“The old CEO tendency would be to say, ‘I’m just going to pay them more,’ ” says Mat Ishbia, CEO of United Shore Mortgage, the No. 1 wholesale mortgage lender in terms of loan production volume. This old-school thinking was based on the belief that “a job is what you do only to make enough money to feed your family.”

Mr. Ishbia was at the helm when United Shore started a major hiring push in 2009—the Michigan-based company has grown to 4,700 employees from 426 over the decade. Twelve-hour days are normal for Mr. Ishbia, whose father founded the company, but he realizes his employees want a life outside work.

“They’re not going to care about it the way that I do,” he says. “So I have to show that I care about them as much as I care about the business.”

Read More