and that emotional intelligence (EQ) is just as crucial as intellectual intelligence (IQ) in the workplace, which certainly talks to our approach to embedding skill development in all our programmes here at LUBS.   

The critical role of data-driven decision-making in HRM was also noted and how leveraging data can lead to more informed and effective HR strategies, particularly in fostering inclusion and diversity within the Bank. This focus on diversity is part of the Bank’s broader strategy to break down possible perceptions of elitism and to ensure that its workforce is reflective of the society it serves. 

One of the key messages from Natasha’s talk and a response to one of the students questions focused on the importance of HRM being a true partner in organisational strategy; HR professionals need that seat at the table in strategic discussions, even those that do not obviously involve people decisions, as ultimately, all decisions impact the workforce. 

Overall, the visit to the Bank of England in Leeds was an enriching experience for the HRM postgraduate students, providing them with valuable insights into the evolving landscape of HRM and the strategic direction of one of the UK’s most influential institutions. The students represented the Business School incredibly well and left with a deeper understanding of the importance of diversity, data-driven decision-making, and the human element in the future of work. 

I had the privilege of visiting the prestigious Bank of England through LUBS to participate in a discussion about their culture and innovative strategies. It was great and very insightful as we explored different approaches to talent acquisition and organizational development.

Overall, this activity is very enjoyable. It can improve our networking skills and, of course, our professional development skills. Hopefully, there will be similar opportunities again for other students.