Last Friday 14 October 2011, FSU Representatives handed CBA Management at least 466 individually signed letters disputing targets on behalf of FSU members working in six retail areas of NSW. The letters are the first stage of the grievance procedure in CBA and they call on CBA to reduce performance targets to a level that is fair and reasonable in the current market. They also request that the targets be adjusted for time spent away from normal duties (e.g. leave).

With economists predicting a downturn in credit growth and tough economic times ahead, it is important that performance targets are reasonable and flexible. This flies in the face of CBA’s decision to arbitrarily increase targets across retail banking for 2011/2012. Members have also spoken about the added pressure and stress they endue trying to achieve these inflated targets. Even those who have managed to achieve their targets often report to FSU that the stress they live under daily to get over the line is having a detrimental effect on their health and this needs to be addressed.

With our industry under increased public scrutiny, FSU members in CBA RBS are saying clearly that sales quotas are not the same as customer service and an offer of a free drink at the end of year party doesn’t compare to the huge executive bonuses being paid at CBA.

What’s Next?

The 466 letters included a request for a response within 14 days and nominate FSU as each member’s representative in discussions that flow from the grievance. In the mean time all enquiries from line management about the grievance should be referred to the FSU office.

Get Behind the 466

Members from other areas in retail banking and other business units who have similar concerns about their performance expectations should consider joining the 466 NSW retail bankers by raising their own grievances about targets and performance. Talk to your workplace FSU rep or call the FSU Member Rights Centre to discuss how to get involved.

Almost 500 requests have now been made for CBA management to respond in writing within 14 days, a target members hope CBA can meet.

Update: As of 20th October 499 signed letters have been handed to CBA management. Keep up the good work!

Related Media: 
Banks are handing out bonuses to staff who upsize your debt - The Sunday Telegraph, 16th October