New Zealand bank workers union Finsec says that the results of the FSU survey on staff pushing products is echoed in New Zealand, where staff are facing major pressure to meet sales targets even in the wake of major earthquakes in Christchurch.
Finsec Campaigns Director Tali Williams said that Christchurch staff at Westpac were at the receiving end of sales targets and policies set by the parent company in Australia. "We are dealing with a major increase in staff seeking assistance with performance management processes - because they aren't meeting their sales targets."
"This is hard on staff on many levels. They're rebuilding their own lives after two devastating earthquakes - and they know that the last thing customers similarly affected want is a hard sell on financial products," said Williams.
"Westpac is operating like its business as usual," said Williams. "Business as usual is tough enough for staff, but impossible when they are working and living in communities struggling with a major disaster."
Williams said that Finsec has met and written to the bank several times asking them to adjust their target expectations, and is meeting with senior management again soon.
The Finance Sector Union survey of 3200 Australian finance workers found more than half had seen customers steered towards financial products they may not have needed in order to reach management driven performance targets, and 88% said a quarter of their take home pay is generated by product sales.
Despite rising personal debt, communities on both sides of the Tasman face a continual barrage of credit offers, as finance workers continue to be remunerated for sales rather than service.
"This approach is completely at odds with the notion of responsible lending and professional service. There should be a suspension of sales targets in disaster affected areas, while communities, businesses and finance workers are getting back on their feet," said FSU National Secretary Leon Carter. |
