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Diversity, Equity and Inclusion at Wells Fargo

We value and promote diversity, equity, and inclusion in every aspect of our business and at every level of our organization. Success comes from inviting and incorporating diverse perspectives.

At Wells Fargo, we believe that focusing on diversity, equity, and inclusion is key to being one of the world’s great companies. It’s a business imperative that lets us take advantage of the creation and innovation that comes from multiple perspectives. It allows us to respond quickly and effectively to customer needs, and it helps us understand our customers more fully, see business opportunities in new ways, and succeed in serving the needs of all customers.

We strive to build and sustain a diverse and inclusive culture for all Wells Fargo employees – one where they feel valued and respected for who they are as well as for the skills and experiences they bring to our company. Our goal is for the diversity of our workforce to reflect the diversity of the communities we serve. We strive to attract, develop, and retain the best-qualified, most diverse group of employees we can find. But diversity is only part of the equation. We also want an equitable and inclusive culture that is accepting of differences and open to new ideas, which will result in better decision-making and innovative solutions that provide a competitive advantage in the marketplace.

The spirit of diversity, equity, and inclusion lives in our hearts and minds and, most importantly, in our behaviors – the way we interact with each other and conduct our business. Some notable initiatives include:

Diverse segment outreach. Our team reaches out to help us better serve and earn more business from important communities including Hispanics; Asian Americans; African Americans; LGBTQ community; women, members of the military and veterans; and people with disabilities.

Diversity, equity and inclusion councils. Lead by our CEO, and comprised of senior leaders from across our company, the councils make decisions that align with our goals and influence change. In addition to our Enterprise Council, we have councils at the regional, local, and line-of-business level.

Supplier diversity. We integrate diversity into our vendor sourcing process. Diverse suppliers support economic development and create jobs in the communities we serve.

Employee Resource Networks. All Wells Fargo employees have the opportunity to participate in Employee Resource Networks (ERNs) at Wells Fargo. Employees - who are connected by a shared background, experience, or other affinity - formed these networks, and they are open to anyone who works at Wells Fargo. Each ERN is aligned with our company strategy and devoted to professional growth and education; community outreach; recruiting and retention; supporting business development; and customer insight. Learn more about our Employee Resource Networks here.

 

Our approach

Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. We focus on three areas:

Workforce diversity, equity, and inclusion. We strive for a culture with inclusive policies and programs that attract, develop, engage, and retain the best talent.

Marketplace. We integrate diversity, equity, and inclusion into the business decisions we make every day, including how to increase work with diverse vendors and suppliers.

Advocacy. We demonstrate leadership and commitment through our interactions in both the workplace and in our communities.

 

Our structure

Our priorities and goals are set by the Enterprise Diversity, Equity & Inclusion Council led by our CEO and President, and comprised of leaders across the company.

Diversity, Equity & Inclusion councils are established at the business and international regional levels of the organization to help implement programs and initiatives.

Employee Resource Networks are an integral part of our commitment to building a diverse and inclusive culture. They are a place for employees to connect, leverage, learn, build their skills, and impact business outcomes.

To implement diversity, equity, and inclusion in every aspect of our business, we collaborate with key internal partners including Human Resources, Public Affairs, Marketing, and Corporate Communications. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors.

Pay equity

To attract and retain talented employees, Wells Fargo offers a total compensation package, including salary, benefits and incentive pay opportunities, that is competitive with those offered by our key competitors in the businesses and markets where we operate.

Our compensation principles

Our compensation program is designed to be consistent with our four compensation principles of paying for performance, fostering a risk management culture, attracting and retaining top talent, and encouraging the creation of long-term stockholder value.

Wells Fargo is committed to fair and equitable compensation practices and we regularly review our compensation programs and practices for pay equity.

Our pay equity review process

  • We engage a third-party consultant to conduct an objective, statistical pay equity analysis annually. We include both gender and race/ethnicity in our reviews.
  • The results of the review are shared with our Board’s Human Resources Committee.
  • Based on our pay equity reviews, we take appropriate actions so that our employees continue to be paid fairly and equitably.
  • We are committed to conducting on-going pay equity reviews and continuing to enhance our processes.

In addition, Wells Fargo is committed to attracting, developing, and retaining the best-qualified, most diverse group of employees. That includes:

  • Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions,
  • Investing in our future workforce, and
  • Promoting diversity, equity, and inclusion awareness through education and training.