Worker Incentives in the Banking Industry

Selay Sahan* (Corresponding Author), Euan Phimister

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

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This study shows that monetary incentives together with performance disclosures
lead to significant increases in effort and productivity in the multi-branch banking
industry. Our results are based on an incentivized credit card campaign run by a
commercial bank in which employees were paid a piece-rate if they sold a credit
card to a customer. Later in the campaign, the head office started to provide daily
performance reports for all branches of the bank. The campaign ultimately resulted
in a significant 12.5% increase in the average daily productivity of branch staff and
productivity changes found were heterogeneous across different branches.
Original languageEnglish
Pages (from-to)259–284
Number of pages26
JournalJournal of Financial Services Research
Early online date2 Sept 2021
Publication statusPublished - 1 Apr 2022


  • Incentives
  • piece-rate
  • performance disclosure
  • productivity
  • credit card sales
  • multi-branch setting
  • commercial banking


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