We believe that delivering strong financial results while also contributing in a positive way to all of our stakeholders is the definition of true success. We strive to provide a work environment that attracts, develops, and retains top talent by creating an engaging work experience with opportunities for development. Further, our engagement with residents, community members, vendors, and others helps build strong connections that benefit our communities.
Our associates are our most precious resource, and we strive to promote a workplace where everyone is treated fairly and where we act with honesty, integrity, and respect. Our company culture is that of a welcoming fun family where everyone’s opinion is heard and valued, and where we regularly share how associate feedback is shaping our processes and policies. We also recognize the value of providing regular development opportunities that stretch our associates and help them advance their skills and knowledge.
We believe that diverse and inclusive companies make for more innovative, engaged, and happy teams. Our organization makes it a priority to celebrate diversity and cultivate a culture of inclusion. Invitation Homes is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.
Additionally, our company’s workplace wellness initiatives, such as health and wellness services, promote a healthy company culture, and demonstrate managerial support for associates’ physical and emotional well-being. Invitation Homes is committed to associate health and welfare by providing a competitive benefits package, including health, dental, vision, term life, and disability insurance. Furthermore, we put the safety of our associates at the forefront of everything we do and as such have established a national safety committee that provides direction, resources, and monthly awareness and education initiatives to associates.
Stance on Diversity & Inclusion (D&I)
We recognize that diversity encompasses a wide range of characteristics, including cognitive perspectives, education, life experiences, race, gender, ethnicity, sexual orientation, etc. At Invitation Homes, we believe in creating a diverse and inclusive culture where any person can thrive. We are committed to fostering an environment where every associate feels a sense of belonging. By empowering our associates, they can reach their maximum potential.
Why D&I Matters to Us
Our D&I stance contributes to our overall business strategy and serves as a catalyst for retaining our associates, recruiting diverse talent, and building beneficial business relationships with key stakeholders. This business imperative will help us increase our diverse workforce, retain and upskill our talent, and enhance our company’s culture. In turn, this will progress our standing as an employer of choice and the nation’s premier home leasing company.
We Care About Our Associates
We invest in our associates through listening, training, and support. Examples include:
- Leadership Essentials training (includes Unconscious Bias module)
- Genuine Care calls (open dialogue with associates on D&I)
- Our Family. Your Voice. continuous listening tool for associate feedback
- Inclusive onboarding experience
- Employee Resource Group engagement
Building Bridges of Belonging
At Invitation Homes, we have one Employee Resource Group (ERG) to date. The Together with Women (TWW) ERG was established in the Corporate Dallas office in 2019 by a grassroots group of women who were seeking to create an opportunity to more formally network with each other and learn from colleagues. TWW, which is inclusive and open to all associates, has hosted several events geared toward business and personal growth.
Investing in Associates Through Training and Development
Each year, we conduct an annual compliance training campaign. Associates complete assigned e-learning modules that highlight important sections of our Code of Business Conduct and Associate Handbook. In 2020, associates completed courses on anti-harassment, Grant of Authority, emergency preparedness, and technology security awareness. We offer more than 3,100 online learning and development videos designed to help associates build their skills.
In November 2020, we launched our Leadership Essentials training program. Approximately 90 leaders were enrolled for 2020 courses, and all 250 leaders are expected to complete the training by the end of the first quarter of 2021. This three-day training is part of our effort to build capable and confident leaders that can lead and inspire a diverse workforce in an ever-changing environment.
In 2020, we promoted 79 associates into roles where they have an opportunity to learn, grow, and take on additional responsibilities.
In 2020, we transitioned from an annual engagement survey to a continuous listening survey, called Our Family. Your Voice. Each month, we email a link to all associates where they can score the company on various topics and provide written comments. The results for each team are then shared anonymously with the team’s leader who is then able to discuss the results/comments with their team. The survey series features a broad selection of questions that cover how associates feel about our company culture, how they’re managed, and the direction of the company as a whole. Associate feedback directly affects decisions made by our leadership.
Compensation and Benefits
Our company seeks to offer competitive, affordable benefits to associates and to provide access to quality health care. Additionally, we provide extensive resources during the enrollment process to ensure associates select the coverage that aligns best with their family’s needs.
Invitation Homes has a formalized pay structure that creates consistent and fair compensation practices and offers associates transparency around their total rewards. The formalized pay structure aligns roles, titles, and components of compensation across the organization and guides our overall philosophy. Our pay practices enhance our ability to attract and retain top talent. In 2020, we undertook an exhaustive review of this compensation structure across every level of the organization to refine and ensure equity and consistency.
In 2020, we assessed our current benefits offerings, which included an evaluation of our current state of wellbeing, recommendations to guide and enhance our current offerings, and a review of the archive of tools, resources, and trainings available through our vendor.
As a result, we’ve created a three-year plan to add comprehensive components of mental health services, physical health programs, and financial literacy education to round out our associate wellness offerings.
Our Employee Assistance Program (EAP) is free for our associates and everyone in their household. EAP offers a variety of services to help associates manage:
- Depression, anxiety, stress, and other mental health needs
- Substance abuse
- Relationship issues
- Parenting and family issues
- Living with chronic conditions
- Child and elder care
- Financial wellness
Enhancing Workplace Safety
Invitation Homes is dedicated to continued excellence in protecting the health and safety of our associates. Therefore, we created the Injury and Illness Prevention Program (IIPP) to create, build, and establish safety in every aspect of our business. Our Safety Committee meets regularly to review safety policies and develop and distribute educational tools for associates.
