Global Wealth

ANZ Direct Wealth Sales

2H14 Performance Management and Performance Measures

5.2 - Staff pack

ANZ.800.887.0201

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Overview & Introduction

To give yourself the greatest likelihood of achieving the targets that have been set, you need to understand what is being expected of you, how you are tracking against your individual targets and what you can do to influence your financial performance.

Inside this pack, you will find information relating to:• Performance management and performance measures for Direct wealth• KRA’s and Competencies for Direct Wealth Sales

Performance is reviewed half yearly and annually to ensure employees are appropriately recognised and rewarded for their contributions towards ANZ’s overall results. The Performance process is designed to help employees be the best they can be. Each employee’s contribution is assessed against their individual KRA’s and their behaviours looking at what they did and how they did it. 

Principles behind performance measures• Measuring performance across the whole of each person’s role • Ensure fair and equitable measures• Focus on increasing the number of customers who regard ANZ as their Main Financial Institution• Support an increase in sales productivity

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Performance Management

Behavioural or Compliance related issues• Behavioural and Risk/Compliance flags related to an individual’s performance may be raised at any time. • If a staff member fails to comply with compliance requirements as determined by Policy and it results in a 

compliance breach this can result in disciplinary actions

Hurdles• More than 2 compliance breaches for the half will cap overall PM score at 3• If you are multi-skilled, all matrix has to be met to receive a KRA 3 and above.

Performance Assessment Outcome • An individual that receives a Performance Rating of a 4 or 5, or a behavioural rating of a C, this can result 

in performance improvement plan (PIP) actions

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2H14 Performance Measures - Summary

Direct Wealth Sales KRA Summarv 2H14 Wealth Soecialist Inbound /Outbound

Financial 500/o Genuine Lead to sale conversion 30% Ca ll to Lead Ra te 10% FP/Wea lth/Cross se ll Referrals 10%

Custom er 300/o Produc tiv ity 15% EQ - Experience Qua lity 15%

Process 200/o Process Adhe rence 15 % Adher ence Schedu le 5%

Accountabilities **Compliance breaches Y/N

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2H14 Performance Measures

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What is available to help you?

Lever

Tools& Develo{>ment

Activities

Expected Behaviours

Expected Outcomes

Measuring success

Coaching

T

• Coaching Effectiveness Guide • QA Framework • Sales & Coaching support tools • Embedding Coaching • Role-Plays & Observations

• Leaders engaged with staff • Aligning values with job responsibilities • I dentifying Skill/Will motivators • Addressing 'Will' concerns • Performing regular observations • Using observations as the basis for

coaching discussions • Building on strengths • Discussing development needs • Staff initiating skill gapping • Teaching staff skills t hey need • Establishing specific action plans gaining

personal commitment & accountability • Increased focus/importance of coaching • Staff are self evaluating & motivated • Leaders working together to understand,

discuss & address issues & t rends

• Staff feel cared & valued • Staff understand & see the value of

coaching to help them achieve better outcomes for their customers & them

• Improved performance • Increased coaching ability in critical

leadership roles • Identifying performance capability gaps • Leaders developing own coaching

capabilit ies

• Engagement Surveys • Record of coaching observations • Completed coaching plans • Individual plans & feedback • Sustained coaching practice • Skip Level Meetings / Focus Groups

Accurate Role Perception

T

• Role expectations • Clarify Performance

Criteria, Behavioural Expectations & Role Requirements

• TL is coaching to increase performance capability

• Staff have engagement with their role

• Staff are focusing on key performance criteria to reach their goals

• Teamwork • Sales focus • Customer focus • Problem solvers • Concern for quality &

standards • Succeeding through

collaboration • Self development • Manage change

Increase in: • Customer sat isfaction • Staff engagement • Productivity • Goal attainment • Financial performance Decrease in: • Staff turnover • Absenteeism

• Engagement Surveys • Skip Level Meetings

KRAs/Targets

~

• PM documents established for staff

• PMR discussions / 1: 1 's / Development discussions

• Leaders enriching relationship with team

• Creating continuous two way open dialogue when reviewing staff performance

• Staff have a clear understanding of how t hey are performing against agreed targets

• Leaders & staff member taking action on early intervention with structured honest feedback to address individual non-performance

• Achieving desired business outcomes

• Proactively managing for a performance culture

• Actual vs. target known • No surprises • Staff incentive payments

• Engagement Surveys • Record of monthly PM

document • Improved business

productivity

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Sales Effectiveness

T

• Calibration sessions • Sales Huddles • Role-Plays & Observations • Coaching

• Using clues & t riggers • Probing with open, closed,

paraphrasing questions • Explaining features & benefits • Using closing techniques to

ask for the business • Improving staff sales

capability/confidence development

• Leaders providing "in the moment feedback"

