Wells Fargo’s Post-Scandal Pay Plan Eliminates Sales Goals

Wells Fargo & Co. introduced a compensation plan for retail-bank employees that shifts the focus from sales goals to customer service after the old incentives led to a scandal over the creation of potentially millions of fraudulent accounts.

Incentive pay for branch employees in 2017 will be based on “customer growth, service and usage of products,” according to a summary of the new compensation plan disclosed by the San Francisco-based lender on Tuesday. “There will be controls in place to monitor bad behavior.”