Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Wealthy banks can better support staff

Wealthy banks can better support staff

Big profits at New Zealand’s banks show they have ample room in coming weeks to improve pay and bring in less stressful working conditions, the bank workers’ union said today.

KPMG’s annual Financial Institutions Performance Survey, out today, shows net profit after tax in 2013 at New Zealand registered banks rose from $3.7 Billion to $4.0 Billion – an 8.61 per cent increase.

“Bank profits are sky high, but the intensification of pressure and stress on workers within the industry is at an all time high also,” said Maxine Gay, Retail & Finance Secretary at FIRST Union.

A survey of women in banks released in November found that many are experiencing high levels of stress as a result of the industry’s aggressive sales targets regime, she said. Not reaching targets can result in performance management plans, disciplinary hearings, and ultimately dismissal.

“New Zealand’s big four banks make billions off their New Zealand customer base, and they should lead from the front in their work practices. Instead, the banks are systematically creating stress for workers who are subjected to completely unrealistic sales targets,” Maxine Gay said.

“The scale of profits among the big four banks needs to be questioned by New Zealanders, who are constantly sold the story, today included, that mega profits are a good news story for the New Zealand economy.”

FIRST Union will be entering wage negotiations with Westpac over the coming weeks. Westpac employees will be interested to see what salary increase Westpac offers in this high profit environment, Maxine Gay said.

Ends.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On Anne Tolley’s
Callous Folly

Years ago, I remember someone in the Heath Ministry telling me off the record that regulatory oversight in this country largely consisted in ‘waiting for something to turn green or fall off somebody’ before the authorities would swing into action...

Last week’s conflict between Social Development Minister Anne Tolley and District Court judge Carolyn Henwood illustrated quite a few of the flaws in the system. More>>

 

Members’ Bills: Greens' Domestic Violence And Loans Bills Pulled From Ballot

Jan Logie’s Domestic Violence-Victims' Protection Bill introduces workplace protections for victims of domestic violence, including allowing victims to request paid domestic violence leave for up to 10 days... Gareth Hughes’ Bill allows Kiwis with student loans to defer their student loan repayments into a first home savings scheme. More>>

ALSO:

IPCA: Police Did Not 'Deliberately' Use Pepper Spray On 10-Year-Old

"When spraying the man, the officer did not properly consider the necessity of using pepper spray in a confined space, the likelihood that it would affect the other innocent passengers or the fact that he was using a more powerful spray." More>>

ALSO:

Donor Bill Passes: Full Income Compensation For Live Organ Donors

Unanimous cross-party support for the Compensation for Live Organ Donors Bill represents a critical step in reducing the burgeoning waiting list for kidney donations, according to Kidney Health New Zealand chief executive Max Reid. More>>

ALSO:

Earthquake Response: Emergency Legislation Prepared

Three new Bills have been drafted in the wake of the magnitude 7.8 earthquake on November 14 to ensure the government can enable affected communities to respond quickly and efficiently. More>>

ALSO:

Housing MPs: New Building(s) For Parliament

A new building will be erected on Parliament grounds to house Members of Parliament and their staff who currently work in leased accommodation in Bowen House. The plan has cross-Party support, apart from NZ First, said Parliament’s Speaker, Rt Hon David Carter. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news