Worker Incentives in the Banking Industry

Selay Sahan* (Corresponding Author), Euan Phimister

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


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
JournalJournal of Financial Services Research
Early online date2 Sep 2021
Publication statusE-pub ahead of print - 2 Sep 2021


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


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