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Employee Engagement

We recognize the importance of developing, engaging, and protecting our greatest asset – our employees.

Talent development

We strive to enhance the skills of our workforce by offering collaborative and effective training programs, including eLearning opportunities. We offer a management development program, as well as a STAR Values development program for all team members, which focuses on our company’s core values of Service, Trust, Accountability, and Results. And we’ve kept a largely remote workforce informed and engaged about their own developmental opportunities.

Employee benefits & well-being*

At Flagstar, the tailored solutions we extend aren’t just for our customers. They are for our employees as well. So, we provide them with competitive pay, programs to facilitate financial security, and plans that support their health and overall well-being.

 

Financial advantages

  • $15 per hour minimum wage
  • Market-driven competitive pay practices
  • 401(k) employer match
  • Mortgage rate discounts and free checking accounts
  • Referral bonuses
  • Technology, travel, and entertainment discounts (StarPerks)

 

Employee and family benefits

  • Over 3 weeks paid time off for most employees
  • 11 corporate holidays, plus 2 floating holidays
  • 1 paid community involvement day
  • 1 paid wellness day
  • Up to 5 paid days for bereavement
  • Paid short-term disability leave (up to 26 weeks)
  • Paid time off to vote

 

Well-being

  • Subsidized insurance offerings (including medical, dental, life, disability)
  • Voluntary benefit offerings (including vision, flexible spending accounts, accident, hospital, critical illness, group legal, auto, home, pet)
  • Employer Health Savings Account contribution
  • Paid wellness day
  • Paid COVID-19 sick time
  • Employee assistance program
  • Financial wellness/coaching program
  • Free immunizations (physician or pharmacy)

 

*Applicable to legacy Flagstar Bank employees.

Employee satisfaction

We regularly conduct employee surveys to assess job satisfaction and boost our ability to attract, develop, and retain talented team members. We maintain open communication with our team members through various channels, including email, intranet, newsletters, town halls, and executive videos and messaging.

COVID-19 response & workplace safety

As the COVID-19 pandemic evolved, the health and well-being of our team members remained our top priority. Throughout 2022, we maintained safety protocols to help protect employees and customers.

 

The protocols included broad-based work from home options for most employees, travel restrictions, social distancing, daily health screenings, safety incident reporting, and deep cleaning practices at all our facilities, including our customer-facing locations. All protocols comply with applicable government regulations and guidance.

 

We continued to offer all employee training virtually and provide remote workers with appropriate equipment and resources as needed. In addition, employees were provided with paid time off to obtain COVID-19 vaccinations and paid COVID-19 sick time.

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