As a full-service real estate development company, Thompson Thrift is developing more than residential, ground-up commercial, and mixed-use projects across the Midwest, Southeast, and Southwest—it is developing a culture of work-life balance and support for its employees.
Awarded top honors for all five of the 2024 Top Workplaces Culture Excellence awards, Thompson Thrift’s team members endorsed the company for its innovation; work-life flexibility; compensation and benefits; leadership; and purpose and values. The firm also earned a Top Workplaces USA Award earlier this year for the second time in a row.
Noting that executives and ownership set the tone for Thompson Thrift’s company culture, managing partner Josh Purvis says, “It flourishes when everyone is aligned and thriving within that culture. It's about getting everyone on the same page and fostering an environment where the culture can thrive. This requires intentionality and a commitment to maintaining a positive and supportive atmosphere throughout the organization.”
Through its core values of excellence, leadership, and service, the firm embodies its mission and competencies in everything it does, Purvis says. This includes making a positive impact in the communities where it operates through initiatives like TT Serve. “Whether it's participating in serve days, vision trips, or collection drives, these activities not only benefit the community but also foster a sense of purpose and unity among team members, strengthening our company culture,” he says.
Thompson Thrift is also quick to invest in the growth and well-being of its team members by creating a supportive and inclusive culture where employees feel valued and motivated. Purvis points to the Family Impact Benefits Program as a part of this supportive culture.
“The Family Impact Benefits Program demonstrates our commitment to supporting our team members in balancing work and family life, thereby enhancing team member satisfaction and loyalty, through four aspects: Live Healthy, Be Present, Go Play and Thrive Together,” Purvis explains. The firm also prioritizes promoting within and provides clear paths for career progression while investing in continuous learning and professional development opportunities.
For companies looking to boost morale, Purvis highlights these key insights:
Recognition: Team members are the firm’s greatest asset. Celebrating, recognizing, and rewarding their efforts helps to boost morale. When team members feel appreciated and valued for their contributions, it enhances their motivation and overall satisfaction with their work.
Company Events: Whether office, team, or companywide, these events provide opportunities for team members to socialize, bond, and have fun outside of work tasks. They foster a sense of camaraderie and belonging within the team and the company as a whole.
Active Leadership: When leaders are present and engaged with their teams, it fosters transparency, trust, and open communication. Team members feel more connected to the organization when they see their leaders actively involved and approachable, rather than being distant or secluded in a boardroom. This presence can help instill confidence in the company's direction and values, ultimately boosting morale among team members.
A goal for this year is for 85% of team members to participate in one TT Serve Area of Impact, Purvis says. The thriving culture is vital to the company’s lofty development goals for 2024, which includes eight project starts and residential/construction to meet or exceed unit delivery schedules. Thompson Thrift ranked No. 13 on the National Multifamily Housing Council's Top 25 Developers list and No. 14 on the Top 25 Builders list for 2024.
The firm’s pipeline includes projects in new markets including Utah; Atlanta and Savannah, Georgia; and Boise, Idaho; and returns to markets like Denver and Colorado Springs. There are three projects slated for Florida, five in Colorado, one in Boise, and a couple in Georgia, Purvis shares.
“We try to diversify our risk into different markets and not have too many ‘eggs in one basket,’” Purvis says. “In the past few years, we have been trying to grow our production so we needed to look to new markets for different opportunities to grow our pipeline without getting overexposed in some existing markets.”
