Unite slams banks' sales processes

12 November 2009 2:02 pm | By Helen Pow

Unite says bank workers are struggling to meet unachievable sales targets many of which have not changed since before the credit crunch and part-nationalisation of the banks.

The union fears there is pressure on staff to promote financial products, often to poeple who cannot afford them, and has launched a national campaign for staff in the Lloyds Banking Group to fight for a change in the culture of the UK banking system.

Unite says the time has come to end the link between sales and staff pay in the financial services industry and is calling for a new focus towards high standards of customer service and fair wages for all staff.

National officer Rob Macgregor says: “Unite has today launched a major campaign to end aggressive sales targets at Lloyds Banking Group. In
this bank, which is part owned by the taxpayer, staff should be providing an excellent service to customers and being paid fairly for doing so.

“Instead we have a sales culture which encourages staff to sell customers products that they do not want or need. Unite has seen that failure to meet targets has meant staff losing out on money.”

Unite is calling on Lloyds to replace the bonus culture with a pay system which gives staff fair pay that does not rely on selling products to
customers and encourages quality service as opposed to sales.

A Lloyds spokeswoman says: “Our reward policy supports our business strategy to build long-term relationships with our customers. Individual targets are therefore set across a number of areas not just sales, all of which are taken into account in determining overall reward.

“Bonuses make up just one part of our total reward package. We have a clear reward strategy to ensure we can attract, retain and engage with our people to deliver a high performing business managed on a prudent basis.”

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