01 July 1998

FAILURE TO MEET a revised set of sales standards will cost up to 150 jobs within the 200-strong salesforce at Liverpool Victoria - the UK’s largest Friendly Society. Following allegations of misselling and failure to control its salesforce prior to last October, the Society was required to retrain its salespeople and instigate tighter management controls. Says Liverpool Vic: 'We put them all through an assessment course and out of the 200, only 50-60 achieved the criteria we have set.' Of the failures, as many as possible will be re-deployed; the remainder will receive severance packages. A new salesforce will be rebuilt around the nucleus of surviving members. The Society is believed to be facing a six-figure fine by the Financial Services Authority for salesforce misdemeanour and lax management controls before being brought to heel last October.