After years of campaigning, FIRST Union applauds ANZ for being the first New Zealand Bank to do away with sales targets
Following heated debate around sales targets in the banking sector in recent months, and years of campaigning by Union members, FIRST Union is very glad to see that ANZ has this morning announced the removal sales targets from its frontline retail staff.
FIRST Union National Finance Sector Organiser, Stephen Parry, says that a toxic sales culture is rife in the New Zealand banking sector, and is pleased to see that ANZ has signalled a major move in the right direction by removing sales targets.
“Union members at ANZ and the other major banks have for years, if not decades, been raising the issue of inappropriate sales pressure. This pressure is about much more than whether or not a worker receives a bonus payment it’s about a day-to-day culture where sales come first and service comes second, and where workers risk disciplinary action if they do not meet their targets.”
Mr Parry says the Union has recently concluded a round of collective bargaining negotiations with ANZ where the removal of sales targets and sales pressure was the main point of discussion.
“On top of today’s announcement, we are also in the process of taking out an offer to members which includes a ban on performance management around sales, and a commitment from ANZ to move away from a sales-based culture to one based on ethical behaviour and customer service”.
He says ANZ is the first major New Zealand Bank to take these steps, and expects that other Banks will soon fall into line.
“FIRST Union applauds both the bank and the Union members who have been pushing for this change for years. ANZ has now set the bar we hope that the other banks will now do the right thing and step up to the plate. Customers and regulators are demanding more ethical business practices from the banks, now is the time for the other banks to fall into line.”
“The removal of sales targets will have a huge effect on Union members. They’ll now be able to focus on getting on with their jobs and doing well by their customers without having to worry about getting in trouble if they do not sell enough bank products. Today’s announcement is big win for both bank workers and consumers.”