Detroit-based Quicken Loans was recently named No. 5 best place to work in America in FORTUNE Magazine’s annual ranking of the “100 Best Companies to Work For.” This marks the 13th straight year the company has ranked in the top 30 of FORTUNE’s workplace study.
Quicken Loans’ recognition among the five best workplaces in the nation stems from its inclusive and exciting culture, which focuses on eliminating the bureaucratic practices traditionally found in business and instead creates an environment that encourages new ideas, responsible risk-taking and challenging the norm.
“Our team members know their opinion isn’t only welcome, but expected. From providing input on how to improve our existing business, to pitching a completely new company idea, our commitment to a culture of empowerment and innovation creates an atmosphere where hardworking, passionate team members can thrive,” says Quicken Loans Chief Executive Officer Bill Emerson. “I couldn’t be more proud of our entire team. A strong culture sets the tone for a great workplace, but it’s the people who live and breathe that philosophy every day that make it truly special.”
An award-winning culture leads to business success. In November 2015, Quicken Loans released Rocket Mortgage, the first end-to-end completely online and on-demand mortgage experience. This revolutionary product is the result of three years of innovation and execution from more than 500 technology team members.
In addition to promoting an environment of team member empowerment, Quicken Loans stresses a culture of client service. In 2015, the company was named “Highest in Customer Satisfaction for Primary Mortgage Origination” in the United States by J.D. Power for the 6th consecutive year. Quicken Loans was also ranked highest in the nation for customer satisfaction among mortgage servicers in 2014 and 2015 – the first two years the company has been eligible.
“In business you really only need to do two things: Love your clients. Love your team members. And it starts with loving your team members or you can’t expect them to love your clients,” says Quicken Loans Founder and Chairman Dan Gilbert. “We pride ourselves on creating the best possible environment for our 15,000-plus team members to thrive, grow and breathe new ideas and ‘better ways’ into all that we do. Once you establish that kind of culture, the rest takes care of itself.”
According to FORTUNE’s survey, Quicken Loans team members rated the company’s work atmosphere at 99 percent. Additionally, 97 percent of team members say they are proud to work at the company.
The company’s culture of innovation is amplified through its platform for new ideas, called “The Cheese Factory,” and its internal “Pitch Day” competition, both of which encourage and reward team members for bringing forward ideas for new businesses and areas of improvement. The creation of Detroit’s first gigabit Internet provider, Rocket Fiber, was an idea generated from a Quicken Loans team member in the Cheese Factory.
FORTUNE Magazine partners with the Great Place to Work Institute to develop a comprehensive team member survey to identify the 100 Best Companies to Work For. Two-thirds of a company’s survey score is based on the results of the survey, which is sent to a random sample of team members. This survey asks questions related to team member’s attitudes about management’s credibility, overall job satisfaction, and camaraderie. The remaining third of the score is based on responses to the Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts.
For more information, visit www.quickenloans.com.