The latest Banking Scandal: Lloyds people bonused to rip customers off!


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You don’t need me to add my frustration and disgust at the latest (and I’m sure by no means the last) banking scandal: you will have heard all the nasty details elsewhere, but here’s something I picked up:

Lloyds said … the cost of the fine and any compensation would not have a “material impact on the group” which indicates the entire episode will cost less than £200m.

Who the hell are they kidding? Are they insane? are they that removed from reality that they don’t know about the cost of customer reputation and trust???

This will be the hugest cost … by far … and ti will take them YEARS if not decades to recover.

How many times do I need to talk about the ‘Customer Focused Mission’ before the businesses actually start to ‘get it’???

Republished with author's permission from original post.

Guy Arnold
Guy is the author of 'Great or Poor' ( ) … a simple and effective system for delivery of consistent and continually improving customer experiences, 'Go the Extra Inch' the effective way to empower your people, and 'Sales through Service' ( ) how to sell more through repeat business, referrals, round sales and reputation (the 4 R's). Guy helps Organisations large and small to systematically make more sales for lower costs, through 4 simple principles.



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