Fifth Third – “A busy branch is the place to be, otherwise you will be on the phone constantly trying to drum up business.”
1 of 1 people found this helpfulPros
- Many open opportunities to advance within the company
- Branches with heavy foot traffic quite easily meet their sales goals (judged on a points system)
Cons
- Very aggressive sales environment, more concerned with numbers than finding appropriate products for customer needs
- Micro-management - multiple conference calls throughout the day to report production and points (not "what have you done for me lately?" but "what have you done for me in the last four hours?")
- Lack of training - bankers only complete one week of teller training before they are sent to their branch and are expected to sell, so unless there is an experienced individual in the branch you will flounder until you teach yourself
- The many opportunities for advancement seem to come from the high turnover rate
Advice to Senior Management
- Try to evaluate why there is high turnover in certain locations. The company would save a lot of money on training and turnover if they were able to keep some of the quality people who leave before they've established themselves and solidified their customer base. The high turnover also negatively impacts the customer perception of Fifth Third resulting in low customer loyalty and trust.
- Please develop a more thorough training program. Even individuals with previous banking and sales experience need to learn about Fifth Third's specific products and guidelines before being able to sell well.