Unless you’ve been living under a rock, you’ve heard that Wells Fargo has been in some hot water lately. Just as many companies who have experienced scandal, Wells Fargo now has to pick up the pieces and regain the trust of both customers and employees.
Looking at this situation from an employee engagement perspective, I’ve been impressed by the leadership communications. The new CEO, Tim Sloan, has apologized to the employees for “the pain [they] have experienced as team members as a result of the company’s failures.” Indeed, humility and working from the bottom up to revamp Wells Fargo’s culture seems to be the way to move forward. Instead of these decisions being made in the board room, executives are going on a “listening tour” to hear from team members in the branches and understand what went wrong and how to fix it.
Any company that is going through a big cultural shift or crisis has an opportunity to move forward and build a culture that is stronger and more successful (just look at Tylenol or Odwalla), and I have the same hope for Wells Fargo.
And if you’re reading this, Wells Fargo, give us a call – we would love to help!