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.
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/employee and instead uses titles such as team leader/team member. (Salinger, 2007) The culture goes far beyond the bright colored offices and fun filled work environment. The employees at Quicken “express an appreciation for the inclusive and creative culture, nurtured by leaders who encourage them to innovate without fear of failure along the way”. (Fortune, 2014)
Gilbert along with CEO Bill Emerson “spent a lot of a time and energy instilling a very particular work ethos into employees.” (Segal, 2013) The organization bases their corporate culture with their “17 isms”, which are used in place of company mottos and mission statements. (Salinger, 2007) “Isms” is defined as “the ideals we live by at Quicken Loans and at every one of our family companies. They have a lot more to do with who we are than what we do”. (Our Isms, n.d) (See Appendix A) These “17 isms” have guided the creation of culture at this organization.
The cultural approach views organizations as cultures; the approach is also based in anthropology. Cultural approach attempts to discover the shared beliefs, behaviors, and values of a group of people within an organization. (Millar, 2011)
This analysis will be considering Deal and...