#195: Charlie Scharf, CEO and President of Wells Fargo – Set the right example
Jul 11, 2024
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Charlie Scharf, CEO and President of Wells Fargo, shares insights on driving change in a culture of complacency, defining company culture, navigating leadership challenges in banking, building a culture of urgency, and setting the right example as a leader. Learn how aligning actions with values can lead to significant turnaround and success.
Leading by example is crucial for aligning decisions with priorities and values in leadership.
Transparency, accountability, and learning from mistakes are essential in fostering a culture of continuous improvement.
Integrating personal values into leadership style can cultivate a supportive and values-driven organizational culture.
Emphasizing empathy, transparency, and growth mindset leads to effective leadership and team development.
Balancing celebrating successes with a focus on long-term goals motivates teams towards continuous advancement.
Deep dives
Charlie Sharpe: Leading by Example in Overcoming Challenges
Charlie Sharpe, the CEO and President of Wells Fargo, demonstrates a strong commitment to leading by example and embodying the values he promotes within the organization. Despite facing challenges at Wells Fargo, including regulatory issues, Sharpe emphasizes the importance of transparency and accountability. He believes in recognizing mistakes, learning from them, and taking decisive actions to address them, fostering a culture of honesty and continuous improvement. By setting a clear example of integrity and resilience, he inspires trust and respect among his team and instills a sense of collective responsibility for achieving success.
Precision and Reflection: Lessons from Woodworking
Sharpe relates his passion for woodworking to leadership, highlighting the importance of precision, planning, and attention to detail. Drawing parallels between woodworking and running a large organization, he stresses the significance of meticulous planning and adaptability in addressing challenges. Additionally, Sharpe emphasizes the value of pursuing activities that provide mental clarity and relaxation, allowing for reflection and fresh perspectives on leadership and interpersonal dynamics.
Family Values and Work Ethic: Shaping Leadership Principles
Growing up with a strong emphasis on ethics, responsibility, and hard work instilled by his family, Sharpe shares how these values have shaped his leadership style. His early exposure to working summer jobs and the importance of regular family dinners fostered a deep sense of connection, integrity, and compassion. By integrating these core principles into his professional endeavors, Sharpe cultivates a supportive and values-driven culture at Wells Fargo, focusing on building trust and fostering meaningful relationships within the organization.
Navigating Adversity and Transforming Cultures
Sharpe reflects on his experiences in leading companies through both prosperous and challenging times, emphasizing the value of adapting to varying organizational cultures and driving transformation. He underscores the need for continuous learning, embracing change, and fostering a culture of resilience and growth. By prioritizing transparency, empathy, and effective communication, Sharpe navigates complexities, inspires innovation, and builds resilient teams capable of overcoming obstacles and achieving long-term success.
Empathy, Transparency, and Growth Mindset in Effective Leadership
Through his leadership journey, Sharpe underscores the importance of empathy, transparency, and a growth mindset in driving effective leadership strategies. By fostering open communication, vulnerability, and a culture of learning, he encourages personal and professional growth among team members. Sharpe's commitment to continuous improvement, authentic relationships, and strategic decision-making exemplifies his dedication to creating a supportive and forward-thinking organizational environment.
Celebrating Progress and Sustaining Momentum: A Balanced Leadership Approach
Sharpe highlights the significance of celebrating incremental successes while maintaining a focus on long-term goals and sustained progress. He emphasizes the balance between acknowledging achievements and maintaining a sense of urgency and commitment to ongoing improvement. By fostering a culture of appreciation, resilience, and perseverance, Sharpe motivates his team to embrace challenges, learn from setbacks, and strive for continuous advancement.
Learning from Failures and Building Trust through Accountability
Sharpe shares insights into the importance of acknowledging failures, soliciting feedback, and building trust through accountability in leadership. By embracing vulnerability, learning from mistakes, and demonstrating a commitment to transparency and continuous improvement, he fosters a culture of trust, collaboration, and self-reflection. Sharpe's emphasis on openness, humility, and a learn-it-all mentality underscores his approach to cultivating resilient and effective leadership practices.
Balancing Confidence and Humility: Insights into Effective Leadership
Sharpe discusses the delicate balance between confidence and humility in leadership, emphasizing the importance of self-awareness, adaptability, and authenticity. By valuing feedback, embracing vulnerability, and remaining open to diverse perspectives, Sharpe demonstrates a leadership style centered on continuous learning and growth. His commitment to authenticity, integrity, and empathy exemplifies a leadership approach that inspires trust, collaboration, and sustainable success.
Harnessing Innovation and Resilience: Lessons from Leading High-Performing Teams
Sharpe reflects on his experiences in leading high-performing teams, emphasizing the critical role of innovation, resilience, and adaptability in achieving organizational success. By encouraging creativity, risk-taking, and strategic thinking, he drives transformative change and fosters a culture of continuous improvement. Sharpe's leadership philosophy revolves around empowering individuals, fostering a culture of innovation, and embracing challenges as opportunities for growth and innovation.
As a leader, you can’t just SAY what your priorities and values are (although that’s crucial).
You’ve got to set the example yourself, so your decisions and actions align with those priorities.
To see how it’s done, listen to this conversation with Charlie Scharf, the CEO and President of Wells Fargo. He took over in 2019, which, as you may recall, was a real low point in the company.
Hit play now to hear how he’s leading the turnaround there — and why leaders can accomplish SO much more when they set the right example for their teams.
You’ll also learn:
How to drive change in a culture of complacency
The key factor most people overlook in a turnaround
What really defines your culture (it’s not what you think)
Why it’s OK if your career path isn’t a straight line
Take your learning further. Get proven leadership advice from these (free!) resources:
The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go
Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day
Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.
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