This past year was a year of transformation for Wells Fargo. The company’s mission is to satisfy its customers’ financial needs, but last year, the company decided to take time to rebuild the trust of its constituents, including the bank’s customers, employees, regulators, and shareholders.
During a recent conversation with Dr. Jason Wingard, Dean of Columbia University’s School of Professional Studies, the Chief Financial Officer of Wells Fargo, John Shrewsberry, shared how he is leading the financial services company’s 270,000 employees through a corporate transformation.
1. Make sure your employees are heard.
When a company makes changes to corporate culture, leaders must ensure that everyone is heard—and feels heard. Similarly, employees must be consistently updated and informed by leadership.
2. Fine-tune the signal-to-noise ratio.
An organization that comprehensively listens to employees has to perform a balancing act: capturing vast amounts of employee feedback while also having the ability to pull out useful, key points.
3. Create a circle of feedback.
An open door policy promotes a continuous exchange of ideas. If a team member is underperforming, voice it early to give ample room for improvement.
4. Trust a diverse and knowledgeable team.
Not taking the advice of those with deep subject matter expertise is like not taking the advice of a doctor. It can be dangerous to surround yourself with people who all think the same.
5. Establish a personal, professional network.
Invest in relationships with the mentors and colleagues who you’ve admired most along your career path. Your growing network will help you handle problems and opportunities along the way.
Watch Shrewsberry’s interview with Dr. Wingard to hear more of his leadership advice.