• Sharing best practice & learning's

• Selling across different sectors per customer

• Proficiency & confidence • Increased referral & cross-sell

activity

• Engagement Surveys • Active sharing of learning's &

success stories • Skip Level Meetings

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Sales Management

T

• Setting sales priorities, activities & goals

• Role-Plays & Observations • Sales Huddles

• Regular sales huddles • Evaluating last weeks resu lts &

activities • Staff actively & willingly committing

to th is weeks goals & activities • Leaders undertaking daily check- ins

& debriefs • Leaders using coaching questions to

review team goals & individual activit ies

• Leaders maintaining regular contact with alliance partners

• Leaders providing " in the moment feedback"

• Sharing best practice & learning's • Celebrating success

• Improved staff capability & confidence development

• Buy-in from all staff on achieving individual & team goals

• Increased product awareness & knowledge

• Growth in customer numbers

• Engagement Surveys • Active sharing of learning's &

success stories • Skip Level Meetings

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Direct Wealth Sales – Financial Target

Examples: 

ANZ.800.887.0207

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Direct Wealth Sales  - Process Target 

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Direct Wealth Sales – Customer Target Productivity/ EQ

ANZ.800.887.0209

QA Direct Wealth Sales - Super Experience Qualities

Welcomed Customer

Greet

6%

Consultant Name Provided

Referred to Customer by Name

Listen I Understand I Reconfirm

24%

Demonstrated Listening

Avoided lnterru pting customer

Asked Relevant Questions

Understanding of enquiry oorrect

Acknowledge

2%

Kept the customer informed

Propose

24%

Provided Valuab'le Information

Concise Delivery of Info

Checked understanding

Acknowledged Objections

9

Reconfirm

12%

Closing Techniques

Sought Acceptance

n/a

n/a

Close

2%

Thanked customer for the call

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General Qualities

30%

Appropriate pace

Tone of voice

Coherent

Professionalism

Positive Language

Avoided jargon

10

QA Direct Wealth Sales – Direct Life and GI

• Was the call opened using the standard call opening in a professional manner? • -4% if no• Did the consultant ask for the customer's name, permission to use name & appropriate use of name? (Plus postcode for life)?• -4% if no• Did the consultant ask where the customer had heard about us?• -4% if no• Did the consultant ask the eligibility questions and give general advice warning? • Automatic 0 if no• Did the consultant attempt to build rapport with the customer?• -16% if no• Did the consultant clearly explain 3-5 features/benefits and ensure the customer understood? • -4% if no• Did the consultant check with the customer whether they wanted an overview of the product• Automatic 0 if no• Did the consultant speak about features & benefits in a conversational way using at least 3 examples• -16% if no• Did consultant explain all excesses / key exclusion / waiting periods / qualifying periods / options?• Automatic 0 if no• Did the consultant understand customers concerns and respond appropriately?• -4% if no• Did the consultant provide the correct product / legislation information / quote?•  Automatic 0 if no• Did the consultant objection handle the customer's concern by re-enforcing WIIFM statements?• -16% if no• Did the consultant ask effective open and closed questions to engage the customer?• -4% if no• Did the customer pro-actively ask for the Sale?• -16% if no

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Cont……

•Did the consultant re-confirm the customer contact details? •(including their name, address & phone number)•-4% if no•If a Sale, did the consultant read all declarations clearly? •(this includes the PDS and FSG, Duty of Disclosure Statement, Renewal Disclosure (not yet added) and the Direct Debit agreement)  Y•Automatic 0 if no•Was the consultant pushy or did they put pressure on the customer? •Automatic 0 if yes•Did the consultant provide advice?  •Automatic 0 if yes•Did the consultant give policy / Quote number?   •Automatic -20 if no•Did the consultant tell the customer the start date of the policy, when first premium will be debited and how much it will be? •Automatic -20 if no•Did the consultant give the customer service number and turnaround time for fulfilment?•-4% if no•Did the consultant follow the correct wrap procedure, offer further assistance and thank the customer for calling? •-4% if no•Did the consultant have appropriate control of the call? •-12% if no•Did the consultant show professionalism throughout the call?•Automatic 0 if no•If the call results in a sale, did the consultant look for cross sell opportunity?      •-12% if no•Was the correct hold procedure followed?•-4% if no

ANZ.800.887.0212

Wealth Specialist Behaviour Competencies

A = Role Model I Clearly Exemplary Capability B = Consistently meets or at t ime exceeds C = Requires development or Does not meet

Competency Focuses on the cust om er

Understands customer needs in order to deliver simple and convenient solutions that are both valued by the customer and commercial for the Bank.

