Exclusive: Westpac is axing bonuses for its 2300 tellers and will instead pay them fixed wages | clancyyeates
Westpac is axing bonuses for its 2300 tellers and will instead pay them fixed wages, a move it says will allow staff to focus solely on serving customers, as banks try to regain the community's trust.
“What it means for our tellers is they can actually just be concerned about providing great service to our customers and making sure that they do whatever they can to meet our customers’ needs,” Mr Frazis said.Banks have already cut the use of sales targets for many frontline roles, but the change eliminates variable pay for the bank's tellers completely. It comes after the banking royal commission ramped up pressure on banks over the incentives they pay staff.
The national secretary of the Finance Sector Union, Julia Angrisano, said the move was a “step in the right direction” but it should be adopted more widely in the bank. ANZ Bank pays tellers some variable pay based on "balanced scorecard", 15 per cent of which is based on referrals.
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