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#2204216 - 01/28/19 11:04 PM Incentive plan for frontline employees
jkyle Offline
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Joined: Oct 2015
Posts: 3
Does anyone have an incentive plan for frontline employees that rewards deposit growth that they are willing to share?

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#2204300 - 01/29/19 06:26 PM Re: Incentive plan for frontline employees jkyle
osucpa Offline
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Joined: May 2011
Posts: 1,402
You might find it difficult in obtaining a copy because sometimes it is included in a bank's total incentive plan. At a starting point you might consider accuracy in balancing, number of times out of balance and amount of outage. All of these would be for a specific period of time.

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#2204314 - 01/29/19 07:23 PM Re: Incentive plan for frontline employees jkyle
Rocky P Offline
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Joined: Jun 2003
Posts: 7,423
Florida
jk, welcome to BOL. I cannot answer your question, but caution the bank to ensure there are checks and balances to prevent issues such as reported for Wells Fargo..
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#2204322 - 01/29/19 07:59 PM Re: Incentive plan for frontline employees jkyle
osucpa Offline
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Totally agree Rocky.

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#2204461 - 01/30/19 05:13 PM Re: Incentive plan for frontline employees jkyle
HappyGilmore Offline
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Joined: Jun 2004
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Pulling people out of the ditc...
tracking deposit growth is great, but also make sure you re tracking how long said accounts are opened. more than one bank has done a "new account incentive" and somewhere down the road found out that family members were just closing one account and opening another, sometimes monthly, to inflate the incentive for the employee.

we no longer have a front line incentive
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#2204465 - 01/30/19 05:26 PM Re: Incentive plan for frontline employees jkyle
P*Q Offline

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Joined: May 2001
Posts: 8,458
Somewhere
The original poster spoke of incentives for deposit growth (one of many), not # of accounts, etc. I'm not at liberty to share my bank's overall plan however can tell you that the overall bank has set a goal for total deposit growth. That # is then broken down amongst the various branches based on a series of factors. Each branch is responsible for reaching their assigned deposit growth figure in order for an incentive to be considered (also assumes acceptable performance review rating).

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