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Home / Business / Economy / Official Cash Rate

Staff get five days to learn bank job

1 Nov, 2001 09:30 AM3 mins to read

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By KEVIN TAYLOR

Plans to give frontline staff in the People's Bank only five days' basic training have appalled the Finance Sector Union and raised the eyebrows of a banking academic.

People's Bank spokesman Bruce Thompson told the Business Herald that training for 500 staff was starting.

Of the 500, 450
would get a week of training and the rest would be given training in more specialised areas.

Mr Thompson said the training would be robust and would be followed up.

Staff already had skills in financial transactions and customer service.

But Act MP Rodney Hide said other banks were shocked at how little training was planned, and NZ Post staff were worried.

Finsec general-secretary Don Farr said five days' basic training was appalling.

Other major banks insisted on a fortnight, and newcomers went into the job surrounded by experienced staff.

"Here, everybody has to learn everything all at once."

The Engineers Union, not Finsec, covers new bank staff and its general secretary, Andrew Little, said he had not heard of concerns about the training.

He said staff already handled a range of financial transactions, but he conceded that he did not know the details of the training, which had just been negotiated with the union.

The director of Massey University's Banking Studies Centre, David Tripe, said five days' training would not leave staff "particularly well equipped".

"There's going to be a real limit on what they can learn in five days."

He said serious issues could arise about how well staff would cope with the initial burst of inquiries from potential customers.

The bank opens its doors early next year.

It will have about 300 branches, the biggest network of any bank.

Mr Tripe questioned whether the training would be enough to deal with sophisticated products and inquiries.

Mr Thompson said Post Shop staff already handled more than $2 billion of transactions, which meant they had certain core skills.

He would not reveal the cost of training, which would cover banking transactions, bank products, customer service and sales, and legislation.

Staff handling mortgages would also get a week of basic training.

Mr Thompson said the programme included follow-up visits to branches, and more training would be given as required.

Mr Hide said the potential for mistakes would be huge.

The overwhelming concern of Post Shop staff facing the change was their training and whether it would be enough.

"Here's a major new role they are expected to fulfil and they feel they have not had the support or training to do the job."

Big launch top secret

New Zealanders will get their first glimpse of what the new People's Bank will look like - they may even be told its name - at an unveiling ceremony on Monday.

Until then, the exercise is being covered with a veil of secrecy.

Bank spokesman Bruce Thompson yesterday refused to say if the event would include revealing the bank's name.

He also would not say where journalists would be taken to see a "prototype" branch, which has been set up in a Wellington warehouse.

nzherald.co.nz/peoplesbank

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