Hard-Sell Tactics Remain

by | Aug 11, 2014

Share this article

Hard-sell tactics within the financial sector are meant to be a thing of the past, but it would appear that the Lloyds Banking group has not yet got the message.

The Daily Mail is reporting that Lloyds is continuing to put pressure on staff to mis-sell a number of products and services including insurance, credit cards and loans.

The news comes just months after the Group was fined £28m for mis-selling. The bank has already shelled out £10bn for payment protection insurance mis-selling.

But a leaked email from a senior regional manager now suggests that the old pressure tactics remain.

Staff are allegedly being warned that unless they create a set number of appointments per day, then they will not be paid bonuses. It is also being alleged that staff are also being sent targets for internal referrals (when a customer is passed to another department for a potential sale).

Lloyds told the newspaper that the email does not represent how they actually behave now and since hearing the allegations within the email, had launched an internal investigation. It did however admit that advisers did have certain targets for appointments. 

Share this article

Related articles

Modern flexibility needed on where and when to work

Modern flexibility needed on where and when to work

New ways of working will look different for everyone, everywhere. While there is a universal acceptance that today’s workforce wants radical flexibility, what that looks like for each organisation will vary significantly. Striking the right balance between remote...

Trending articles