Research shows dangerous levels of stress in BNZ

In December 2005 Finsec, the union for bank workers, commissioned independent research company, AssessSystems, to measure the level of workplace-related stress within BNZ and to find out the causes of that stress. The research is now completed and the findings show very high levels of stress compared to other workplaces.

The results show that 3 out of 10 respondents at BNZ find their work very stressful and 1 in 20 respondents are extremely stressed by their work.

It also shows that the causes of that stress related to factors that are unique to the BNZ, rather than just being normal stress that all workers experience. The biggest cause of stress for staff was the bank’s use of scorecards, performance targets and pressure to sell to customers. Understaffing was also a common cause of stress.

Here’s what some BNZ workers told AssessSystems about their work conditions:

“Not so many meetings about sales - where did the enjoyment in my job go? Stop hounding us.”
“Selling outside work hours to family and friends can be embarrassing. Feel like Amway Agent when people obviously don’t want to know.”
“It’s always at the back of your mind. Have to make sale to get points to try to reach targets to get good PMF. Can’t relax.”

Since Finsec sent this evidence to BNZ in April the bank has refused to meet with the researcher who compiled the evidence. It has argued that it is already addressing the issues in a working party and it dismissed the research, by mistakenly contesting its sample size (which was valid for social science research).

Workplace stress is a dangerous health and safety issue. Prolonged stress can result in clinical depression, ‘burnout’ and heart disease. An organisation with stress may have numbers of staff with low morale, high sickness absence or other absenteeism, staff turnover, and low productivity.

The Health and Safety in Employment Act requires that a workplace which has a health and safety hazard (such as one that causes stress) brought to its attention is required to take all practical steps to identify and eliminate, isolate or minimise hazards.

The full independent report into stress at Finsec is available here.