Member submission via emai:
The main problem i have with our targets at my workplace is that they are sometimes not achievable in the logistics and type of clientel you get at your particular branch..
I work at a bank in a shopping mall and find most customers want to come in and quickly deposit money or withdraw money and get on with their shopping...
Alot of times you discuss sales opportunities and they often reply that they will sort that out at their own local branch or have spoken to someone in regards to a product already at their local branch..
Also due to the number of people that come into my branch it's very hard to spend a significant amount of time with one customer with the volume of customers that come in..
I'd like this as well as the rate rise be taken into consideration when it comes to targets
Posted by
lshingles
at
28/03/2008 11:50:58 AM
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Member submission via email:
Hi, I would like to express my concern regarding my ability to meet my targets, specially when I only started in my new role September 10th 2007 and I am expected to catch up with my fundings and new Business from day 1. Usually takes a Relationship Manager 18 months to be on board.
Do you call that a reasonable target and expectations from an employee?
MB, CBA
Posted by
lshingles
at
28/03/2008 11:54:13 AM
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Member submission via email:
the branch I work at requires all CSR1's to achieve "one per day" referrals. This is sometimes difficult when there are other tasks to complete and you don't get to face a lot of customers for the day, or if they are regulars that don't have any requirements beyond their transaction. It can be frustrating, though last year my target was 4.35 for the week (4 days).
JO WBC
Posted by
lshingles
at
28/03/2008 11:55:00 AM
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Member submission via email:
As a branch Lender for St.George my targets are set each year by middle management with no consultation. I have lodged an objection and the result was a curt statement that the targets would not be adjusted. There is no mechanism for adjustments due to interest rate rises or changes in market or individual circumstances.
Posted by
lshingles
at
28/03/2008 11:57:20 AM
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Member submission via email:
Just wanted to say that Bank's made money before there were sales targets.......I get tired of hearing how performance management may be the only way to get some people to reach their targets....I feel like it's always directed to me and my other colleagues...sure some weeks I don't reach target but not for the want of trying....I refuse to bully my clients as I hear other colleagues doing...my mortgage and my fuel and my food bill and everything else of mine has risen but has my pay???? NO!!!!! We may need to sell our house to but renting is so expensive as well....when will it end????
TW
Posted by
lshingles
at
31/03/2008 3:48:53 PM
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Member submission via email:
I have been in a lending role for the past 20+ years - both in banking and chattel finance.
I am appalled at the lending practices of recent years.
We have been hearing from the previous Government for years about how well the Australian economy is running - the bulk of it is by way of debt.
In my view:
* the practice of banks setting high targets (and incentives) regarding sale of credit is dangerous
* affordability exercises obviously need to be strengthened
* Credit Cards should be controlled through one National point - would limit consumers having several cards
* forwarding of letters to clients from Credit Card Departments advising automatic approvals of credit card limit increases should be illegal
* genuine deposits should be required for purchases such as houses, cars etc. For many borrowers, the ridiculous increase in Govt home loan
grant is the only funds that some borrowers have had to purchase a house - i.e. no pattern/evidence of savings ability
* all programmes regarding buy now and pay later (including lay-by) should be banned - i.e. no interest/payments for 4 years etc.
* finance brokers need to be registered and required to have a minimum knowledge of credit matters (many are purely sales people)
Self regulation amongst the various lenders will never happen. There will still be the bit about "if we don't do it somebody else will". They will need to be controlled by regulation.
MW, Qld
Posted by
lshingles
at
1/04/2008 1:27:09 PM
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Member submission via email:
I work in general insurance & the instances of customers having problems meeting thair "pay by the month" insurance comittments is increasing.
This makes it difficult to "up" or "cross sell" other products or additional coverage because the person has informed me that they are struggling.
I have recently had complaints from customers (probably pensioners) re annual premium increases of $24.00 & $40.00, amounts which previously could have been "lived with"
When I took out my fist home loan in 1976, my bank manager would not approve a loan that represented more than about 25% of my monthly income. This left plenty of flexibility for contingencies, a luxury present day borrowers lack!
GF
Posted by
lshingles
at
9/04/2008 8:59:41 AM
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Member submission via email:
I have been a home loan lender with CBA for just over 6 yrs now; and with CBA for nearly 10 yrs.
Yes - we are encouraged to ask the customer to 'round up' that topup for their new car; so that 'they dont have to come back to the bank in the future for more borrowings'. So we are actively encouraged to ask the customer to borrow more than they really need.
Apart from this; I would really like to see the bank challenged to just show us one person; one single member of the home loan lending staff; who has met every single one of their KPIs and targets without working one single extra hour.
I really dont think they can.
We here at CBA CSC Brisbane have been told that we do not need to work extra unpaid hours. Apparently this is our choice.
But surely; if the bank cannot show us just one lender who can meet all of their targets and KPIs without working the extra hours; then the targets are too high. Simple.
And of course; not to mention the effect on work/life balance.
There are people here in the CSC who work the extra hours and do not winge about it because they are afraid they will lose their jobs; or come under scrutiny. Unpaid extra hours.
Yes I am aware CBA is amongst the better salary payers in the industry - but if our targets are too high; no amount of pay can compensate for poor work/life balance.
JJ, Qld
Posted by
lshingles
at
10/04/2008 1:34:30 PM
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Member submission via email:
i am a CSO ( customer service officer ) At St George Bank in the ACT , and like the comment above , i too work in a shopping centre , i have been with the comapny for a little under 6 months now , and lately i go home feeling very depressed and belittled , i ( and others ) are always questioned as to why we dont reach our profile targets
this is what a cso must do WEEKLY at St George ACT
profiles 20
Savings and investments 15
home loan referrals 10
wealth 5
trans accounts 15
insurance 5
fixed terms 10
how on earth can i achieve all of this ??
i have come across from a totally different career path
and im still learning my job but i am constantly made to feel that i am an underacheiver and that i dont push hard enough and i dont listen to objections ,
if someones says no to me , it means no , yet this apparently is an excuse on my behalf , im sick of coming home depressed and feeling like my job is on the line
i though hospitality was crap , i suppose i miss the water now im drowning
Posted by
lshingles
at
13/05/2008 4:12:51 PM
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I work for the CBA, and as with everyone else, I KPIs have recently changed with the financial year.
Our new KPIs (on which our performance is measured) have seen a 100% increase in converted referrals (which means we have to rely on someone else to close the deal), as well as 100% increase in credit cards and credit related products.
On top of that, we are also expected to put through 5 referrals (1 being for general insurance), 2 new accounts, 2 credit limit increases and 1 credit card application per day, in a system the Bank calls "5 and 5" - a way of ensuring that we are "offering" our customers products.
Personally, it feels very much like flogging - "So your balance today is $x - would you like a credit card with that?"
It's also annoying that our managers and team leaders constantly tell us how easy this is to achieve - despite the fact that not a single one of them has ever had to do so.
I dread going into work every day. The moment I walk in the door, I know that my team leader is going to be down my throat about my performance the previous day. Like the previous person, I am tired of being made to feel like an underachiever simply because I have moral standards, where if a person says "no" they mean "no" - not "well, talk me into it and if that fails, open it anyway".
I'm tired and depressed, and feeling increasingly isolated. And since I haven't been in my job for quite 12 months, I barely have a leg to stand on.
Posted by
2801797
at
23/07/2008 1:01:28 PM
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