Wells Fargo was last week’s example of failed leadership and the lack of a moral compass. $185 million in fines and 5300 people fired. Whose responsibility was the oversight?
This type of behavior will continue to happen unless companies stop “putting a bandaid approach to an artery problem.” Should companies work on finding ways and processes to “suture” the artery problem and stop the bleeding one and for all? It would certainly be more cost effective.The problem revolves around what Leaders allow to happen by not having a process in place to monitor what they create. I wonder how many leaders were part of the 5300 employees fired last week?
So what is the “band-aid” that companies keep using on their growing “artery” problems?
- Ineffective training not by what is taught but by not having a process of continual follow-up on the learning process.
- To settle for non-transformational training, to be enough required training.
- That policies and behavior are “dictated” by leaders without oversight as long as the “numbers” are met.
- That there is no known accountability by leadership for what they have done or not done, thereby letting others pay the price.
- That the fines are seen “as the cost of doing business” without regard for customers, etc.
- That the lack of ethics is never a talking point with their types of corporate fraud.
- The leaders in charge either don’t have a moral compass or ignore it for profitability sake. Either choice is unethical.
Without a moral compass, all leadership is hamstrung, short-sighted, and to be honest, shouldn’t be charge of anything.