spoke to their Media Consultants TpT and they promised to get us their side of the story but for 48hours they could not before press time.
OUR AGITATIONS
This is the reaction of all DSEs Nationwide as regards the new commission rate and all other issues:
“When the usage of a car is continuous without proper servicing of the car, the engine of the car tends to wear in little time and thus the driver or the owner changes the engine and move-on”. We are the engine and SOL and DIAMOND BANK PLC is the owner, and in order to correct or reduce the sudden and frequent changes of engine, all these below listed items must be attended to as a matter of urgency and necessity by the management.
Commission
This is a very vital issue which needs urgent attention to correct the interest of DSEs walking on the brim of collapse. Attached
excel shows how DSEs were been paid at the inception of the scheme, latter in the scheme after like two years of the program and now as we speak. At the inception, targets were directly proportional to income and remunerations, i.e., the targets really worth the commission DSEs were paid but as we speak, reverse is the case. “It’s unjust to work like elephant and eat like an ant” We will like to draw the attention of the management to the fact the SOL has never reduced the percentage they take on all our
commission been paid even with the new structure now. The bank is now in the game of deposit and yet DSEs are been distracted with volume of accounts to be met as target which
in any way doesn’t not really add values to the payment structure of the bank to the DSE’s. BONUS The bonus in the inception was very encouraging and attractive which in many ways push a lot of us to bring in deposit for the bank but with the drastic slashing of the bonus now, we will like to tell the management that it will do a lot of discouragement to struggling souls of the DSes and as such makes the effort to bring in more deposit less meaningful.
DURATION OF ACCOUNTS
The reallocation of accounts from DSEs to relationship officer were not in place at the inception of the scheme which in turn enables DSEs to enjoy payment on variables of account
till the DSE leave the system but at some point, it was made known to all that accounts will now stay under us for just 90 calendar days . Good point to extend it now to SIX MONTHS because some good accounts starts doing good volume after 3 MONTHS but the question is: should the percentage be slashed
up to 0.175%. With our own calculation, the bank has only spread whatever we are to get for three months into six months meaning that the bank has not really done any good for
the pockets of the DSEs nationwide. FIXED PAY The fixed pay which is always narrated by the bank as the salary of the DSE was in the inception 30,000 in which SOL takes 2,000 and DSEs are been credited with 14,000 twice on the 14th and 28th of the months. At a period of time also, the salary was drastically slashed to 20,000 naira only of which SOL still takes the
same 2,000 they are used to in the era of 30,000 and left DSEs with salary of 18,000 naira and which is still the salary we are enjoying till date considering the drastic increase in all our daily expenses such as transportation, feeding and communications e.t.c.
FIXED DEPOSIT
In the inception of the scheme, fixed deposit as the product of the bank attract good commission to DSEs but at some point, it was removed in which DSE up till now still sells for the bank as a means to mobilize fund for the bank. The bank is now in the system of deposit and as we all know that, bringing in huge deposit can only be done through a good rate of offering of fixed deposit to customers.
ASSETS
This is another means in which DSEs make income in addition to the liability and credit card but was removed on the pretence that the risk assets packaged by highly educated DSE’s always go bad. The question is are the risk assets packaged by highly paid and trained core staff of the bank doesn’t go bad? It is also on record that DSE’s with our meager pay has shown great interest at ensuring that such bad risk asset are recovered through active participation in recovery drive and by also gathering intelligence information to nab those erring debtors since we are the one that hit the road by foot everyday all these at no extra pay and with no complaint even after they don’t allow it to count for us.
SALES TARGET
There is no doubt that we the DSE’s contribute the highest quantity of account opened by the bank. The sales target was 20
accounts initially and was sometimes last year increased to 40 accounts and now 70 accounts. The management needs to come to the understanding that we are not been paid on the number of accounts but volume of accounts. That is, it is not by the number of accounts you open in a month that speaks to
your pocket at the end of the month as a DSE but the volume of good accounts you open that month which is not always come in quantity. Drastic increment in sales target will only kill the moral of the hard working DSEs in the system and as such will make the Job not worth doing at all as such person will be
shread on a daily basis by the Business manager, RSM and all other line supervisor which at the end of the day will lead to relieve from duty.
