Wells Fargo Lateral Leadership

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Wells Fargo senior leadership has recognized that this type of lateral communication takes place within the organization. The organization not only recognizes its top performers but from a change management perspective also looks for the top performers’ buy in prior to the implementation of processes and strategies. Once the buy in of the top performers is gained, then the top performers help influence other team members to buy into the processes or strategies. The combination of the top hierarchy to frontline, and the lateral communication approaches creates a culture of unity. Consistency in regards to products or services is major factor that contributes to an organization’s success. The third type of communication direction that Wells Fargo…show more content…
The idea or the change speaks for itself when a pilot is successful. Having a team stand behind an idea creates additional advocates for the idea which makes the acceptance by other team members and implementation of the idea much smoother. The pilot results are reported back to senior leadership so they stay informed. Many times as a control for the idea, a report needs to be modified or designed. Reporting measures the success, and also provides a measurement of team member adherence of the idea. With any change or idea implementation, WELLS FARGO: VALUES, CULTURE & STRATEGY 6 procedures will need to be updated. Team members and managers can find their department’s procedures in their department’s website portal. The procedures is documentation that tells team members and managers how to go about completing processes and handle certain scenarios. A staff notice is setup and vetted through representatives of the business who make sure the idea or change is easily understood and is expressed very clearly. Once business representatives agree the staff notice is sufficient, it will then be sent out to the impacted team members and managers. Since many ideas come from “the business” (production) itself, they tend to be fluidly…show more content…
Without this transparency senior leaders would not know there are problems to solve which would in turn hinder the organization’s success. In a large organization, it is very difficult to keep team members motivated across the organization. Since Wells Fargo has over 264,000 team members, it is important that there are strategies put into place that address team member motivation. Wells Fargo offers competitive compensation for the job positions available compared to the current job market. Team members tend to stay more motivated when it comes to the monetary compensation approach than any other motivational approach. Besides competitive salaries and hourly wage, Wells Fargo also offers incentive plans for its team members. The incentive plans center around productivity, WELLS FARGO: VALUES, CULTURE & STRATEGY 7 quality, and customer satisfaction surveys objectives. The incentive plans are setup to motivate team members to not only meet their objectives, but to surpass them. When the majority of

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