Overview of Quicken Loans

1346 Words3 Pages

Introduction
Quicken Loans has been successful in creating a corporate culture that is “an exceptional and rewarding place to work”. (Salinger, 2007) In the case of “Fun plus hard work equals success for Quicken Loans” the corporate culture is investigated. The study highlights the fact that the “corporate culture mixes causal with high energy”. (Gallagher & Reindl 2013) Quicken employees either “adapt to this high-energy culture or work can seem a high-pressure chamber where leaders extol workers to sell, sell, sell”. (Gallagher & Reindl 2013) This analysis will take into consideration case studies, theses, and interviews to dissect and apply cultural theory to the corporate environment at the Detroit office of Quicken.

Background
Quicken Loans is the brainchild of lawyer and real estate tycoon Dan Gilbert. Quicken is “well respected in the lending industry and is recognized as the number one online retail home lender in the country by National Mortgage News”. (Salinger, 2007) Since the beginning Quicken has been recognized as one of the top employers in the nation. Quicken has earned many accolades including:
 Ranked among the top 30 companies on FORTUNE Magazine’s annual “100 Best Companies to Work For” list for 11 consecutive years.
 Named a J.D. Power and Associates 2010 Customer Service Champion – one of only 40 companies named in the U.S.
 Named one of Computerworld’s “100 Best Places to Work in IT” for the past nine years, ranking #1 in 2005, 2006, 2007 and 2013.
 Named in the “Training Top 125” by Training Magazine for excellence in training and development in 2011, 2012, 2013 and 2014. (Awards & Kudos, n.d.)
Quicken has created a corporate culture that frowns upon the use of titles such as supervisor/employ...

... middle of paper ...

...ww.usatoday.com/story/money/business/2013/04/28/fun-hard-work-equal-success-for-quicken-loans/2117955/

Fortune Magazine Names Quicken Loans a Top-5 Best Place to Work in America. (2014, January 16). -- DETROIT, Jan. 16, 2014. PRNewswire. Retrieved February 15, 2014, from http://www.prnewswire.com/news-releases/fortune-magazine-names-quicken-loans-a-top-5-best-place-to-work-in-america-240485181.html

Miller, K. (2011). Organizational communication: Approaches and processes (6th edition). Boston, MA: Wadsworth Cengage Learning.
Segal, D. (2013, June 8). An Oasis in a Desert of Customer Service. The New York Times.

"Our ISMs." (n.d.). Quicken Loans Press Room. Web. 17 Feb. 2014. .

“Awards & Kudos.” (n.d.). Quicken Loans Careers. Retrieved February 16, 2014, from http://www.quickenloanscareers.com/about/

Show More
Related

  • Team Definition: Cold Stone Creamery

    708 Words  | 2 Pages

    Mary Ellen Guffey, Kathleen Rhodes, Patricia Rogin. Business Communication: Process and Product, Sixth Canadian Edition. Ed. Anne Williams. Sixth Canadian Edition. Toronto: Nelson Education, 2011. EBook. 11 April 2014.

    Read More

  • Marketing At The Vanguard Group

    1998 Words  | 4 Pages

    One of the highest loyalty scores in the industry, with a redemption rate under the industry average; and

    Read More

  • Subprime Loans: The under-the-radar loans

    1842 Words  | 4 Pages

    The problem to be investigated is the ethics and effects of subprime loans on the financial institutions, borrowers and stakeholders. The subprime market was created to provide borrowers with a FICO score below 570 access to home loans. Inopportunely these loans were a major financial risk as most of the borrowers did not have the long-term income to pay for the high interest rate loans. (Jennings, 2012)

    Read More

  • Resilient Communicator

    1214 Words  | 3 Pages

    Being an effective communicator is the key to success for a leader. Communication is defined by the authors in the text Organizations: Behavior, Structure, and Processes as transmitting information and understanding, usi...

