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Wells Fargo CEO ruffles feathers with comments about diverse talent
Posted on 9/22/20 at 4:21 pm
Posted on 9/22/20 at 4:21 pm
quote:
Wells Fargo & Co Chief Executive Charles Scharf exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there was not enough qualified minority talent, two participants told Reuters.
He also made the assertion in a company-wide memo June 18 that announced diversity initiatives as nationwide protests broke out following the death of George Floyd, an unarmed African-American man, in police custody.
"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters.
Scharf spent more time listening than speaking during the 90-minute call which he initiated and has not been previously reported. His comments about Black talent rubbed some attendees the wrong way, according to the two employees, who spoke on the condition of anonymity because they feared repercussions.
Not all attendees recalled being offended. "The meeting was incredibly constructive... I walked away being incredibly surprised at how genuine and sincere he is," said Alex David, president of the Black/African American Connection Team Member Network.
But several Black senior executives across corporate America said they are frustrated by claims of a talent shortage, and called the refrain a major reason that companies have struggled to add enough racial and ethnic diversity to leadership ranks, despite stated intentions to do so.
read more
Posted on 9/22/20 at 4:23 pm to RLDSC FAN
Assuming he has the numbers to back it up, he's literally telling them a problem they are facing while trying to become more diverse. What the hell else is he supposed to do? Lie?
Posted on 9/22/20 at 4:24 pm to RLDSC FAN
Don't tell me what to do.
Posted on 9/22/20 at 4:24 pm to RLDSC FAN
McDonald's can't find enough talent to keep the shake machines working. Imagine if you had to recruit them to a bank. Where they were expected to show up on time and be professional.
Posted on 9/22/20 at 4:25 pm to RLDSC FAN
He should offer to livestream all interviews with black candidates in the interest of transparency.
Posted on 9/22/20 at 4:27 pm to RLDSC FAN
quote:
But several Black senior executives across corporate America said they are frustrated by claims of a talent shortage
How can you fix the problem if you refuse to acknowledge it exists? I don't understand these people. They're far more concerned about looking like heroes for the black community than looking at the facts and helping them in reality.
Posted on 9/22/20 at 4:27 pm to RLDSC FAN
quote:
While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from,
quote:
But several Black senior executives
Guaranteed they are women.
ETA: nothing will be bettered until people acknowledge diversity of thought is important for success and diversity of skin color or gender means absolutely nothing.
This post was edited on 9/22/20 at 4:31 pm
Posted on 9/22/20 at 4:27 pm to RLDSC FAN
So, he probably should have lied
Posted on 9/22/20 at 4:27 pm to RLDSC FAN
quote:
"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters.
We'd never try to make sure that half of the NFL running backs were white though. Sports are too important and should be a meritocracy
Posted on 9/22/20 at 4:28 pm to RLDSC FAN
Not sure why he can't find talent. I'm sure there are some fellas in southern states that can drive a 4 team stagecoach.
Posted on 9/22/20 at 4:29 pm to RLDSC FAN
Who knew that self imposing diversity quotas would limit the available talent to hire from?
Posted on 9/22/20 at 4:31 pm to RLDSC FAN
I'm glad they're sticking to the "capitalize the "B" in black" campaign.
That certainly will help the talent gap issue
That certainly will help the talent gap issue
Posted on 9/22/20 at 4:31 pm to RLDSC FAN
Wonder if these are company initiated diversity goals or affirmative action goal numbers.
Posted on 9/22/20 at 4:31 pm to RLDSC FAN
Ooh. Maybe truth will come back in style.
Posted on 9/22/20 at 4:32 pm to RLDSC FAN
Having to be qualified to get a job is raciss
Posted on 9/22/20 at 4:33 pm to RLDSC FAN
All this diversity bullshite is illegal.
I'm tired of being discriminated against because I'm white.
How TF doesn't this violate the 14th Amendment?
I'm tired of being discriminated against because I'm white.
How TF doesn't this violate the 14th Amendment?
Posted on 9/22/20 at 4:40 pm to RLDSC FAN
This is part of the reason companies are one-upping each other in donations and scholarships and diversity internships, etc.
When the entire market decided that one tiny, small metric determined success, competition became infinitely more fierce.
The solution is, of course, to do a better job of providing an upwardly mobile career path to current employees, but companies don't want to do that, it would require too much effort and might accidently work too well.
I'm actually going to bring this up with a Diversity bigwig at corporate next week. They want to increase diverse hires at upper field level by 50% over the next few years (with stores closing) but the jobs they want to open for hire have no place to go.
Say you have 1000 stores with 1000 GMs. You have 100 DMs, each maaging 10 stores. If your DMs stay 5-10 years and you hire outside the GM pool at a 3:1 clip, it will take forever to open up a material number of GM slots for new hires.
But you if you seriously considered, and actually actively developed and recruited, those same GMs for low level corporate positions, you would streamline your hiring process, keep wages low, and increase opportunities to diversify your future hiring pool.
When the entire market decided that one tiny, small metric determined success, competition became infinitely more fierce.
The solution is, of course, to do a better job of providing an upwardly mobile career path to current employees, but companies don't want to do that, it would require too much effort and might accidently work too well.
I'm actually going to bring this up with a Diversity bigwig at corporate next week. They want to increase diverse hires at upper field level by 50% over the next few years (with stores closing) but the jobs they want to open for hire have no place to go.
Say you have 1000 stores with 1000 GMs. You have 100 DMs, each maaging 10 stores. If your DMs stay 5-10 years and you hire outside the GM pool at a 3:1 clip, it will take forever to open up a material number of GM slots for new hires.
But you if you seriously considered, and actually actively developed and recruited, those same GMs for low level corporate positions, you would streamline your hiring process, keep wages low, and increase opportunities to diversify your future hiring pool.
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