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Problems and Issues at OzBank

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ConMan had advised the bank beforehand of the new strategy´s announcement however, they neglected to talk to the staff during this time. This may have been seen by the personnel and the union as intruders arriving into the workplace and making decisions about employees, making decisions of where the employee will end up, and making decisions without the inclusion in the decision-making process. Alex Faulkner, OzBank director of Human Resources claimed that the staff had been abreast of the restructuring strategy. The union claimed that the new strategy was destroying the employee morale. It may be extrapolated that the employees had not been taken into consideration to include them in the process of where they will end up.Both the Federal Employment Minister and the union agreed that OzBank´s decision to reduce jobs would be counterproductive to the banks in general. The union spokesperson described the OzBank strategy as “visionless and lacking credibility”. Although OzBank claimed that the new strategy was customer focused, others wondered how cutting on personnel would increase employee and customer satisfaction and improve service levels.There was an effort to improve information technology and internal business processes, this was thought to lead to employee job satisfaction and having them deliver better quality service to customers, however, since there had been almost no training in the new system and processes and staff were left on their own to fetch for themselves as best they knew how, this did not work. In this new day and age of state of the art technology and trying to automate everything, much of the personal touch is lacking. Some of the prompts in these automated services leave little to desire and in most cases the customers may be lost, poor quality in the service is rendered, and a taste of bad customer satisfaction remains. The computer hardware may be state of the art, the computer software may be the latest updated version, but somewhere along the line the computer programmer did not deliver the best program and you find flaws that are upsetting to all. This leading to the union to, “…launch a campaign to gather employee support for industrial action against OzBank.” An analyst warned management that these changes would result on management and staff losing the market share in housing and small to medium business finance. OzBank had been less successful than other banks in
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preview essay on Problems and Issues at OzBank
  • Pages: 7 (1750 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Ph.D.
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