Dear HFM,

Home Finance Manager’s are seeking changes to the new HFM Scorecard to ensure it involves realistic targets and provides genuine incentive to achieve high performance.

Many HFM’s who have given committed service and achieved reasonable bonus rewards previously are now unlikely to achieve a bonus at all.

Concerns regarding the new Scorecard include:

• Significant increases to lending targets.
• Unreasonable changes to Mortgage Opportunity Bands. 
• Mortgage Rework Reports include matters beyond the control of HFM’s and further
  increase workload.
• Cross Sales targets have increased and become a mandatory part of the gate opener. 
• Serious concerns regarding the validity of the Net Promoter Score and how it applies to HFM’s.

Additionally the changes exacerbate existing problems in relation to the lack of suitable relief and adjustment of targets while on annual leave. 

We seek that Westpac Management meet with the Finance Sector Union and a delegation of HFM’s to discuss our concerns and develop a fairer Scorecard that involves realistic targets and provides a genuine incentive to achieve high performance.

We need to demonstrate to the Bank that the vast majority of HFM’s share the above concerns.

If you share these concerns and wish to work towards developing a fairer Scorecard fill in your details below and submit by the 27 November 2009.