    Read More

  • Analysis Of Quicken Loans

    1122 Words  | 3 Pages

    Quicken Loans consistently receives the J.D. Power award, a coveted consumer satisfaction award, in addition achieving the recognition of local and national Best Places to work, resulting in the majority of employees exhibiting high job satisfaction and motivational behavior (Gallagher et Reindl 2013). Specific employee reviews of Quicken Loans discovers current and former employees with varying levels of motivational needs and satisfaction. Studying employees’ comments posted on various review sites, the common consistency existed as high levels of autonomy, an amazing fun culture offsetting stress, excellent benefits, and relaxed, colorful work environment, offsetting the complaint of long work hours without compensation (Glassdoor 2016). The high energy demands at Quicken Loans of “every client, every time, no exceptions, no excuses” proves to be rewarding for some employees yet unacceptable for others Gallagher et Reindl 2013). According to USA Today, a lawsuit filed by former Quicken Loans’ employees suing for unpaid overtime hours exhibits the dissatisfaction of workers. Consistently, long hours and overtime hours existed as the number one criticism of previous personnel. However, when employing the Job Characteristics Model developed by Schmidt, employee satisfaction

    Read More

  • Why Do You Think Downward Communication Is much more Prevalent than Upward Communication?

    1943 Words  | 4 Pages

    Gibson, J.W., and R.M. Hodgetts. 1991. Organizational Communication – A Managerial Perspective. 2nd Edition. New York: HarperCollins Publishers.

    Read More

  • Case Study: Lendlease

    1470 Words  | 3 Pages

    Lendlease is a leading international property and infrastructure group, with a business model that contains three basic components. Those three components are development, construction and investments. In development, they focus on developing communities, apartments, retail areas and social/economic infrastructure. In construction, they focus on defense, commercial, residential sectors and pharmaceutical buildings. In investing, the investment management platform also includes the Group’s ownership interest in property and infrastructure co-investments, retirement living and US military housing. Lendlease is an Australian company but has business headquarters in 4 regions of the world. These regions are Australia, Asia, Europe

    Read More

  • Using Sounds in Communication

    845 Words  | 2 Pages

    Quintanilla, K., & Wahl, S. (2014). Business and Professional Communication: Keys for Workplace Excellence (2nd ed.). Los Angeles, CA: Sage.

    Read More

  • Lincoln Electric Company: Harvard Case Study

    1029 Words  | 3 Pages

    As we learn from the case study, the Lincoln Electric Company is the largest global manufacturer of machines for welding, which are used in all kinds of construction projects. This means that the company has a large global presence and many employees, so its culture affects thousands of its workers. Even though it is now 2014, the company still has a large market share and very satisfied employees, so clearly the culture leaves employees satisfied and motivates them to work hard for the company.

    Read More

  • Citigroup

    1393 Words  | 3 Pages

    The Name of the company which I choose, is Citigroup. I’ve been interested in the company for a very long time. Since the day I first met my brother in-law eight years ago, I’ve been at awe in regards to the sophisticated manor in which employees carry themselves and the company name as a badge of pride and accomplishment.

    Read More

  • Demonstrative Communication

    727 Words  | 2 Pages

    Quintanilla, K., & Wahl, S. (2014). Business and Professional Communication: Keys for Workplace Excellence. (2nd ed.) Los Angeles, CA: Sage.

    Read More

  • Apple Inc. Financial Analysis Case Study

    3622 Words  | 8 Pages

    Financial Future: Where Will it be in 10 Years? Retrieved on November 20, 2013 from

    Read More

  • written communication

    1596 Words  | 4 Pages

    Hartel, C.W. & Schwartz, W.S. (1994). Ready for the real world; senior experience. Belmont, California: Wadsworth Publishing company.

    Read More

  • Effective Communication

    1759 Words  | 4 Pages

    Adler, Ronald B. & Elmhorst, Jeanne Marquardt (1999). Communication at work: principles and practices for business and the professions, (6th Edition). St. Louis: McGraw-Hill.

    Read More

  • Organizational Communication

    1180 Words  | 3 Pages

    Communication helps the organizational members to make both personal and organizational goals. And also help them to co-ordinate on the internal activities of the organization. To the extent the less effective communication of any organization is the less e...

    Read More

More about Overview of Quicken Loans

Open Document