- Talent Management
Computerworld gave Quicken Loans the distinction of being the best large IT company to work for in 2014. It is not only a company known as a great place for employees, but it’s also doing tremendously well in terms of growth and customer satisfaction. The company set a record of $80 billion in home loan volume in 2013 and became the 11th largest mortgage service company in the country. Learn more about why Quicken Loan is the highest in customer service satisfaction.
J.D. Power has also named Quicken Loans as the highest in customer satisfaction amongst all other loan providers in the U.S. for the fourth year in a row.
With these statistics one would have to make the connection between happy employees and happy customers.
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So what sets the Detroit-based company apart as a standout in talent management?
The corporate culture at Quicken Loans is defined by a sense of inclusiveness and creativity. There’s a tremendous emphasis on employees being innovative, and rather than being discouraging or creating a fear of failure, leaders at Quicken Loans work to nurture and foster innovation.
“It’s incredible to see what’s possible when you hire great people, empower them, and set them loose to innovate and create,” said Quicken Loans Chief Executive Officer Bill Emerson. “It is an absolute honor to work alongside our more than 10,000 team members who bring their passion and energy to the office each and every day.”
The corporate culture at Quicken is guided by 19 core principles which include everything from “Do the right thing,” to “Obsessed with finding a better way.”
Commitment to Training
Quicken has seen some big changes in recent years, including a substantial growth of their IT department. That growth has led them to make changes in how they do things—specifically when it comes to training employees.
The company launched a training program entitled Quicken Loans Technical University, and it’s geared toward the company’s IT programs. Courses are varied and range from things like systems training to time management.
Quicken says the ultimate goal with all of their training and development is ultimately a sense of personal growth for employees.
The company also touts the availability of complimentary educational seminars on topics related to health and finances.
It’s worth noting that according to FORTUNE, full-time salaried employees at Quicken receive on average 290 hours of training per year, while full-time hourly employees receive 240 average hours of training.
When it comes to giving back and philanthropy, Quicken is a company that puts its money where its mouth is.
The company recently made headlines when it moved its headquarters from suburban Michigan to the heart of bankrupt Detroit. The goal of the move is to position Quicken as part of restoring the once iconic city to the distinction it held as a hub of economic activity in the country.
Members of the Quicken team have dedicated tens of thousands of hours of their own time to non-profits in the area and leaders at Quicken say one of their proudest points is the amount of volunteer time and giving back their employees are willing to invest.
The core of the Quicken talent management strategy begins with how they recruit. During the years around 2008 when the rest of the lending industry was suffering and downsizing, Quicken decided to take a unique approach.
Quicken launched the Engineered to Amaze program where they were hiring when others were firing. By aggressively recruiting, particularly on college campuses around the country, Quicken was able to ramp up its customer service and expand at an unlikely time, which positioned them for tremendous success once the market began to experience an uptick.