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ANZ Spends $800,000 On Staff Junket

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"I want what they're having!"


THE ANZ Bank will spend up to $800,000 on a luxury staff trip next year despite having the lowest customer satisfaction rate of all the major banks.

The bank will send 75 of its top-performing staff on the trip to reward them for up-selling credit cards and insurance products and meeting other sales targets.

The ANZ is yet to finalise details of the trip, but at about $10,000 a head, it will be a holiday to remember.


The bank's budget could stretch to a 10-day trip to Botswana with a sunset cocktail cruise on the Zambezi River, including a private lecture with a professional photographer on how to take the best snaps of elephants in the wild.

Or the bank's best performers could be sent on a luxury yacht cruise around the Galapagos Islands, off the coast of South America, where pampered guests kayak with sea lions, according to travel company Abercrombie & Kent.


The trip is part of the ANZ's CEO Recognition Program, first reported on by the Herald Sun in February just days after the bank increased interest rates independently of the Reserve Bank and sacked 600 Melbourne staff.


An ANZ spokesman said next year's trip was 55 per cent less than what was spent on a luxury five-day cruise on the Silver Shadow liner where each guest had a personal butler. Travel experts said it would have cost $1.75 million.


ANZ staff go on $1.75 million luxury cruise in March


An ANZ spokesman said the bank considered customer expectations when planning the 2013 trip.


"We wanted to reflect the belt tightening that has gone on across the bank in response to the more difficult operating environment and we were also conscious of community expectations," he said.


"We still believe the program is an important way of rewarding junior staff who exceed expectations with our customers."

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  • doyla66
    doyla66 Wednesday, 01 August 2012

    Hi STM
    As you know this is typical. The banks and others spend willingly thinking they have unlimited budgets, etc. Soon they will pull their heads in as, like you, Denise, etc I'm going for them. Thanks for your very good post.
    Cheers, John t.

  • doyla66
    doyla66 Wednesday, 01 August 2012

    appreciate your posts STM

    "also conscious of community expectations" who are they kidding?

    Most customers live under the misconception that banks are ethical, well intentioned institutions that seek to serve us, the customer. Banks have an entire plan worked out for a direct path to very serious debt problems for the customer and unprecedented profits for the banks.

  • doyla66
    doyla66 Thursday, 02 August 2012

    Thanks to BFCSA and member's blogs my husband and I are not like "most customers" anymore :)

  • doyla66
    doyla66 Thursday, 02 August 2012

    ANZ PR FAIL on a big scale

    Thanks, great post STM.

    "We still believe the program is an important way of rewarding junior staff who exceed expectations with our customers."

    In what way?
    Flogging off easy credit to those who fail to get personal and home loan refinances?
    Ensuring that the maximum number of customers are tied into the fleecing credit trap at exorbitant interest and fees?
    They may as well put the vacuum cleaner hose through people's wallets - it's quicker and more efficient!

    Also conscious of community expectations - in what way?
    Talk about spin and PR rot! Do these people believe their own media releases?
    When my communities (BFCSA mates and where I live as well) talk about tightening their belts they don't mean trading the Jag for a Merc! Nor do they mean postponing their trip to Africa!
    They mean we've run out of notches on our belts and can't tighten them any more than we have as the banks are sucking the rest out of our lives.
    Reality check needed by ANZ spin doctors and staff!
    Why don't they "reward" their top fleecers by holidaying in Australia, helping Aussie tourism, keeping the jobs and the dollars here, saving on airfares (plenty of nice islands off QLD)?
    ANZ PR FAIL on a big scale!

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