Wells Fargo uses a “happy to grumpy ratio” to keep tabs on employees’ workplace satisfaction, according to The Wall Street Journal’s Emily Glazer and Christina Rexrode.
Wall Street “culture” has become a buzzword for bank regulators, and the banks are taking heed. In particular, the Federal Reserve is looking to include more “qualitative components” in its annual stress tests, designed to gauge how well banks might handle upsets in the markets.
Banks are taking “qualitative components” to mean how confident employees are in the firms, how satisfied they are at work, or whether they frequent office happy hours.
Enter Wells Fargo’s happy-to-grumpy ratio, as CEO John Stumpf calls it. It’s derived from the company’s annual employee survey, with the belief that if staff are satisfied at work, they’re more likely to act ethically.
The ratio has risen steadily since 2010, according to the Journal. Isn’t that nice?
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