Background: Wells Fargo has been in the press a great deal over the past 2+ years for a variety of unscrupulous business practices and compensation programs that encouraged and rewarded such behavior. While it is unknown whether the incentive plans were specifically designed to drive such “bad” behavior, it is clear that controls did not exist to protect against unforeseen consequences or to support ethical leadership that might have curtailed it once it began. Some have gone so far as to suggest that the culture is/was inherently corrupt and that the incentives were intentionally designed to work within that framework.

Assignment: You have been hired as an outside Compensation Consultant to provide fresh eyes to Wells Fargo. Your role is to examine what happened (based on the readings and any other sources you wish to include), consider how such rampant fraud was allowed to occur and to make a recommendation for a new incentive program that will drive ethically responsible customer service. (Note that, as part of their sanctions announced in February 2018, the Fed has precluded Wells Fargo from getting any bigger than its current $2 trillion in assets until they are satisfied that they have cleaned up their act.)

After reading through the 2 short articles attached, you are to write an analysis of what went wrong and why followed by a recommendation for the new incentive plan. Support how your plan will address ethical behavior and leadership’s role in assuring effective oversight.

*****Your review should be a minimum of 700 words.*****

Readings: While you are welcome to use any supplemental readings you deem appropriate, the following will provide all of the details that are required for the assignment.

• “Wells Fargo’s 17-month Nightmare”, By Jackie Wattles (Ben Geier and Matt Egan), provides a recap of the company’s woes by transgression. https://www.wral.com/wells-fargo-s-17-month-nightm…
• “Wells Fargo revamps pay plan after fake-accounts scandal”, By Kevin McCoy, USA Today. https://www.usatoday.com/story/money/2017/01/11/we…

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.