BNZ plans to raise sales targets by up to 5%

Transistor Radio Poor old BNZ had a bit of bad day publicity-wise last weekend with newspapers from Manawatu to Timaru reporting not only that BNZ plans to raise its sales targets for some staff by up to 5% but also that this could mean more pressure and stress on staff and customers:

The Dominion Post wrote:

“The Bank of New Zealand plans to increase the pressure on staff to sell more debt to customers, despite calls from the Reserve Bank for banks to moderate their lending.”

TVNZ noted:

“BNZ customers are about to come under more pressure to get into debt. The bank has increased sales targets for staff, meaning they are expected to get more people signed up to loans and credit cards.”

And Radio New Zealand linked the story to the bank’s newly created CSC role, which will also have targets:

“Finsec says the bank is poised to pick up the shortfall in available credit after the collapse of seven finance companies in the past fifteen months.”

Finsec members are campaigning in the BNZ to have a review of targets that has an aim of improving the whole system.  Targets were identified as the issue the the BNZ that most members and non-members want to see fixed.

(thanks to Jason B for the photo)


1 Response to “BNZ plans to raise sales targets by up to 5%”

  1. 1 The other side of target bonuses « …the gossip Trackback on 2 October, 2007 at 1:09 pm

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