From Career Development to Diversity and Inclusion, Wells Fargo strive to nurture a culture of caring and it strives to make its environment a place like home for customers and employees (Wells Fargo, 2019). The organization pay attention to employee and take time to know who they are by recruiting, on boarding and development. They also have resources to help employees make wise decision (Wells Fargo, 2019). As a company, Wells Fargo think globally, act locally and care nationally (Wells Fargo, 2019).
Wells Fargo has offices in 40 state and the District of Columbia (Wells Fargo, 2019). They are also located around the world to help business succeed on an international scale. They compete with the industry by offering foreign exchange hedging product and foreign currency management solution through Wells Fargo Bank. Customers can send money for their families and friends in Mexico, Central America and the Caribbean, Asia and South America through Wells Fargo online either by cash or by deposit (Wells Fargo, 2019). In addition, Wells Fargo compete not only with the industry to profit but also to attract talented employees by offering a total compensation package to compete with competitors in the market to attract talented team members (Wells Fargo, 2019). This offer includes salary, benefits and pay opportunities. Wells Fargo also practice a pay equity review process that include both gender and race/ethnicity. This review are shared with human resource committee so that employees are paid fairly and equitably. One thing that makes Wells Fargo different from other companies is that it helps non-profit organization like educational, environmental organizations, religious groups, health and human service providers by providing financial services like loans (Wells Fargo, 2019). Because the company has a long history of community involvement it will help them compete with the market.
Wells Fargo states 3 cultural aspects in the website (Wells Fargo, 2019). These 3 aspects are caring, team work and diversity (Wells Fargo, 2019). Ever task in the company is done by team work. Employees make internal meetings as a team, they go see clients with a team and they talk about opportunities as a team. And this team is diverse as in race, sex, nationality, geographical location and knowledge. This team really cares about being successful by helping clients and protecting the bank (Wells Fargo, 2019).
There are two most common approaches used by companies to understand how to define personality and how it’s measured. In this paper, I’ll discuss about the Big 5 personality or the behavior in the work place employees must have in Wells Fargo to be successful in the company. The First one is Openness to experience. This trait is not highly required to employees in financial institute because openness to experience is beneficial in researches and creatives. While low level of openness is advantage for accounting and sales. Conscientiousness is the second trait with self-discipline, hardworking, highly organized and efficient with time. These trait is required for employees working in a financial institute or banks so Wells Fargo should highly requires employees to have this trait. The third personality is extraversion which is basically outgoing and enjoy social interaction. This trait is highly required for employees to interact best with customers. The fourth personality trait is agreeableness. Agreeableness is highly required in the financial institute like Wells Fargo because people with this personality are flexible in their opinions and they get along easily with people. High level of agreeableness is advantageous for people who interact with customers while low level of agreeableness is advantageous for lawyers. The last personality trait is neuroticism. High level of neuroticism is vulnerable to stress and depression while low level of this personality is not easily irritated, stressed or embarrassed. In Wells Fargo employees better work with low level of neuroticism. In addition employees would be successful if they have high level of self-esteem and self-efficacy.
As I stated above, Wells Fargo pay attention to employee and take time to know who they are by recruiting, on boarding and development. And also they have resources to help employees make wise decision (Wells Fargo, 2019).
My perception of Wells Fargo organization is somehow adequate. I don’t consider the company great entirely because of the incident a while ago that the company’s fake account scandals (Fortune, 2019). As a reminder, the incident is thousands of employees created fake accounts secretly for customers without their consent (Fortune, 2019). The perceptual biases that might be influencing my perception is the Halo effect.
- Wells Fargo – Banking, Credit Cards, Loans, Mortgages & More. (2019). Retrieved from https://www.wellsfargo.com/
- http://fortune.com. (2019). Retrieved from http://fortune.com/2016/09/15/wells-fargo-scandal/
- Fargo, W. (2018, July 18). Retrieved February 25, 2019, from https://www.youtube.com/watch?v=qLE_uaMLmlc