LendingClub (NYSE: LC) has received a nice recognition from the Salt Lake Tribune. A relatively recent presence in Utah, LendingClub has been rccognized as a Top Workplace for 2020.
According to a note from LendingClub, the list is based solely on employee feedback gathered through a third-party survey administered by an employee engagement technology partner. The anonymous survey measures 15 drivers of engaged cultures that are deemed to be important to the success of any organization: including alignment, execution, and connection, just to name a few.
Eric Rubino, Energage CEO – the firm that completed the survey, said in times of great change, it is more important than ever to maintain a connection among employees:
“When you give your employees a voice, you come together to navigate challenges and shape your path forward based on real-time insights into what works best for your organization. The Top Workplaces program can be that positive outcome your company can rally around in the coming months to celebrate leadership and the importance of maintaining an employee-focused culture, even during challenging times.”
LendingClub opened its doors in Lehi, UT in January 2019 and has grown the office to over 350 employees. Utah has emerged as a vibrant Fintech hub in the US due to its business-friendly government, healthy lifestyle and affordable living. It does not hurt that great skiing is nearby too. While LendingClub still has its HQ in San Francisco, a growing number of firms are exiting the Bay Area due to a government that is viewed as hostile towards business – combined with an exceptionally expensive cost of living.
“We are thrilled to be awarded this honor for the second year in a row as a Lehi workplace,” said Tina Wilson, LendingClub Chief People Officer. “Our Lehi office is central to the success of our members and our company. I’m humbled by how hard all of our LendingClub employees have worked, especially during this pandemic, to help our customers on a path towards financial success.”
LendingClub is a top provider of unsecured personal loans in the U.S. and is in the process of acquiring Radius Bank as it transitions from a marketplace lending platform to a digital bank. Recently, shares in LendingClub have been grinding higher for multiple reasons including the expectation it is well-positioned to turn the COVID corner in 2021. Setting up shop in Utah should also help it cut costs.