do this. Take for example one of the bank’s ads, it says they are fully devoted to compensating those impacted, but how do you compensate someone who has seen reduced credit scores from bouncing a check in an account that there was supposed to be money in? (Hiltizk, 2016). How do you correct something that took customers years to establish? There seems to be no solid answer to these questions, only vague promises and an absence of a definitive plan in place to make things right, which making things right may be all that customers really want. These advertisements continue to send out messages of caring and promises, but in the end no customer may want to be a passenger on their stagecoach if they cannot soon come up with real solutions.
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What happened within this organization demonstrates how smaller ethical compromises can lead to larger unethical practices that can grow out of control within the blink of an eye. In this case, it all started with sales goals that were set too high, followed by open threats to employees to be fired, and managers who overlooked labor malpractice laws. With so much pressure from the top, employees were trapped with nowhere to go, which led them to give in and add fuel to the already out of control unethical behavior. If something had been done when management first became aware of the situation in 2011, and not passed by as a problem with only a few bad actors, the organization’s mess with all the current legal battles may have been avoided. If leadership, particularly Jon Stumpf, cared a little more about the banks inner workings, the induced high stress levels, and unfair treatment of employees than today it could be putting more money in its pockets, instead of paying big fines and dealing with legal issues. Wells Fargo may be able to pull themselves out of this mess, as many other organizations have in the past, but only if they are willing to take the time to show that they really care about making it right. If they can do that, along with understanding it’s going to take a little more than pretty ads, they may once again regain the trust they have
What happened within this organization demonstrates how smaller ethical compromises can lead to larger unethical practices that can grow out of control within the blink of an eye. In this case, it all started with sales goals that were set too high, followed by open threats to employees to be fired, and managers who overlooked labor malpractice laws. With so much pressure from the top, employees were trapped with nowhere to go, which led them to give in and add fuel to the already out of control unethical behavior. If something had been done when management first became aware of the situation in 2011, and not passed by as a problem with only a few bad actors, the organization’s mess with all the current legal battles may have been avoided. If leadership, particularly Jon Stumpf, cared a little more about the banks inner workings, the induced high stress levels, and unfair treatment of employees than today it could be putting more money in its pockets, instead of paying big fines and dealing with legal issues. Wells Fargo may be able to pull themselves out of this mess, as many other organizations have in the past, but only if they are willing to take the time to show that they really care about making it right. If they can do that, along with understanding it’s going to take a little more than pretty ads, they may once again regain the trust they have