BANK OF ENGLAND DEPUTY GOVERNOR: Sorting out bias is like 'Whack-a-Mole'

Charlottehogg2GettyCharlotte Hogg, wearing ME+EM for the 2016 Magnolia Cup arrive at the Qatar Goodwood Festival 2016 at Goodwood on July 28, 2016 in Chichester, England.

One of the most senior women at the Bank of England told an audience in London that trying to correct gender bias at an organisation is like a game of “Whack-a-mole” — as soon as you solve a problem in one department, another pops up elsewhere.

Charlotte Hogg, deputy governor and COO at the Bank of England, said that creating better gender diversity within departments and promoting more women comes from “refocusing the mind from micro-decisions that are throughout the supply chain.”

“We have to refocus and make it clear that micro-decisions in one department can build up and it’s a collective responsibility to make sure we tackle bias. This goes from how to get more more women to apply for jobs that they wouldn’t have normally applied for, a graduate programme, through to each department and how many women are in management.”

Hogg, who made the comments at the FT Women at the Top conference last week, became the first chief operating officer at Britain’s central bank in July 2013. Prior to that, she was the head of retail distribution at Santander UK. She has also worked at consultancy giant McKinsey & Company where she was a Principal in financial services and at Morgan Stanley where she was managing director of strategic planning.

At the same event in London Shriti Vadera, chairman at Santander UK said how sub-conscious bias can help prevent women getting into financial services through job ads.

Meanwhile, one of only seven female CEOs at a FTSE 100 company in Britain, Alison Brittain from Whitbread, outlined how women can make the transition from managing director to CEO in seven different ways.

Heather McGregor, managing director at business consultancy Taylor Bennett and the FT’s Mrs Moneypenny columnist, revealed some top tips in how you can get a raise and for what employers can offer to help retain staff if they cannot afford to grant one.

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