Wells Fargo Communication Plan
One Team Twice as Strong… These will be the guiding words through the integration process where sound decisions and critical actions need to be carried out in order to achieve the ultimate goal:
1. To keep Wachovia intact and preserve the value of an integrated company”
2. To bring “the best in service from Wachovia and the best in sales from Wells Fargo”
The main areas of focus for the workforce integration are
Employee retention,
Identify and Engage Top Talent
Determine which high performers should be retained at all levels using past performance reviews and leadership style assessments. Direct engagement to explain the merger’s strategy and any potential employee-related impact resonates highly and will provide the clarity they desire. …show more content…
Communication plan
A successful communication plan will be critical in reducing employees’ uncertainty and retaining a happy, productive workforce. Communicating during change fosters understanding and aligns organizations from top to bottom while guiding and motivating employees.
Ensure Transparency
Pertinent details concerning the merger and integration should not be withheld. Doing so creates employee distrust of the new organization. When employees feel left in the dark, they feel unvalued in the process and ultimately resist change that is necessary for success.
Communicate Timely
A proactive communication plan will ensure that accurate information is provided to employees at all times. Timely, consistent messages will provide authenticity and credibility for interactions with employees.
Use all educational tools …show more content…
A good example is to conduct a traveling roadshow where Wells Fargo’s top executives visit its smaller bank branches to communicate and model the new culture. This will personalize the change for those employees and demonstrate, via first-hand experience, the new values and culture that Wells Fargo desires to implement as a result of the merger.
Communicate ‘A’ or ‘B’, not ‘AB’
The Process Integration team will identify which systems will be retained and which systems will be dissolved. Proper communication thoroughly explaining the changes and outlining the necessary skills training requirements must be distributed to ensure employees adapt as quickly as possible. Any lag in this area can hinder productivity and damage customer
1. To keep Wachovia intact and preserve the value of an integrated company”
2. To bring “the best in service from Wachovia and the best in sales from Wells Fargo”
The main areas of focus for the workforce integration are
Employee retention,
Identify and Engage Top Talent
Determine which high performers should be retained at all levels using past performance reviews and leadership style assessments. Direct engagement to explain the merger’s strategy and any potential employee-related impact resonates highly and will provide the clarity they desire. …show more content…
Communication plan
A successful communication plan will be critical in reducing employees’ uncertainty and retaining a happy, productive workforce. Communicating during change fosters understanding and aligns organizations from top to bottom while guiding and motivating employees.
Ensure Transparency
Pertinent details concerning the merger and integration should not be withheld. Doing so creates employee distrust of the new organization. When employees feel left in the dark, they feel unvalued in the process and ultimately resist change that is necessary for success.
Communicate Timely
A proactive communication plan will ensure that accurate information is provided to employees at all times. Timely, consistent messages will provide authenticity and credibility for interactions with employees.
Use all educational tools …show more content…
A good example is to conduct a traveling roadshow where Wells Fargo’s top executives visit its smaller bank branches to communicate and model the new culture. This will personalize the change for those employees and demonstrate, via first-hand experience, the new values and culture that Wells Fargo desires to implement as a result of the merger.
Communicate ‘A’ or ‘B’, not ‘AB’
The Process Integration team will identify which systems will be retained and which systems will be dissolved. Proper communication thoroughly explaining the changes and outlining the necessary skills training requirements must be distributed to ensure employees adapt as quickly as possible. Any lag in this area can hinder productivity and damage customer