A quote from Wells Fargo internal blog on the bank’s incentives and Pau and ethics. One employee, and a union activist said in an interview with the New York Times, “There’s a sense among the workers that most of the reforms the bank has made are very superficial and only being done for PR reasons.”
As the Barometer has noted in these pages, the nationwide ads the bank has placed focused initially on social responsibility issues. Can’t fix the internal issues with external programs. The latest ads have turned to “real change” and “innovation,” and, of course, a new logo. Innovation and a new logo do not a real change make. Were I at Wells, I would start with the frontline employees, the internal blog, and chip away at the issues they are raising. The very best information about culture is in the culture itself, those who are working with customers and their compensation and evaluation systems. The top-down changes should be reversed. Bottom-up change is best because bottom-up change is real.