Branch associates' motivation and incentive compensation plans in retail banking: Navigating environmental and business model changes

in partnership with


Logo of Primeum

Founded in 1994, Primeum is a company dedicated on Motivation through Incentive Compensation. Our ambition is...

View more
Digital Reinvention
16/11/2023 Study
Digital Reinvention
13 Dec 2023
13/12/2023 Coffee

People-powered transformation: Cultivating digital champions

In a strategic partnership, Qorus has collaborated with enterprise incentive management firm Primeum to conduct an in-depth analysis of the challenges and opportunities facing retail banking models. The resulting report offers a comprehensive exploration of the dynamic landscape within the financial services industry.

Navigating global financial landscape: Challenges, insights, and digital strategies

The report offers a worldwide view of the financial services sector, tackling major challenges like declining profit margins, the rise of disruptive entities, and evolving customer expectations. Qorus and Primeum provide valuable insights into the current global banking landscape, showcasing widely adopted best practices. Additionally, the report delves into how retail banks strategically navigate the digital transformation by segmenting clients based on financial needs and utilizing digital channels to address the demands of transactional clients. It explores strategic adaptations, including shifts toward proximity, diversification, and disinvestment, in response to evolving customer behaviors and expectations.

Evolving approaches to incentive compensation: Keeping teams motivated

The report uncovers the transformative impact of new trends on sales incentive systems and the increasing focus on consultancy within the retail banking sector. It explores how banks are adopting hybrid approaches, utilizing both branch networks and digital platforms, to evaluate and reward employee performance. The challenges and solutions in reallocating staff to meet the demands of evolving banking models are also examined.

Incentivizing quality and quantity: A holistic approach

Dive into the intricacies of incentive compensation models, where traditional approaches often pit quantitative and qualitative metrics against each other. The report explores alternative models that balance both aspects, drawing inspiration from successful implementations in industries such as logistics and travel. It provides an understanding of how these models foster a holistic approach to performance measurement and incentivization.

Related news & insights

Digital Reinvention
11/12/2023 News

Comprehensive rules for trustworthy AI: EU navigates the Artificial Intelligence Act

The provisional agreement on the Artificial Intelligence Act reflects a commitment to balancing innovation with the protection of fundamental rights,...

Open Finance
08/12/2023 Interview

NewTech Friday: Bizum – Real-time mobile payment solution from Spanish banks

Bizum is a leading Spanish instant payment service company. Its Business Development Manager Fernando Rodríguez Ferrer presents the company and...

Digital Reinvention
07/12/2023 Interview

Charting the future: Inside Allo Bank's vision for digital banking in Indonesia

Embark on a journey through the digital landscape of banking as we sit down exclusively with Indra Utoyo, the President...

06/12/2023 News

ING unveils the "ING Network" – A new financial hub in Padua

ING Italy gears up to unveil its latest venture, the inaugural "ING Network" in Padua. This innovative financial store is...

06/12/2023 News

NAVER Pay unveils "My Insurance Analysis" for independent peer-comparison of premiums

This feature, an upgrade from the previous "All-in-One Insurance Overview," allows users to independently assess their insurance needs with data-driven...

Digital Reinvention
05/12/2023 Study

Innovation Radar: Banking Innovation Awards winners 2023

This year we received 452 innovations from 182 institutions in 61 countries in 2023 – a true showcase for innovation...

Digital Reinvention
05/12/2023 Interview

Attijariwafa bank’s award-winning Fintech Catalyst program

At the Qorus Reinvention Awards – MEA (2023), Attijariwafa bank received the Environmental, Social and Governance (ESG) gold award for...

05/12/2023 News

Navigating the pitfalls: Young investors and the impact of online financial advice

In a landscape dominated by online financial information, a recent survey by Nationwide's Advisor Authority reveals that a significant portion...