Today we have an unprecedented opportunity. Our nation is hungry for effective solutions in the finance sector; with your contributions we can build them into our final submission to the Royal Commission.
Take the Survey and Help Make Finance Fairer
The Royal Commission is uncovering the ways that employers in the finance sector have prioritised obscene profits and bonuses for executives, above looking after staff and customers. Toxic culture in finance institutions has been encouraged by the executives who benefit most from conflicted remuneration and poor customer outcomes.
We now have a once-in-a-generation chance to change the way our industry operates. With the revelations from the Royal Commission, financial institutions are no longer able to pretend nothing needs to change.
We know that real solutions for our industry will come from those who know it best – finance workers.
Please complete the survey and share with your colleagues. Together we will deliver real change to our workplaces and our communities.
Better Finance Culture and Improved Customer Outcomes
Throughout this year the Royal Commission has uncovered explosive scandals in finance. In response to the revelations, finance institutions have been at a race to prove they’re listening and keen to improve.
FSU is seeking your feedback about changes that have been implemented to date, and whether they’re leading to better workplace culture and improved customer outcomes.
Sedgwick Recommendations 12 Months On
It’s also been 15 months since the Australian Bankers’ Association published its own review into product payments and commissions in retail banking. It made 21 recommendations about delivering improved customer outcomes.
You can review key Sedgwick recommendations here.
With the Royal Commission discovering many of the issues that were meant to have been addressed after the Sedgewick review, the culture of sales pressure and conflicted remuneration is in the spotlight again today.
This is Our Chance to Change The Rules
At the same time, the ACTU’s Change The Rules campaign is highlighting how workplace culture needs to change across Australia. Key points from the campaign apply to the finance sector, as we have seen:
- Pay and culture in our sector are broken.
- Self-regulation doesn’t work.
- Employers have too much power. We need to Change the Rules to deliver a new industrial framework that includes industry bargaining. Only then can we secure fair, industry-wide pay increases.
With your insights, we can deliver real solutions and make the finance sector a fairer place to work.
Please complete the survey, at www.bit.ly/Big-Finance-Survey, and share with your colleagues.
Any questions, drop us a line. You can call MRC on 1300 366 378 or email firstname.lastname@example.org