The company spent billions in strategic investments and enlisted other companies to open offices in downtown Detroit, including Microsoft, LinkedIn, Amazon, Pinterest, Ally Bank and Fifth Third Bank. While many factors contributed to Detroit’s comeback, Quicken Loans and its parent company, Rock Holdings, played a major role.
A recent Quicken Loans’ internal survey found that 92% of team members agreed with the statement, “the work I do has an impact on our company’s success,” and 83% agreed, “I feel my work has special meaning it’s not just a job.” Employees report low stress and high engagement. Helping employees thrive in physical, financial and mental well-being has paid off. The company recently held a mental health summit to help managers spot and intervene in cases of employee mental illness. To support mental and emotional well-being, employees can receive behavioral health services through the new concierge health center that partners with a local psychotherapy office to offer convenient, confidential on-site sessions. It offers a tuition reimbursement program, employee purchasing discounts, daycare subsidies and a generous parental leave program. To support financial well-being, the company offers financial education programs via one-on-one counseling and webinars. It offers great benefits such as four weeks of paid vacation and 7 paid holidays in the first year of employment. The company pays good wages, with the lowest paid workers earning no less than $15 an hour. Quicken Loans’ approach to employee financial well-being centers on helping employees build stable financial futures. In addition to serving as an employee’s primary care physician, it includes a full-service pharmacy, physical therapy, and wellness coaching, along with a broad spectrum of other medical services. To encourage physical well-being, the company opened a new 17,000 square foot concierge health center providing primary, holistic and urgent care. Other benefits include prepaid legal and a generous 401(k). The company pursues whole-person health through an impressive menu of programs, including comprehensive healthcare coverage, dental coverage, life insurance, disability benefits, and vision insurance. This has led to high employee performance, low turnover and strong loyalty and morale, as evidenced by both internal and third party surveys. It also prioritizes long-term career paths. Quicken Loans fosters an employee-centric workplace by creating good jobs, paying living wages and providing great benefits. “And alongside our commitment to Detroit, they help us cultivate an authentic sense of pride and purpose in our workforce that facilitates a deep connection and commitment to our common goals.” They function as a blueprint for our workplace culture,” says Malloy.
“The “ISMS” are the non-negotiable core of everything we stand for.