People are our competitive advantage

I used to think that phrase was so silly. Like okay every business has people what makes the people at wells so special?

These recent months have shown me what that meant. Wells was a place you could work, make decent wages and go home to your family at a reasonable time. It was a place that you could recommend to a friend or family member in good faith. The people helped facilitate relationships with the community which helped the bank grow.

We don’t have that anymore. We have the stench of scandals past and now nobody wants to be here anymore. You’re either worried about being laid off or working investment bank hours for retail wages. How am I supposed to build a relationship with a customer when I don’t even know if I’ll be here in a few weeks? Why recommend a way to improve my area when my job is probably going to be in India by next year?

Some may blame chainsaw and he is no saint but it’s the boards fault. They’re so obsessed with having the cap lifted quickly that they hired a man who clearly does not care about the company long term.

If anyone asked me to identify the day wells went down it would have nothing to do with fake accounts. It would be the day we went from team members to employees. Employees look out for themselves and make sure their job is done. Team members are connected and part of something bigger. If people are no longer the competitive advantage of Wells Fargo..what is?

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People Are Our Competitive Advantage

Not for one second do I believe this anymore. CS does not give a c-ap about any of us, it’s all about making ‘the numbers’ look good, and that is what all of us are now....numbers. The ‘guided distribution’ is proof of that along with job title changes and new midpoints that were put into place AFTER reviews. If you think by putting in 50-60 hours a week or working when you have health issues will make you a better team player and help you for your review, you are mistaken. It’s all just numbers right now and it’s all coming from CS. He doesn’t care about people he cares about numbers because numbers are easier to present and manipulate.

You should read the 150 page public occ document supporting the fines levied on 8 former executives, published in Jan. 2020, where it cites abusive, toxic behaviors toward branch bankers who did not meet aggressive sales goals. People as a competitive advantage my a$$. Have you seen episode 2 of Netflix Dirty Money?

WF will become a shell of what it was

I get hundreds on applications and maybe 5 are worth talking to ...

@jcs - I meant to say "Because they have "been" here are" ..

People Are Our Competitive Advantage - the fallback slogan for every company with no actual competitive advantage to sell.

@khj:

Who's Ben? Is he a friend of tobe's?

Yes I'm sure because they decided to finally clean the bathrooms the hubs will become flyover Silicon Valleys.

We have lot of folks here who have been with Wells for long long long time. Because they have Ben here are consider as ‘valuable’ and have been sitting in the same position for long. This needs to change. If we want tobe a top notch company, we need the next gen with great skills including good communication skills to take over. Until this does not happen, we will not progress in the direction the leadership of the company wants.

(Now shower some thumbs down on this post!)

Wells Fargo is moving towards what JPMC is. If you just look at the interns that are coming are some of most sought after people in the industry. They all are coming from some of the most prestigious universities and programs in the world. The quants have are PHD candidates who already have Masters in Financial Technology and business related fields. The interns that will be working across all LOB are getting paid at a equivalent rate of 4 times the US Average income.

Renovations are happening at all Wells Fargo Hub Locations so it can attract more talent. The master plan is to have something equivalent to silicon valley style offices. Changes are happening, not suddenly, but I can see it in my LOB.

Wells Fargo is going to became incredibly competitive in the similar sense of Citadel.

Thread regarding Wells Fargo & Co. layoffs

People are our competitive advantage

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