 |
||
|
|
||
| |||||||||||
Home bodies Thanks to its strategy of diversification, Centex Corporation has become the largest homebuilder in the country. The company's name derives from its location - its headquarters are in Dallas, deep in the heart of CENtral TEXas, although it is moving some subsidiaries to Plantation, FL. Centex's subsidiaries mix the cement, quarry the gypsum, sell the real estate, and arrange the mortgages for homes in 50 markets throughout the U.S. In addition, the Centex Construction Group is the largest commercial contractor in the country, with finished projects ranging from penitentiaries to Walt Disney World. Centex was founded by two Dallas homebuilders who capitalized on the postwar housing boom of the 1950s. During the decades that followed, the company augmented its home and commercial construction operations with a home financing business that is now the nation's second-largest non-bank mortgage writer. The company's national presence and size (Centex homes builds over 12,000 homes annually) have insulated it from the regional housing slumps that affect smaller homebuilders. Expansion In the future, Centex plans to increase its emphasis on commercial contracting, with a particular focus on jails, hotels, and schools. For now, it continues to expand, engaging in several acquisitions of smaller construction outfits. In 1997 it bought an 80 percent stake in Cavco Industries for around $75 million, and the following year purchased home builder Wayne Homes. Centex also ponied up $84 million for Manalapan, New Jersey-based Calton Homes Inc. as part of a push to move further into the Northeast. Meanwhile, the company has aimed to increase its global presence. In July 1998 it formed Centex Homes International, a division dedicated to home building investments in the United Kingdom. Five months later it established a Latin American operation. Through international diversification, Centex hopes to further fortify itself against slow cycles in the U.S. housing market, thus ensuring steady future revenue. Tree huggers unite! About the only thing bothering Centex in this booming housing market, has been the protests of tree lovers everywhere. In response to complaints by the Rainforest Action Network, Centex has stopped using wood from endangered and ancient forests in its homes. Ancient wood is probably not an option on the list of available upgrades in one of the recently opened Centex home centers. At these showrooms customers can browse through a bevy of options for their new homes.
With several major subsidiaries and hundreds of field offices, Centex maintains a decentralized hiring process that often relies upon local newspaper advertisements for recruiting. Centex's corporate headquarters, however, invites resumes from applicants interested in administrative positions there. The company does some "pretty limited campus recruiting" at schools including Purdue, Texas A&M, Penn State, Florida, Auburn, Cincinnati, and others. Competition is fairly stiff, explains one insider: "We believe we have the best there is to offer in the industry, and we are only interested in sharing that with the best individuals available." Another contact adds "we are competing for the best recruits, all of whom have some kind of co-op or intern experience." However, one insider commented that "interviews are not that stressful right now because the job market is so tight." Although Centex's web site provides links to its many subsidiaries, only the Centex Construction Group Web page, located at www.centex-construction.com/employ.htm, contains job listings.
Hang loose Centex employees enjoy the "freedom" of a "loose corporate structure" and a "flexible organization." They say, however, that the autonomy of each subsidiary and division results in a wide range of corporate cultures. "Centex is a fairly large company - for construction anyway - but Centex Rooney [a unit of Centex Corp.] and the other Centex-somethings really seem pretty independent from the parent company," says a source. "I know that things like raises are controlled by Dallas and probably other things too, but they don't seem to affect what we do in the trenches much." Office policies Some corporate policies are standard in most offices. For example, "there are dress codes without being too specific. [Just] be professional. [You can go] casual on Fridays in the office. Field staff can wear jeans every day, but must be neat in appearance." The "work hours are tough. The office people start at 8:00 officially, but certain people arrive at 7:00 or even 6:30... We are very schedule-oriented and do whatever it takes." This often means at least some time on weekends. Stay put, yet move around For all their toil and trouble, Centex employees are able to take advantage of a "healthy" discount on Centex homes, as well as frequent perks such as free tickets, free meals, company health clubs, and bonuses. Health benefits "are good - maybe not great - but you do get a choice between a HMO and PPO. The best thing is the profit sharing and retirement plan. For the past 12 years, Centex has contributed 10 percent of all salaries into your own 401(k) account." In addition, Centex's national presence gives employees the opportunity to relocate nearly anywhere in the country they wish. The company covers all moving expenses and offers a moving incentive bonus.
Human Resources
Home building;Home services;Investment real estate;Financial services;Contracting & construction services;Construction products More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
