Company Background
Option One Mortgage Corporation, a subsidiary of H&R Block Inc., is a mortgage-banking firm involved in the origination, purchase, sale and servicing of residential mortgage loans. The company provides nonprime mortgage or home equity loans through a national network of brokers and lenders to creditworthy borrowers who do not meet traditional underwriting guidelines in order to help them achieve their dreams of homeownership or other important dreams such as consolidating high-interest credit-card debt, remodeling their homes or paying college tuition for their children. A wholly owned subsidiary, H&R Block Mortgage Corp. provides prime, nonprime and government loans directly to consumers. With corporate headquarters in Irvine, Calif., the company employs more than 3,800 people nationwide.

Emergent Company Highlights

Workforce Need: Retention of top talent as labor force dwindles and job market becomes more competitive

Emergent Practices: Focus on employee retention and satisfaction, work-life balance programs, responsive executives that react to employee needs

Programs: “Culture of Celebration,” semi-annual associate satisfaction surveys, management bonus tied to associate satisfaction, competency-based job selection program, tuition assistance, adoption assistance, telecommuting program, “wellness” activities, profit sharing and commuter assistance

Key Statistics:

• 80% of associates rate their company and managers highly, a slight increase from 2002

• Consistently low turnover rate – 23% in 2002

• 60% of associates referred by another associate arrangement

Emergent Practices Description

Option One Mortgage takes its “Culture of Celebration” moniker seriously. The company offers comprehensive development, work-life and benefits programs to enhance their associates’ lives – both inside and outside the workplace. These types of programs are extremely important to Option One executives because they believe that attracting and retaining top talent is the key to success of their company in the years to come.

From their first day on the job, Option One associates have a development plan built upon the company’s competency-based succession planning model. Therefore, each associate understands his/her role and how to succeed – both in job function and career progression. Executives are accessible and welcome interaction at all levels across the company to facilitate interaction and growth. Artificial barriers and excessive levels of management have been removed to empower all employees to collaborate and work together. Committees comprised of a diverse set of associates have also been developed to tackle a wide range of issues.

Option One also offers telecommuting options and flexible scheduling to allow associates to meet personal needs while working full time. In addition, Option One offers a “wellness” program that encourages healthy activities throughout each week. Tuition assistance is available for both job related and non-job related courses and is encouraged at all levels.