WELLS FARGO: END THE OBSESSION WITH SALES GOALS

Why is this important?

The LA Times recently reported that roughly 30 Wells Fargo branch employees in the L.A. area tried to meet sales goals by opening accounts that were never used. Read the full story, here: http://www.latimes.com/business/la-fi-1004-wells-fargo-firings-20131004,0,3550404.story. The L.A. Times has since run a follow up story and articles about sales goals at Wells Fargo have appeared in the Washington Post and Consumerist. Lying and cheating should never be tolerated in the workplace -- especially at a financial institution. But the situation also suggests that Wells Fargo take stock of its community banking program and the sales goals employees are pressured to meet each week. According to the Times, the pressure to meet sales goals can be intense. Managers have required sales agents to stay late and call their friends and family members to open accounts in order to meet sales objectives. Sales at all costs is no way to build trust with our communities. Everyone has unique banking needs, and Wells Fargo employees pride themselves on being able to deliver quality products to individuals and community businesses. But when aggressive sales goals compete with customers' needs, one side always wins. We're calling on Wells Fargo to immediately review its community banking program and lower excessive sales targets for team members.

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