The Enemy is Adverse Selection

Wells Fargo is shooting for adverse selection vs. positive selection. Hire the right people or hire the wrong people?

Polished wizard with an impeccable record or Conor Tolkin? What are we doing?

We are not trying to attract the right people right now. Put out the message and get people to self select what you are trying to do. Right now we look desperate.

So, what is Wells Fargo trying to do? It’s hard to tell given the horrible communication. We don’t root for each other. Teamwork is dead. We hope leaders around us fail.

Additionally, we support wokeism and topics that less than 20% of the country agree with. There is no way that allowing politics at work is going to help Wells Fargo. No one is dissuaded. It’s actually encouraged. And then the other 50% of the company has to lie about who they are and what they believe.

We are literally sending tens of thousands of jobs to India which practices modern day slavery driving down wages but... we spend months hailing George Floyd and promoting people’s right.

Then you have the talent problem. We are paying big bucks for other people’s trash from the outside. We are crossing our fingers hoping our phenomenal hiring process will result in the right candidate. It’s a joke.

What is Wells Fargo and what are we striving for? I don’t know anymore.

Might simply be stock buybacks until the OCC breaks us up. Charlie gets his cash. The end.

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A few years back, they courted an executive level information security guy. He finally agreed to join WF, but left six months later. The problem is that this scares off qualified people, so we are left with the bottom feeders from JPM.

Charlie's hostile take-over from within continues.

@1cpr+1hPpsPyo

There's nothing more offensive in this world than the militantly thin skinned. What's more, they know it and enjoy it.

Great post!! Love it. Well said.

just do your job and execute and you wont need to worry about politics and agendas. When you decide to reach out and interact with another human in the company - now you need to learn how to respect everyone regardless of who they are and what they believe. A lot of us don’t know how to safely understand and respect a lot of different boundaries people have so our attempts at interpersonal communication could result in a negative experience for everyone including customers, vendors, other banks, and internally with each other. So it’s quite helpful that the bank spends time and money to provide some guidance so you don’t make a fool of yourself or worse hurt someone else. Cultures, traditions, and society always changes with each generation - you either move with it and have fun or you can get left back singing about the good ol days. GBY

Lots of truth right there. I liked it better when we didn't talk politics and we sure didn't push political agendas. It was much nicer when we ran a bank with conservative lending principals, were frugal, hired the best people for the job, and focused on making money.

Politics is sucking all the positive energy out of the company.

It’s a slow death

+100.

Describes the company I work for too (not well). Especially the bit about George Floyd and India.

Thread regarding Wells Fargo & Co. layoffs

The Enemy is Adverse Selection

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