1. 2017 ServiStar Users Group Orlando, FL

2. Updates
Jen Kuhn has officially rejoined the MNA Team as VP of Training and Development
She has 7 months left at the “Thank You” Rate!
Added OnBoardAbility to ServiStar
We released our first Audio Podcast Series
Introduced Vertex Live!
CUES School of Member Experience, September Orlando
CUES Quarterly Webinars will now be a Video Cast!
Celebrated our 19th Anniversary!

3. 2017 ServiStar Users Group Orlando, FL Incentives In a Post Wells Fargo Era

4. Incentives in the Post-Wells Fargo Era Where Wells Fargo’s culture went rogue
The former Wells Fargo CEO wanted everyone who did business with the bank to have eight different products.
Stated values should act as beacons in a company’s culture, guiding daily decision-making, helping employees navigate trade-offs, and aligning everyone on a single trajectory.
Studies have repeatedly validated that workplace environment has the largest influence on employee behavior—more so than individual personality or values. In fact, managers account for at least 70 percent of the variance in employee engagement scores across business units, according to a Gallup estimate.

5. Incentives in the Post-Wells Fargo Era
The L.A. Times reported, “Regional bosses required hourly conferences on her Florida branch’s progress toward daily quotas for opening accounts and selling customers extras such as overdraft protection.
Employees who lagged behind had to stay late and work weekends to meet goals, and anyone falling short after two months would be fired.

6. Incentives in the Post-Wells Fargo Era
Wells Fargo has removed sales incentives, but this alone will not solve the culture problem.
Leadership must invest in culture management.
Culture measurement and management is key to mitigating the risks that negative behaviors can cause within an organization.

7. Incentives in the Post-Wells Fargo Era
Wells Fargo has removed sales incentives, but this alone will not solve the culture problem.
Culture management provides visibility and early warning for behaviors that are sitting dormant and might cause high risk at any moment. At Wells Fargo, leaders could have identified and altered language from leadership that was inspiring risky behaviors at the manager and employee levels.

8. Incentives in the Post-Wells Fargo Era
Wells Fargo is not the only bank that has a high-risk culture. CNN recently reported that dozens of employees from other large banks such as Bank of America, Citizens Bank, PNC, and SunTrust have similar sales tactics.
For this reason, financial regulators such as FINRA, the Federal Reserve, the IMF, and the SEC have spoken to the importance of culture measurement and management at financial services companies.

9. Incentives Work! It’s Just a Shame That They Do!
The Book, “Payoff” by Ariely studies, cash incentive, non-cash reward, recognition
Results
1-A. Non-Cash
1- B. Recognition
Cash Incentive
Later Results
No Difference in performance between any of the three and even those in a control group that received nothing.
“Different types of motivations don’t add up in a simple way,” Ariely states. “In particular, adding money to the equation can backfire and make people less driven.

10. Take Aways Core Values Are Important
Leading to Core Values Most Important
If your organization leads to numbers rather than values, watch out!
An organization will get what it is going after.
Middle Managers Control Employee Understanding of Core Values via
What they value and
Their language.

11. Take Aways Core Values Are Important Incentives Work
But So Do Reward and Recognition
None of Them Change Behavior Over Time
The ServiStar Reward and Recognition Program is Designed to Meet All the Above Criteria
Hire for Culture Fit
Lead and Coach to Values