Barclays’ frontline employees will no longer receive bankers' bonuses based on sales but will be paid according to the level of service given to customers.
The bank's new 'Service Incentive' programme will see Barclay’s 22,000 retail staff earning commission based on how satisfied customers are with the service provided, as well as the extent to which they would recommend Barclays. Group chief executive Antony Jenkins, who announced the new incentive scheme, said: “We believe that becoming the ‘Go-To’ bank is about helping people and businesses get on. Therefore, the key to Barclays long-term success is the level of service we provide, not how many products we sell. We want customers to choose Barclays because of the great service they receive from us.” The move follows a similar employee bonus scheme introduced by The Co-Operative Bank last week. Barclays’ new employee bonus structure will start on 1 December.
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It seems wierd to me that this wasn't part of the equation all along....but I'm probably naieve.
-- Karen Drury
As somebody who works for Barlays i confirm this is just a way of saving money, penalising ordinary people who earn circa 20k in branch so the 'big wigs' can continue to get paid vast amounts while claiming they are changing the culture! After the announcement the first thing we were told by our manager was we still had to sell or we would loose our jobs. So now Barclays use fear to force people to sell rather than an incentive to encourage hard work.