As a financial institution, it can be difficult to achieve a
happy medium between revenue goals, customer service, and the
pressure on all levels within the organization to meet these goals.
Unrealistic sales goals, peer pressure and the wrong incentive
mechanisms recently created one of the largest financial scandals
seen since the mid-2000 financial crisis. According to a New
York Times article, employees making as little as $12 an hour
at an international banking and financial services company said
they felt pressured to make their sales goals by reaching out to
friends and family or calling customers after hours as the threat
of being fired lingered over them every day.
The banking and financial services industry is the top industry
victimized by fraud, according to the Association of Certified
Fraud Examiners' 2016 "Report to the Nations," which
also states that a typical organization loses 5% of its annual
revenue to fraud. Adding in the fines that will be most
