Barclays has today announced a new incentive scheme for front-line employees. As of 1 December, all of its 18,000 branch and call centre staff will receive incentive payments based wholly on customer satisfaction.
What’s more, the scheme will reward the customer service performance of branches and areas rather than that of individuals.
This marks a significant change to Barclays’ existing incentive scheme, which was introduced last year, where incentive payments are based on a mixture of customer satisfaction and sales.
Barclays’ new payment structure follows the Co-operative Bank’s announcement last week that they are changing one of their bonus schemes to a customer service based scheme.
Service over sales
Barclays chief executive Antony Jenkins said: ‘We believe that becoming the “go to” bank is about helping people and businesses to 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.
‘That is why at Barclays we are determined to ensure that incentives for our frontline staff are based purely on service, and we will now end commission-based incentives as we continue our journey to rebuild trust and put the customer right at the heart of our business.’
Which? Big Change campaign
Barclays’ and The Co-operative Bank’s announcements follow the launch last month of the Which? Big Change campaign that calls for banks to put customers at the heart of their business. Currently only one in ten people say they trust bankers to act in their best interests.
Prioritising customer service over sales through appropriate bonus schemes is one of the main focuses of the campaign.
Which? chief executive, Peter Vicary-Smith says: ‘This is a great move by Barclays and meets one of our Big Change demands, that banks must put service over sales. Introducing a bonus scheme that rewards customer service is good news, and we’d like to see all banks and building societies doing the same.
‘Consumers have been let down by the banks for too long. We need to see Big Change in banking now and a return to banks for customers, not bankers.’