Driver Safety Initiatives
Invitation Homes leases and manages a fleet of several hundred vehicles, including vans, trucks, and sedans that are used by field-based associates to facilitate travel necessary to perform core business functions, including home maintenance, rehabs and turns, and leasing. In concert with the Invitation Homes’ Vehicle Use Policy, we’ve developed a formal Fleet Vehicle Safety Program to improve driver safety and reduce enterprise risk associated with driver behavior and habits.
Proper maintenance of our fleet vehicles is another important safety precaution. As a result, all our fleet vehicles receive regularly scheduled maintenance following manufacturer recommendations.
Approximately 70% of our fleet vehicles have been updated to 2019 and 2020 model vehicles with higher fuel efficiency ratings, improved safety features, and telematics (GPS) devices.
We recognize that the vitality of our business is directly linked to the vitality of the communities in which we operate. We invest in upfront renovations of our homes and maintain them to high standards through timely maintenance services. We believe that these investments benefit our communities by creating jobs, enhancing neighborhood appearance and livability, and improving the overall quality of life for our residents and their neighbors. In addition, we believe such investments improve our relationships with local communities and homeowners associations.
To promote these relationships, we encourage our associates to be good neighbors in their respective communities by partnering with local organizations to provide support to those in need. We’re actively engaged in a broad range of community and philanthropic activities in our markets, contributing funds nationwide, and encouraging each of our associates to be active in their communities by providing 20 hours of paid volunteer time each year.
We’re a long-term investor in each of the markets where we operate. We hire locally, employing more than 1,200 hard-working associates and contracting with hundreds of professional service vendors nationwide. We take good care of our homes, increasing the value of nearby houses and neighborhoods. In 2019, the company paid approximately $296 million in state and local taxes; money that was invested back into local schools, roads, and social services. Each year, we contribute about $250,000 to charitable organizations nationwide and encourage each of our associates to be active in their communities with 20 hours of paid volunteer time. To see our impact broken down by market, view our community impact fact sheets.
We believe our values of Genuine Care and Standout Citizenship should extend beyond the walls of our offices and drive our desire to be a good neighbor in each of our communities. As one of the four pillars of our business, community impact is in our DNA. That’s why we encourage our associates to spend time partnering with local organizations to provide support to those in need in their communities.
While we have a companywide mantra of “Go Do Good,” much of our community engagement is locally driven. We believe in empowering our associates to make an impact in the communities where they work and reside. In 2020, we recognized that COVID greatly increased the rates of food insecurity across our markets and we contributed money to food banks in each of our locations. We are proud to support the wonderful work of the following food banks.
Atlanta – Atlanta Community Food Bank
Carolinas –Loaves & Fishes
Chicago –The Greater Chicago Food Depository
Dallas – North Texas Food Bank
Denver –Rocky Mountain Food Bank
Houston – Houston Food Bank
Jacksonville – Feeding Northeast Florida
Las Vegas – Three Square
Minneapolis – Neighbors, Inc.
Northern California – Placer Food Bank
Orlando – Second Harvest Food Bank of Central Florida
Phoenix–United Food Bank
Seattle – Northwest Harvest
South Florida – The Pantry of Broward Inc.
Southern California – The Foodbank of Southern California
Tampa – Feeding Tampa Bay
Another focus in 2020 was supporting and contributing to social justice organizations that are working to make positive societal change. In 2020, we proudly contributed to Operation Hope, the NAACP Legal Defense Fund, and Global Dignity.
By offering quality homes in attractive neighborhoods, we believe we give residents the choice to lease a home in a community that may not have otherwise been attainable. We strive to provide our residents with a worry-free leasing lifestyle through service that includes welcoming them with an in-person home orientation at move-in, making their lives easier with our Smart Home technology and other ancillary service offerings, providing 24/7 maintenance combined with our best-in-class ProCare property management platform, and surveying residents to ask for feedback that can help us make their experience even better. We have been successful at driving consistently high resident satisfaction by promoting a culture of “Genuine Care,” including through a formal Genuine Care recognition program and by linking all associates’ compensation to resident satisfaction.
Invitation Homes residents are overwhelmingly satisfied with and positive about their experience with our company. More than 80 percent of our residents renewed their leases through the first three quarters of 2020, which we believe is the ultimate scorecard of resident satisfaction. Our average resident lives in their home for more than three years, twice as long as most people stay in a multi-family rental property. On average, in the first 9 months of 2020, we maintained a 97+ percent occupancy rate.
Maintaining consistent and transparent communication with our residents is a priority. In 2020, we updated resources on our external website to promote transparency, including:
- A step-by-step guide to our application process, including detailed qualification requirements, for potential residents.
- A detailed move out guide to inform residents of the steps to take when moving out of one of our homes, as well as tips on how to receive their full security deposit back.
We also believe it is important to listen to our residents, and we take their feedback to heart on our quest to continuously enhance the Genuine Care we provide. We survey residents at each key step in their journey with Invitation Homes, such as at move-in and move-out, and after every interaction they have with an Invitation Homes associate or vendor. We use this feedback to hold ourselves accountable, with 100% of our associates having a portion of their compensation tied directly to resident satisfaction survey scores. We also use feedback from surveys and focus groups to help inform new service offerings and enhancements we make to the resident experience.
In addition to our website and resident surveys, we engage with our residents through monthly resident newsletters, blog posts, and social media campaigns and contests.
Resident Newsletter – sent out the first day of each month, these digital newsletters feature leasing lifestyle recommendations, tips for making the most out of our homes and services, social media contest information, key dates, and important reminders.
Blog Posts – blog posts cover a variety of topics, from sustainability practices to outlining our business operations to highlighting our philanthropic endeavors across each market.
Social Media Campaigns and Contests – residents enjoy participating in social media contests across platforms, and we hold contests throughout the year. One of our most popular contests is the “There’s No Place Like Home” Scholarship Contest, which awards four $2,000 college scholarships to highly motivated students.