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NAB: It's Time to Rethink Scorecards

Fair Scorecards survey results and “Sedgwick Review” highlight the key issues.

Your feedback through the FSU Fair Scorecards Survey highlighted some serious shortfalls with the FY17 scorecards and the performance management framework currently in place at NAB – and that’s despite the strong protections we’ve negotiated in the enterprise agreement.

The Australian Bankers Association review, the “Sedgwick Review” into product payments, goes even further. It identifies problems with the current scorecards and lists the changes that we need to make so they’re fair for staff and fair for customers.


Your Feedback - Scorecards Not Fair

  • 1 in 5 employees do not have a scorecard relevant to their role in place;
  • Over 40% of employees are not consulted about scorecard objectives;
  • Up to one third of employees do not understand their scorecard objectives;
  • Over half of employees reported not having monthly performance conversations;
  • Over 80% work additional hours to achieve scorecard objectives;
  • One third report that they are not provided with additional training, coaching and time management assistance when they have had difficulty meeting performance objectives;
  • 40% report that performance conversations with People Leaders do not clearly differentiate between performance of role and aspirational stretch targets;
  • Almost 40% feel that they are worse off with the decision to remove mid-year performance ratings.

 

You can read the full report here.


The Australian Bankers Association “Sedgwick Review” Recommendations

  • An overhaul of performance scorecards
  • An end to humiliating sales leader boards
  • An end to re-purposing financial measures as behaviours
  • Acknowledgement that NPS is poorly designed as a genuine measure of customer satisfaction
  • Changes to target setting
  • Changes to management culture
  • An overhaul of senior management and executive pay models

 

Time to Get Things Sorted

While two performance units have conceded that scorecard objectives were excessive and are pulling back on productivity measures, there’s still lot’s more to be done to make scorecards fair again and to avoid the same pitfalls in FY18. That’s why we’ve proposed to meet with the Chief People Officer, Lorraine Murphy, to get things moving.


Membership Matters

Joining the FSU is the best way to get support and advice when you need it and it’s also the best way to restore fairness and balance in your workplace.


For a fairer workplace - join online today.

Contact Details
Finance Sector Union Member Rights Centre
Ph: 1300 366 378
fsuinfo@fsunion.org.au
www.fsunion.org.au

Authorised By: Julia Angrisano, National Secretary


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