In the current issue of Harvard Business Review, there’s a fascinating article about how Volkswagen employees who had nothing to do with the famous emissions scandal, still lost about 4% in the salary negotiations of the next job they interviewed for. And since future earnings are affected by current earnings long term, 4% adds up to a lot. Ouch.
And now Wells Fargo is in a similar pickle, affecting the careers of thousands of innocent, hardworking employees in a similar, unfortunate way.
Nobody here needs to be told about how important trust is in the workplace. It’s not just that it allows us to work together so more pleasantly and productively, as poor Volkswagen and Wells Fargo are now finding out the hard way, the price for losing it is so staggeringly high.