Bank losing out on talent


(Henry Pedro) #1

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taken from my email, interesting snippet none the less


#2

The stark difference between how much Monzo pay engineers and how little they pay customer operations team members shows the relative (un)importance they put on customer service :wink:


#3

I wouldn’t say I agree with that, to be honest.

It’s a very good job and I find to be a very good wage in a customer service role. You’d be pushed to find similar or better working life atmosphere with the work life balance Monzo have been able to achieve thus far. And working hard on continuing to achieve.

It’s not like anything I’ve worked previously, and I definitely feel I’ll be looked after long term.

I doubt I would get the same job satisfaction and combination of salary I am receiving now. It would be an either or in most customer service roles. From my experience. :slight_smile:


#4

The salary for working in London is OK if you living at home with parents or paid off your mortgage otherwise it is not sufficient to support a family or commuting costs therefore you are limiting the number of experienced applicants you may get. It is not just me that feels that way as other users have expressed the same opinion in the community before.


(Frank) #5

As long as it is above the living wage it is down to the individual to decide if the money is enough for them taking into account the wider company package. Work life and work atmosphere balance are becoming more and more important to employees. We just need to ensure salaries also reflect the value of the employee and the work undertaken.


#6

exactly, which proves in this case that the work undertaken (i.e. customer service) is valued less than the IT side (e.g. engineer), despite the interaction with a customer being the most important part of any firm.


(Frank) #7

Yeah but then you have a technical and a non technical role. One with technical delivery dates and targets and one without.

I am not saying customer service is less important, I spent 4 years working for one of the best in the industry, but to be able to finish work and effectively switch off until my next shift was invaluable at the time. Coming from a job before hand where I had to work late/early/at home to ensure dates were hit.

Customer service is and should be at the core of everything we do. Regardless if it is retail customer facing or not (you have internal customers too that should receive the same quality of service) and regardless of the delivery channel (autonomous/phone/chat/Mail).

So the engineer needs to offer customer service just as the COps do :wink:


#8

I think that it reflects the relative ease of obtaining customer service staff versus IT and software engineers.


(Tony Hoyle) #9

That’s a dangerous road to go down. No part of a company is ‘most important’ simply because it fulfils a certain metric.

That’s how you get things like IT support having to deal with shoestring budgets whilst the sales staff get new laptops every 3 months & company cars… (which is, alas, not an unusual situation at all).

The company is made up of people with different specialisations and they are all important to the final product (if they’re not, why were they employed?)

Salaries are generally determined by market forces (which I’d change if I was world dictator, but I’m not).