NFU News

Performance Measurement Systems should never replace good leadership

– NFU publishes guidelines to safeguard finance employees’ well-being and health

Performance Measurement Systems are widespread in the Nordic Bank and Insurance sectors, affecting the way finance employees carry out and conduct their work. To safeguard employee well-being and consumer protection, Nordic Financial Unions (NFU) is now publishing Guidelines on Performance Measurement Systems.

Performance Measurement Systems are systems that collect and analyse information from employees, either at group or individual level. They can for example measure sales targets, customer satisfaction and time spent advising a customer. As the NFU study “Do you measure up?” (2016) showed, the systems could lead to increased stress and pressure on employees as-well as lower quality of work and less time dedicated to customers.

– With the Guidelines, NFU wants to raise awareness of the challenges of Performance Measurement Systems. First, the systems can never replace good leadership. Secondly, performance measurements systems must ensure that no excessive pressure is put on employees that can endanger their well-being or performance at work. This is also crucial for the quality of advice provided to consumers, says Michael Budolfsen, President of NFU.

The Guidelines state that Performance Measurement Systems should ensure that employees have sufficient time and resources to carry out their job in order to safeguard their health and wellbeing. Performance measurement systems should also be built on trust and respect towards employees’ integrity as-well as encourage balanced sales targets that motivate employees to provide good advice and services.

These are the first ever Guidelines published by NFU. The purpose is to support trade union representatives with recommendations on what to consider when discussing the use, design and implementation of performance measurement systems. With the Guidelines, NFU also hopes to boost a constructive and transparent dialogue on the issue.

Read the Guidelines here.

For any request or more information, please contact:
Annika Stenström, Policy Advisor NFU
Telephone: +46 704 147 770

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