Tesla raffles, 'Dundies' and more: how lenders are leveling up on employee appreciation

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A little appreciation goes a long way, and it’s especially impactful when employers take a thoughtful and unique approach to showing it. Sure, the near-ubiquitous employee of the month awards and president’s clubs are nice but they’re usually measured by one particular metric, lack inclusivity or are bereft of creativity.

To get employees to go above and beyond, it helps to reciprocate that as an employer, say the leaders of some of the firms that landed in this year’s ranking of the best mortgage companies to work for.

Of course, few things scream appreciation more than driving off in a brand new car. Redondo Beach, Calif.-based Civic Financial Services is in the second year of its CORE Challenge, in which employees earn points based on their success in representing company values and hitting personal goals. They’re submitted through colleague recommendations on the Microsoft Teams plugin Karma Bot. There’s also a series of rotating challenges, like a focus on staying healthy for Heart Month in February.

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Points accumulate throughout the year and employees can distribute them as they choose to enter the raffles for trips and prizes at the annual banquet. However, the top four point leaders from each of Civic’s three areas — sales, operations and shared services — make the running to win a Tesla. With the exclusion of senior leadership, Civic sees it as a way to spread celebration regardless of role or tenure.

“It’s really a way to gamify work,” Sophie Kim, senior vice president of people and culture, said in an interview. “It's organic, something the staff willingly participates in, and as corny as it sounds, it creates a lot of smiles across the company.”

While the pivot to fully remote work changed the office dynamic industry-wide, the CORE Challenge kept something of a connective tissue across departments at Civic. It provided a silver lining through the pandemic, Kim said.

Civic also fosters innovation and upward momentum with its Grand Idea and High Rise awards. Each month, the best idea to drive positive change within the company and the employee who went above and beyond their work both get rewarded with $1,000 and a trophy.

Most notably, a then-part-time receptionist won the High Rise after taking on projects above the job description and flourishing with them. Civic since brought her on full-time and promoted her twice.

“She is thriving and we were happy to support her because she's shown not just that you can do the job, but the gumption is there,” Kim said.

Sometimes it’s about putting a positive spin on adverse conditions. VanDyk Mortgage used to refer to the last week of every month as “hell week.” With loans closing at month-end and new loans coming in for the next, its operations staff finds itself overwhelmed with full pipelines. But the Grand Rapids, Mich., shop rebranded it to employee appreciation week, complete with timely themes, food and activities to give them a break.

“They need a little more love that week,” said marketing business manager Kimberly Laughlin. “We had to get creative with COVID and everyone working from home, but we send cookies, Uber Eats giftcards, and even had a Halloween costume contest. We are constantly brainstorming for new ideas.”

Southern Trust Mortgage keeps staff motivated with its own version of the Emmys. The idea came from the episode ofThe Officein which they host the “Dundies,” according to Jarrett Stanley, senior vice president of marketing.

The Virginia Beach, Va.-based lender’s monthly awards are decided by peer voting on who best represents its six core values. Those half dozen core values are: amaze every customer, establish a positive family spirit, be a part of the solution, be passionate, innovate and be willing to change, and embrace growth and learning. The winners get customized trophies in the shape of the Southern Trust logo.

“People display them with pride. We just found employee the month to be very arbitrary in a lot of ways, because it's tough to measure an MVP of the month when everybody does such vastly different jobs. This is where the ST Emmys came into play,” Stanley said.

Founded in 2004, Scottsdale, Arizona-based Homeowners Financial Group emphasizes philanthropic efforts as the foundation of its company, using them as team-building activities among and as even as a determinant in the hiring process.

As the company expanded across the country, president and CEO Bill Rogers wanted to make sure community contributions were replicated at every HFG branch. Thus, the cultural committee formed and now comprises 80 of HFG’s 398 employees. Each year, the committee chooses four finalists for the Community Champion award, which rewards the employee who has made the most ambitious and far-reaching volunteer work.

In addition to a plaque, the champions get designations on their business cards and choose from a wide array of cash cards and tech prizes. 2020 produced co-winners, a servicing specialist who started an inner-city youth basketball league and a marketing manager who worked with a foundation for blind children.

“We're in an industry that can be very fruitful,” Rogers said. “Nothing makes me more excited than being able to help people that are really trying to make a difference outside of work in the communities they live and serve. I gladly will support those efforts and write checks to help them.”

In the ever-intensifying fight for talent, little things can make a big impact on retention. HFG’s Rogers reaches out with handwritten notes for employee birthdays and work anniversaries and sends employees several gift packages during the pandemic.

“People are the most important asset on our balance sheet,” he said. “We're in a highly competitive industry and you want them to feel like they're part of something special, that they are special and their efforts are appreciated. You can never do enough of that.”