Staff incentives in the banking sector are to come under the spotlight under proposals outlined in today’s Budget.
The government is to ask industry body the Retail Financial Services Forum (RFSF) to investigate to what extent financial services firms' staff targets and incentives led to poor outcomes for consumers and employees, and how they can be reformed.
The RFSF is to set up a working group to engage with banks, mutuals, consumer groups, employees and trade unions on the topic, and has been asked to report its findings to the Chancellor in time for the next pre-Budget report.
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Debbie Lovewell-Tuck is a business journalist with 20 years’ experience specialising in pay, reward and HR. She joined Employee Benefits as a reporter in 2003, before becoming editor in 2015. Debbie is also responsible for editorial content across Employee’ Benefits events, including Employee Benefits Live and the Employee Benefits Awards, as well as hosting Employee Benefits’ webinars.View full profile
