Kiwi banks made changes to staff sales incentives after Australian revelationsSUPPLIED FIRST Union national organiser Stephen Parry is calling for sales targets for bank staff to be outlawed. Karen Scott-Howman from the New Zealand Bankers' Association (NZBA) said the changes to bank staff incentive schemes reflected banks' commitment to "continuous improvement". She said all the major New Zealand banks had committed to implementing the recommendations of the Sedgwick report. The worst of these were the staff incentive schemes based "directly, or solely, on sales performance". The Sedgwick report was talking about Australian banks, but their New Zealand-subsidiaries ASB, ANZ, BNZ and Westpac used similar staff incentive schemes, Parry said.

Source: Stuff May 02, 2018 03:17 UTC