THE ORGANIZATIONAL WAVES ARE IMMENSE BUT WE MUST RIDE IT!
Over the past several months, organizations are being challenged by the news of organizational improprieties that challenge the institutions themselves. Here are some of the headlines that speak to this.
*This week, a banking institution, Wells Fargo (WFC 48.54 -0.37%), who after reporting the firing of 5,300 employees in community banking, paying over $185 million dollars in penalties to the federal government, (Consumer Financial Protection Bureau), for opening multiple accounts without consumer knowledge, etc., informed the public that the head of that division would be retiring with a golden parachute of over $125 million dollars in salary and stock options. Wells Fargo, in paying the penalty, stated it neither confirmed or denied the actions of thousands of former employees or the corporate culture that promoted the impropriety. According to the reporting in Fortune Magazine, "Wells Fargo was aware of the behavior for longer than it should have, without putting a stop to it."
*A well-known media outlet, Fox News, has agreed to pay over $20 million to former Fox & Friends host Gretchen Carlson, as well as additional settlements to a number of female workers for sexual harassment claims. The resulting settlements come on the heals of the resignation of the network's parent company president Roger Ailes, additional claims from other female employees, and a public apology to Carlson by the network. According to National Public Radio, (NPR), the apology issued was considered "highly unusual".
THE WAVES ARE IMMENSE...
There are many other examples of organizational impropriety and although not as extreme as these cases described, challenge the fabric of organizations. How are individuals to deal with coming out of organizational problems?
According to the Harvard Business Review by Groysberg, Lin, Serafeim and Abrahams, "How to Survive a Company Scandal You Had Nothing to Do With", there are a number of things that individuals can do to survive organizational malaise. Here is a review of options:
*Know the law and cultural climate where you work. In many cases, social norms dictate organizational outcomes. But most importantly, employees must be prepared for the changes that are to come. This may include finding other positions or industries to remove themselves from the organization.
*Pay close attention to the ethics and research a company before joining. The key question here is are there industries or organizations that could affect professional mobility?
*Develop strong external networks. Both professional and personal networking is most important to overcoming a stigma. Individual reassurance and a strong support group benefit the move to networking.
*Consider a diverse resume'. According to the article, diversity in job functions can assist individuals coming from organizational meltdown. But also, a person should do an assessment of outside hobbies, skills, volunteerism and engagement for professional moves.
*Address your emotional, private needs. Take moments within the process to identify what really matters to you. Individually, there are emotional aspects of being caught up in organizational issues, but in the process, lessons can be learned.
Unfortunately, in many cases, issues of race, sex, financial impropriety and overall organizational performance cast a long shadow in these issues. But the goal should be to go through these events, learn lessons and experience growth while moving on. Sometimes it takes traumatic experiences to make us better and more appreciative of the things that are most important.
TPP
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