The Co-op launches first ‘customer-service only' bonus scheme

The Co-operative Bank has launched a new quarterly bonus scheme which rewards branch staff solely on their customer service performance.

In a first for high street banks, sales targets for customer-facing staff at The Co-operative will be removed altogether in the Customer Service Bonus scheme. Instead staff will have to demonstrate excellent customer service to receive a quarterly reward.

The bank has always rewarded staff on their delivery of customer service, and The Co-operative is regularly voted the best high street bank for customer service, but until now it has not been the only element of its quarterly reward scheme.

Barry Tootell, Chief Executive at The Co-operative Bank, said: "Sales performance has only ever been a very small part of our quarterly reward scheme, but now we are removing this measure. We have a longstanding track record in delivering excellent levels of customer service, and the experience of our customers when they visit us in a branch or call us on the phone has always been a priority.

"The banking industry needs to start listening to the many people who remain disillusioned with the way it operates and start taking real action to address the needs of their customers.

"Many people are crying out for a high street bank they can trust and we are committed to providing customers with an alternative which puts their needs and experience first, rather than seeing them as sales targets.

The Customer Service Bonus Scheme, which will be launched throughout The Co-operative's 342 branches today, rewards the customer service performance of branches rather than individuals. A similar scheme will be launched for the bank's contact centre employees next year.

BSU and Unite, the two unions representing CBG branch staff, added: "BSU and Unite have been in discussions with The Co-operative Banking Group about their reward scheme and are supportive of its decision to now concentrate solely on customer service levels. It has excellent staff working in the branch network who pride themselves on their customer care, and we welcome the move to reward them for this alone."