Shinhan Investment Corp. Expands Employee Evaluation Weight on Customer Profitability... "Practicing Proper Sales"

Shinhan Investment Corp. announced on the 20th that it has increased the scoring weight of customer return rates to the same level as profit items in the performance evaluation system for private bankers (PBs) responsible for managing customer assets.

The revised scoring weight for customer return rates has been raised fourfold from the previous 500 points to 2,000 points. This is the same weighting as the core evaluation indicator, profit, meaning that no matter how high the profit performance is in the future, it will be difficult to receive a good evaluation if the customer return rate is low.

The performance evaluation indicators for PBs serve as the personnel evaluation criteria that determine bonuses and promotions, thus directly influencing sales methods. Therefore, the increased weighting of customer return rate in employee evaluations is expected to be a turning point that reduces the incentive for PBs to prioritize sales performance above all else and shifts the practice toward sales that genuinely help increase the value of customer assets.

Reflecting Shinhan Financial Group’s management philosophy of pursuing 'right profits,' the company plans not only to reward based on customer return rates as an evaluation indicator but also to incorporate customer perception and satisfaction. They will publish customer return rate analysis reports to share best practices and establish a Customer Return Rate Excellence Award during the year-end performance evaluation, which will additionally consider customer satisfaction survey results among employees with the highest customer return rates.

The strengthened customer return rate evaluation criteria were shared and consensus was formed through briefing sessions for PBs, and the new system has been implemented starting this month.

Kim Sang-tae, CEO of Shinhan Investment Corp., stated, "It is not just important to generate more company profits, but to return more benefits to customers, which can establish a virtuous cycle based on customer interests," adding, "We will significantly reflect customer return rates in PB evaluations and practice right sales that prioritize customer benefits."

This content was produced with the assistance of AI translation services.