This method of lacing is called straight lacing. For many oxford style shoes, this form of lacing doesn’t allow sufficient tightening in the set of eyelets, furthest away from the lace ends. Without a snug fit here, heel slippage will occur.
A better way to lace your heel slipping oxfords, is the good old fashioned criss-cross way. A little less fashionable, but much more secure at the toe end, which is where you need it.