CBA changes teller incentives
The Commonwealth Bank has taken another step in its campaign to restore its public image, announcing changes to the it remunerates frontline staff.
The big banking group claimed today the changes would see frontline staff being rewarded for delivering better customer outcomes, not financial outcomes.
Announcing the changes, Commonwealth Bank executive general manager, Angus Sullivan insisted that any links to financial measures had been abolished.
“This change will reward our tellers for continuing to provide superior service to the millions of customers we serve around the country,” he said. “We have been listening to our customers and this is another step to ensure banking is fairer, simpler and more transparent. Customers can be confident that our tellers are not being paid to sell them products.”
The bank said the new measures would be backdated to 1 July 2017, the start of the current CBA performance period, removing all financial measures from individual performance and that, in addition, close to 200 Bankwest branch tellers would also move onto a customer-focused remuneration structure from 1 October 2017, the start of the Bankwest performance period.
.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
