"Worse than ever": Australian bank culture has not improved since royal commission, statt say Workers insist pay is still linked to hitting sales henchmarks and leaderboards to track sales are rife 7 April 2021 Bank workers have rejected claims pay is no longer based on sales benchmarks during focus groups conducted for the Finance Sector Union. The culture inside Australia's banks has not improved in the two years since an overhaul of the scandal-prone sector was recommended by a royal commission, employees say. In focus groups conducted for the Finance Sector Union, bank workers rejected statements from the Australian Banking Association's chief executive, Anna Bligh, that employees were no longer being paid based on hitting sales benchmarks. "If anything since the RC things have just gotten worse," one worker said during the focus group sessions, a report of which has been obtained by Guardian Australia. "The banks think that no one is watching. Since the royal commission they're just stipping things back in and it's now worse than ever." While some workers said things were slightly better, most condemned bank bosses for continuing to run a sales-oriented culture. A retail bank worker for one of the big four banks, who spoke to Guardian Australia separately, said the lure of bonuses for making sales, which were banned as a result of the royal commission, had been replaced by the fear of being sacked if targets were not met. ...However, the FSU national secretary, Julia Angrisano, said the changes had not addressed a culture of greed in the banking industry because they only affected frontline workers and bosses were still earning bonuses based on financial targets. "If we don't change the way pay is structured from the very top, nothing will change," she told Guardian Australia. In the FSU's focus groups, rank-and-file workers also raised concerns about the continued existence of leader boards to track sales, which Sedgwick criticised. Workers also raised concerns that banks expected them to continue to hit sales targets during last year's coronavirus shutdown. The bank employee who spoke to Guardian Australia said that despite a big turnover in executive management since the royal commission, bank bosses were still not listening to rank-and-file staff "They all say we're going to clean up the culture, yeah right. Nothing has changed." An ABA spokesman said that banks were committed to improving culture and remuneration arrangements" Source: The Guardian, Australian Edition Required: Considering the above article, analyse the ethical implications of a sales-driven incentive structure in banks and its effect on broader society. (450 words) (20 marks)