Manages change Demonst rates openness to change and

uncertainty and successfully manages self and others through change.

Deve lops Self and Others Develops self and others to ensure ANZ has an

appropriately skilled and talented workforce.

Broadens Perspectives Gathers and evaluate diverse perspectives and

information to create new insight and innovative opportunit ies for ANZ now and in the future.

Delivers results Understands customer needs in order to deliver

simple and convenient solutions that are both valued by the customer and commercial for the Bank.

Description • Asks re levant questions of customers and clarifies needs • Takes specific actions to respond to customer needs to deliver a positive customer experience • Raises opportunities with other parts of the Bank in order to fully meet customer needs • Displays a genuine interest in the customer • Adheres to the customers first sales process. • "Significant ly needs development" flag on QA caps this behavior at a C for the month.

• Willingly tries new things and is open to change • Readily accepts change to work activit ies • Maintains a posit ive attitude and manages performance when faced with change, uncertainty and

contradiction

• Takes personal responsibility for own development and learning • Learns from own and others' mistakes • Seeks and listens to feedback from others • Establishes and follows through on career and development plan

• Listen to what others have to say and learn from each others learning • Asking questions to broaden your knowledge gap • Be aware of your limitations and t ranscend them • Move away from comfort zone and explore opportunities

• Takes a discipl ined approach to maintaining standards of work • Works to deliver outcomes within set timeframes and agreed standards, overcoming obstacles where

necessary • Looks for better ways of meeting set targets

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Focuses on the customer Understands customer needs in order to deliver simple and convenient solutions that are both valued by the customer and commercial for the Bank.

Wealth specialist What it looks li ke = A (must be proficient in completing ' B' level as well) • Proactively owns exceptional customer circumstances and works alongside Team Leaders and other areas to self manage • Esca lates any issues that has a customer pain point • Provides consistently high Process Adherence and Experience Qua lity resu lts • Understands the brand and v ision of ANZ • Looks for steps to enhance the customer experience • Overall Role model flag on calls for QA • Role model quality conversion with customers

What it looks li ke = B • Recognises the va lue of all customers (internal and external), including how on-phone & off-phone behaviou r impacts the customer experience • Follow script ing sa les process • Ensures all activit ies are orientated towa rds meeting their needs • Esca lates issues that has a customer pain point • Listens to customers regarding their expectations • Focuses on delivering solutions to address customer needs. • Consistently meets Quality expectations • Takes ownership of cust omer issues and pain points, including except iona l circumstances and escalat es appropriately • Displays a genuine interest in the customer

What it looks li ke = C • Does not meet Adherence • Does not meet Regulatory Compliance • Providing efficient but impersona l service • Does not take ownership of a customer 's problem by passing it on to someone else without trying to resolve it yourself • Takes the easy option - has not displayed ownership • Fails to recognise how own actions affect customers • Overall Significantly Needs Development flag on ca lls for QA • Adopts an inflexible and/ or unresponsive attitude to customer requests • Doesn't attempt to forge good working relationships with customers • Doesn't recognise or take advantage of opportunities to provide solution to customer • Doesn't recognise or take advantage opportunit ies to educate customers • Makes incorrect assumptions about a customer 's needs • Does not take on feedback and action customer 's requests • Publicly "vents" after a challenging conversation with a customer and/or is crit ica l of a customer, other department or poor result

CCM and TL discretion is applied. This list is not exhaustive 13

ANZ.800.887 .0214

Manages Change Demonstrates openness to change and uncertainty and successfully manages self and others through change.

Wealth Specialist What it looks like = A (must be proficient in completing ' B' level as well) • Proactively drives posit ive change in team/stream seeking opportunit ies for improvement • Is flexible to support different areas of the business for activit ies such as product changes, process changes, pilots, campaigns etc • Adapts own behaviou rs to changing demands or circumstances • Works effectively and remains focused during periods of uncertainty

What it looks like = B • Demonstrates openness to change and uncertainty • Successfully manages self and others th rough change • Clearly integrates change with existing work • Accepts new or different types of work when appropriate • Responds posit ively and quickly to changing priorit ies • Maintains a positive and receptive attitude to change

What it doesn't look like = C • Having a negative attitude towa rds change • Allows resistance to change to negatively impact others • Not taking into account all reasons for change • Not actively seeking more information to clarify the need for change • Doesn't suggest change to help reduce customer pain points • Inappropriately discusses change with a negative attitude on the floor

CCM and TL discretion is applied. This list is not exhaustive. 14

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Delivers Results Sets priorities and seizes opportunities to improve performance and deliver superior results for ANZ.

