Stephen Sedgwick

Banks grapple with the sea-change of removing pay incentives linked to sales

Bank CEO says meeting new regulatory requirements by removing pay incentives linked to sales resulted in an initial drop in sales of up to 20%

10th Apr 19, 5:34pm

by Gareth Vaughan

Bank CEO says meeting new regulatory requirements by removing pay incentives linked to sales resulted in an initial drop in sales of up to 20%

'Substantial progress made to delink sales directly to reward for front line staff'

Update from Stephen Sedgwick says Aussie banks weaning themselves off reliance on pay incentives linked to sales in retail banking

13th Mar 19, 4:27pm

by Gareth Vaughan

Update from Stephen Sedgwick says Aussie banks weaning themselves off reliance on pay incentives linked to sales in retail banking

Co-op Bank looks at 'left field' pay incentive options including 'learn to earn'

CEO David Cunningham says The Co-operative Bank is working on alternative incentive options for staff after FMA told banks 'thou shalt not have sales incentives'

7th Dec 18, 12:12pm

by Gareth Vaughan

CEO David Cunningham says The Co-operative Bank is working on alternative incentive options for staff after FMA told banks 'thou shalt not have sales incentives'

Banks' frontline staff pay changes not good enough, royal commission says

Sales or profit incentives need to go for banks' top dogs - not just frontline retail staff - says head of Aussie royal commission

4th Oct 18, 4:00pm

by Jenée Tibshraeny

Sales or profit incentives need to go for banks' top dogs - not just frontline retail staff - says head of Aussie royal commission

BNZ providing FMA 'proof points' to prove it's better behaved than Aussie banks

BNZ CEO Angela Mentis says systemic bad bank behaviour happening in Australia is not happening at BNZ, but the NZ bank's not complacent

4th May 18, 9:54am

by Gareth Vaughan

BNZ CEO Angela Mentis says systemic bad bank behaviour happening in Australia is not happening at BNZ, but the NZ bank's not complacent

Sales culture and incentives: A deep dive into where banks in NZ are at

Banks' attempts to be more customer-centric by changing the way they incentivise staff slammed by union for being superficial; FMA optimistic about impact of financial advice and insurance contracts law changes

3rd May 18, 2:10pm

by Jenée Tibshraeny

ANZ slashes incentives that encourage hard sell tactics

Less 'would you like fries with that' and more 'needs-based conversations' expected from ANZ staff, as bank changes its remuneration structure

16th Jun 17, 12:04pm

by Jenée Tibshraeny

Less 'would you like fries with that' and more 'needs-based conversations' expected from ANZ staff, as bank changes its remuneration structure

FIRST Union urges big banks to put customers ahead of sales

Bank workers union offers to work alongside ANZ NZ, ASB, BNZ & Westpac NZ to implement culture change to a customer service first approach from a sales first approach in retail banking

27th Apr 17, 10:47am

by Gareth Vaughan

Bank workers union offers to work alongside ANZ NZ, ASB, BNZ & Westpac NZ to implement culture change to a customer service first approach from a sales first approach in retail banking

Banks 'will change the way they pay and reward their retail staff'

Major Aussie banks move quickly to act on recommendations they change how they pay retail banking staff, NZ banks 'support customer first obligations'

20th Apr 17, 9:36am

by Gareth Vaughan

Major Aussie banks move quickly to act on recommendations they change how they pay retail banking staff, NZ banks 'support customer first obligations'