MEDICAL
Several complaints have been made but yet no changes. Medicals in the scheme is as good as nothing because many of us find it as a means to quick death going to the given hospitals for treatments in the sence that proper attention, checkups, test and drugs will never be given to a DSE despite the fact that we pay for all these services through our own little salaries.
CONVERSION
The bank has actually been doing good these days by trying to convert DSEs to full staff. The fact is that, DSEs who have stayed 2,3,4 years in the system selling the bank’s product might has lost many of his /her intellectualism
in writing aptitude test as no much time available for such person to study materials needed for the exams and can’t be compared to a fresh graduate just coming out of the youth service with fresh brain and interest in writing b aptitude test . DSEs of 2, 3, 4, years are experienced and far better to employ and train than the fresh graduate as the DSE will spend the bank little or no money to train them as they are already used to the system of the bank and all the products. And impliedly we are the one that even train the so called trainee on product knowledge etc. it is also to be noted that many of us control
more in term of volume and no of account than some relationship officers who enjoy so much from the bank and majority of accounts in there portfolio were brought by DSE’s 13TH MONTH It is known to us that we are contract staff but
we will like to let the management know also that the C&M EXCHANGE staff are also on contract and they always receive the 13th month salary from the bank even the drivers of the bank do get the 13th month, so why can’t the DSEs have access to such advantage or privilege in the bank.
TAX RECEIPT
Despite the deduction of tax from our salaries on a monthly basis, none of the DSEs have seen the tax receipt for more than 3years now and as we all know the importance of the tax receipt in Nigeria today especially. Several efforts have been made individually to get the tax receipt even at the point of need but to
all avail.
OUR RESOLUTIONS
We hereby come to the following conclusions:
1. The commission should either be increased
or return back to status quo
2. That the bank should hire another favorable recruitment agent for us as we are all tired of Strategic Outsourcing Limited (SOL) 3. Bonus should be reversed to the initial amount in all condition.
4. Accounts duration should be left at six months
5. Fixed pay should be heavily increased
6. Fixed deposit deposit should be allowed to read for DSes as the major way of our payment is now liability.
7. Assets sales should be allowed to read as a sales parameter for DSEs but subject to strict supervision by the credit department
8. Sales target should be reasonably reduced to accommodate effectiveness and efficiency of number of accounts opened
9. That we should be allowed access to the computer system but subject to control and restrictions
10. Medicals should be seriously looked into to get good health support and to enable DSEs run certain number of necessary tests in the allocated hospitals like ECG test, SCANS E.T.C
11. DSEs should be converted on performance
and experienced based and not to be subjected to writing any aptitude test as many of us are more qualified and highly
experienced on the job than many highly paid Account Officers not to talk of rookies like ET. 12. DSEs should also be paid 13th month as a remuneration and entitlement
13. Tax receipt should be given to all covering the number of years paid for as soon as possible.
14. We also demand a better channel through which our complaint will be channeled to henceforth. While we remain committed to the vision of the bank and to the budget of the bank, the bank should also replicate same to us in our
pay and condition of service. Let the management also be guided by the fact that majority of us are graduates from good tertiary institutions and even with higher degrees and
we won’t hesitate to work effectively and efficiently towards the dream of diamond bank.
All these are our agitations and must be reacted to within 72 hours to avoid a nationwide DSE decision and reactions to
duties.
Thanks
Yours faithfully
For DSEs Bank wide CC
Group Managing Director Diamond Bank
Head Strategic Outsourcing Limited
Director of Banking Operation (Central Bank of Nigeria)
President National Association of Banks and other financial institution Honorable minister of Labour and Productivity
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