In addition to work performance, all salary and bonus reviews incorporate the company's PRIDE values. "We recognize not only what team members accomplish, but also how they accomplish it," Soave says. These values go a long way toward creating the collaborative work atmosphere in which employees thrive, he adds.
Matt Beatty, a 36-year-old senior BI analyst, joined the company in January 2011, and his compensation has more than doubled since then, he says.
"I'm given very little time to worry that I'm being underpaid," Beatty jokes. Yet his most valued benefit at the moment, he says, is the company's generous healthcare package. Credit Acceptance subsidizes 81 percent of employees' costs for healthcare.
"We have an excellent healthcare plan, and my wife and I just found out it covers adoption, which is something we've been talking about," he says. "It just happened to be on the list [of benefits] when we renewed our insurance at the beginning of this year. People asked for it, and they [offered] it."
Beatty is currently working on a project to roll out a new CRM tool for the sales organization. He was selected for the role because he had previous practical experience with sales reporting -- before joining Credit Acceptance he managed a restaurant. He also has a master's degree in public policy.
"My expertise in sales reporting, and my familiarity with sales processes, was unique in IT," he says. But the CRM project has been very broadening, he adds, because it has been quite technical. "I'm doing something I've never done before," Beatty says. "There's always an opportunity to challenge yourself so you don't get tired of what you're doing."
All told, Soave attributes the company's success to its "listening culture." Employees are polled quarterly about their concerns. "My job," he says, "is to scour those results and take action." One recent top concern: the need for more flavored coffee creamers.
"I consider that a win-win when one of the top items on your employee survey is adding vanilla creamer," Soave says with a laugh. "That's a pretty easy thing to act on."
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