I think in this case there isn't necessarily a right (or fast) approach. Like many of the other widely known corporate ethical cases, emphasis must be placed on reevaluation of their values and rebuilding trust and honestly with both their customers and the public as a whole. One thing I believe the corporation has to start doing is including ethical and moral benchmarks in their performance evaluations. They need to show the current and any new employees that success at Wells Fargo is measured both quantitatively and qualitatively. It is important to start the new ethical programs internally because the culture definitely needs some drastic changes. Once the corporate culture begins to change the employees will start displaying ethical values to the account holders. Once the customers begin to see the bankers consistently showing concern for them as people and not just ways to gain profit, the publics' view will slowly start to change. Management and regulation ...
It is important to first point out factors that made employees lock up their moral compass temporarily. Once you identify the factors that lead to unethical behavior and talk about it using ethical language it because more straightforward of what actions to take to avoid it and the bad reputation that goes along with it. Fortune.com points out three factors that left bankers at Wells Fargo susceptible to unethical behavior: feeling pressured, treating it as "just business," and separating their lives at work from their lives at home. 1. Feeling Pressured: Overly aggressive pressure on individual performance by the banks may have caused morality to decrease. Hard-to-reach objects cause morally disengagement by employees, morally disengaged employees are less likely to be loyal to the company and fail to see their actions as part of a bigger picture. To make the performance goals they felt they had no choice but to cheat or they may lose their job. Anxiety and stress ...