Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ANZ – the stress bank – fails again

Thursday, November 22, 2001

For immediate release

ANZ – the stress bank – fails again

The ANZ’s management structures and policies and management support fared worst in a University of Auckland’s survey of staff satisfaction at four major banks – ANZ, BNZ, National Bank and WestpacTrust.

Finsec gave the university access to its members in the four banks. ASB management refused access.

ANZ employees were the least satisfied with management structure and policies. They also gave the bank the lowest score to the vision provided by the organisation and to opportunities for advancement.

“This doesn’t surprise us,” said Finsec’s Geraldine Molloy. “The results match the University of Auckland’s survey showing the low level of customer satisfaction with the ANZ. They are also consistent with Finsec’s experience of a bank which has been deeply reluctant to do anything to bring down stress levels among staff below top management level.”

Ms Molloy added that a recent Finsec/ANZ working party on stress was told that the bank refused to make allowances for system’s failure and error in its staffing calculations as it did not want to ‘insitutionalise error in the ANZ’s culture’.

“They may not want to institutionalise error, but they seem to have had no problem with institutionalising stupidity,” Ms Molloy said.

The survey was conducted by postgraduate student Mr Camryn Brown, of the University of Auckland Business School, Department of Marketing under the supervision of Mr Bodo Lang and Dr Mark Colgate.


© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>