Sep 11, 2016

Sunday Focis: How Many Cheaters?

You've heard the story by now....Wells Fargo Bank employees opened checking and credit card accounts for its customers....without telling them. They did it to earn bonuses.
How many employees? A Handful? Fifty?  Hardly. From the CBS report:

"A bank spokeswoman said 5,000 employees had been terminated as a result of the improper actions, but said she could not comment about whether employee bonuses, which were apparently at the heart of the improper activity, would be rescinded. It was also unclear whether their conduct had any impact on the bonuses earned by (CEO John) Stumpf. The executive was paid $155 million in performance-based compensation between 2012 and 2015, according to the Institute for Policy Studies, a left-leaning think tank."

     There are some 265,000 employees of the bank. So it is a small percent. But some of the employees who did not cheat had to know about it. And some of those who did cheat had to have a guilty conscience at some point. Yet apparently nobody said a word to management?
     Gives new meaning to the term bank robber.
     And how is it that so many people in a single organization convinced themselves that it was OK? I would love to see how many of the employees fit into the millennial age group. Among the least "engaged" employees.
     The other day I read a story about products stolen at grocery stores, and shoplifting in that retail environment was largely by employees. 
     The other big loss factor was self-checkouts. People were stealing stores blind...that's perhaps why Win-Dixie canceled it's self-checkout at some stores.
     Americans can't be trusted.

[Sunday Focus is a regular longstanding feature of]

1 comment:

Jay Croft said...

John Stumpf? Is he related to Donald Drumpf, the Republican presidential candidate's real family name?