Wealth Specialist What it looks like = A (m ust be proficient in completing ' B' level as well) • Delivers self outperformance across all metrics despite obstacles and setbacks • Supports outperformance in team & stream across all metrics • Always actively & enthusiastically contr ibutes to team learning activities (eg Huddles, Team Meetings) • Willingness to take on extra tasks that have an added value • Runs huddles meetings and encourages involvement from the team • Actively shares successfu l sales strategies with other members of the team

What it looks like = B • Sets goals and seizes opportunities to im prove performance • Delivers on assigned goals within specified timeframes • Takes fu ll accountability for del iver ing their contribution to the business • Actively participates in Sa les Huddles and Team Meetings • Accepts responsibility for outcomes (positive or negative) of own work, adm its mistakes and refocuses efforts when appropriate • Takes a disciplined approach to maintain ing standards of work • Demonstrates collaboration by consistently action ing any refer rals t ransferred to them by other business areas v ia Viper . • Actively participates during huddles & meetings and proactively updates their board statistics • Consistently identifies opportun it ies on calls, delivering a high sales conversion.

What it doesn 't look like = C • Does not set goals and meet requi red targets (sales, QA and adherence) • Doesn't drive others to ach ieve goals • Uses Huddles, Team Meetings to put others down or complain without suggestions for what can be done differently, does not complete

the board • Does not look for ways of doing things better • Tolerates mediocre performance • Is easily side tracked from important goals • Does not action referrals transferred to them by other business units v ia ViP

CCM and TL discretion is applied. This list is not exhaustive. 15

ANZ.800.887.0217

Exercises Sound Judgement Makes sound and timely decisions based on careful consideration of a range of factors, including all aspects of risk and return.

Wealth Specialist What it looks like = A (must be proficient in completing ' B' level as well ) • Th inks outside t he square and considers possible solutions for customers • Proactively returns to core duties based on current position indicated on plasmas • No incorrect lead update status

What it looks like = B • Uses the STARS approach to consider all factors before making a decision that impacts a customer or t he business • Th inks th ings through in fu ll (sees t he bigger picture) to ensure best outcome for customer and ANZ • Exercises judgement when making decisions regarding off phone t ime based on current position for Charter and customers in queue. • Consultant actively manages ca ll handl ing time and keeps wrap t ime to a minimum. • Is aware and complies wit h risk policies and frameworks • Few to none incorrect lead update status

What it doesn't look like = C • Making decisions that impact customers or t he business without fu ll consideration of all factors • Notices errors made by peers but doesn't inform Team Leader to ensure coaching is received • Does not act with ANZ's best interests at heart with a v iew of t he customer's and business' needs • Does not actively manage call handling t ime and wrap t ime is above standard • Consistently inputting incorrect lead update status • Breach of compliance

What is 'STARS'? Stand Back - pause, be conscious that you are making a decision on behalf of ANZ/ Customer Think - do you really understand th is customer or situation? what are options and possible r isks and rewards for ANZ/ Customer? Ask - Ask for a second opinion if you th ink you need additional expertise. The opin ion of other colleagues can be invaluable; but

remember you are still accountable for the decision. Resolve - Make your decision Self Check - Before you act, ask yoursel f : Is this decision in the best interest of ANZ/ Customer? What would I do if it were my money?

CCM and TL discretion is applied. This list is not exhaust ive. 16

ANZ.800.887.0218

Develops Self and Others Develops self and others to ensure ANZ has an appropriately skilled and talented workforce.

Wealth specialist What it looks like = A (must be proficient in completing ' B' level as well) • Has a strong personal brand (dress code, language etc) and understands the brand of Direct Wea lth Sa les • Demonstrates ability and willingness to inspire others in a posit ive manner • Proactively broadens perspective across ANZ Direct Sales to improve own development • Creates real t ime learning opportunities out of everyday scenarios

What it looks like = B • Takes persona l responsibility for own development and learn ing (Has a cu rrent development plan) • Actively seeks feedback on what to do to improve and acts on the feedback. • Proactively provides feedback to Team Leader and colleagues on what can be done to improve • Develops self and others to ensure ANZ has an appropriately skilled and ta lented workforce • Identifies own skill gaps and requests coaching to develop

What it doesn't look like = C • Does not have a cu rrent and up to date development plan • Does not actively seek feedback • Does not take on feedback to improve performance and change the way they do things • Does not share mistakes to encourage shared learning • Does not recognise areas of development • Does not constructively provide feedback for others' development • Has a lack of self awareness • Does not take on feedback to help drive a reduction in work returns.

CCM and TL discretion is applied. This list is not exhaustive. 17