KEY POINTS:
Finsec members made a detailed written submission to the BNZ on the proposal to change targets for the financial year 2008-2009. This submission was based on feedback from over 200 Finsec members.
Finsec members oppose the increase in targets. Our submission makes this point very clear and includes a number of recommendations to change the BNZ’s proposal.
The bank has committed to consider Finsec members recommendations and has said it will respond to our submission tomorrow, Wednesday 1 October.
Finsec members oppose changes to targets
224 Finsec members provided detailed feedback on the BNZ’s proposal to change targets. Most of the feedback opposed the bank’s proposed changes. Key points made in our submission included:
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The current economic climate means the bank’s proposed targets are unrealistic
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Staff will be financially disadvantaged by the targets getting harder
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Tellers oppose any increase in referral targets
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CSCs oppose the 66.6% increase in connections
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BAs and PMs oppose the productivity measure of 20 sales per week
Objections put to Chris Bayliss
Members of our Union Council and Finsec staff met by conference call with BNZ Retail GM Chris Bayliss on 10 September. On this call we identified the key changes Finsec members want to see made to targets.
Proposed changes to targets
Finsec members have made the following proposals to the bank:
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Targets remain the same as this year
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The BA and PM productivity measure should not be implemented
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Create a third tier of branches with lower targets
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Targets are set on a 45 week per year basis to take into account other forms of leave for example sick leave etc.
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BNZ and Finsec work to develop a competency pay system
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Targets should be de-linked from pay rises and pay progression and should just apply to bonus payments.
Email union@finsec.org.nz for a full copy of our submission.
Bank to respond to Finsec proposals
The BNZ has said it will respond to Finsec members’ proposals on Wednesday 1 October. We hope the bank will seriously consider the recommendations we have put forward and make appropriate changes to their proposal.
Due to a confidentiality agreement with the BNZ we have not been able to discuss the proposed changes publically.
