Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a660414
HSBC scraps sales incentives for branch staff
by Alex Steger on Feb 21, 2013 at 07:47
HSBC has joined Barclays and the Co-operative bank by scrapping sales-based invectives for its branch staff with performance instead being measured by customer satisfaction.
The Co-op and Barclays stopped paying branch staff by commission last year.
HSBC said it made the changes, which affect 20,000 staff, at the start of the year.
In September 2012 Martin Wheatley, Financial Services Authority managing director, warned banks to stop treating customers as people to sell to, and unveiled the findings of his review into bank incentive schemes.
News sponsored by:
Today's top headlines
- Autumn Statement: Gov't rejects changes to drawdown regime
- Autumn Statement: Gov’t scraps stamp duty on ETFs
- Autumn Statement: Gov’t launches NIC top-up scheme for flat-rate state pension
- Gov't confirms £10.5k personal allowance and marriage tax breaks
- Autumn Statement: OBR doubles forecast for UK growth to 1.4%
Challenged by growing risk aversion?
Challenging financial markets over recent years have resulted in growing risk aversion among British savers and led many to seek safety in cash. Click here for more.
More about this article:
by William Robins on Dec 05, 2013 at 12:20