HRM / OB Case Study

Quicken Loans - A US Company: 'Best Place to Work For'

OR

Abstract:
US based company, Quicken Loans, is the leading on-line mortgage lender and provides home loans, home equity lines of credit and any residential type of mortgage. The company ranks second in the Fortune's list of 'Best Places to Work For' for the year 2008. Quicken Loans was ranked the no 1 company by Computerworld Magazine in the list of '100 Best Places to Work in Information Technology' in the same year (2008). It also ranked no 1 in the list of the '101 Best and Brightest Companies in Metro Detroit' by the Michigan Business & Professional Association in 2007. The company is recognised for the strategies adopted to create the best human resource initiatives for their employees. The human resources (HR) strategies of Quicken Loans helped the company to retain, satisfy and motivate its employees. The case study helps to analyse whether the company can sustain its successful position in future as it expands both in terms of business and employees strength. The case also offers a backdrop to debate whether HR acts as a competitive tool in the financial services industries.

Pedagogical Objectives:

• To understand the importance of HR in the services industry, with specific reference to the financial services sector.
• To comprehend the components of the HR practices and policies of the top 10 successful companies in the US.
• To know the HR strategies of Quicken Loans.
• To ascertain if HR is a competitive tool in the financial services industry.

Keywords :  Quicken Loans, Best Places to Work For, Human resources (HR) practices, Employee referral programme, Benefit packages, Employee perks, Fortune magazine, ISM - Quicken Loans, Financial services industries, US company, ISMs, Fun and family-friendly workplace, E-Loan, Company culture