Investment firm anticipates growth despite virus
Chad Ellis was one of just six employees when he was hired at a year-old Hilltop Residential in 2018. Today, the company employs about 140, and Ellis, the chief financial officer, anticipates the company’s workforce will grow to 170 or 180 by the end of the year.
Even when the pandemic forced widespread shutdowns, the real estate investment company, deemed an essential business, made it through without layoffs. Ellis said the company has continued its success since the government let the economy reopen.
“We were going to keep everyone around even if there was pain for us,” Ellis said. “Fortunately, there wasn’t, and we saw revenue increase.”
Hilltop ranked third among small companies in the Houston Chronicle’s list of Top Workplaces. Headquartered in Houston, Hilltop Residential acquires, renovates and manages multifamily housing and currently owns about 18 apartment communities totaling approximately 5,000 units.
Operations went remote for a little while, but by June 1, the company’s workers were back in the office. Everyone was given the option to stay home, but nearly everyone came back except for a few employees with immuno-compromised family members.
The company tried to make sure employees knew they felt appreciated. After the IRS announced in August it would allow employers to defer withholding the employee portion of Social Security taxes from paychecks, Hilltop Residential opted to do so. Ellis said the company will pay the back payroll taxes when the deferrals end, if that’s necessary, essentially giving its workers a 6.2 percent raise.
“Here we are considerate about both people and the company,” Ellis said.
Hilltop Residential gave employees rapid tests, and if they got sick, they bought them groceries and meals. Before COVID, there was also a strong sense of community within the company, Ellis said.
“Whether it’s a birthday or a workplace anniversary, we want to know what is going on in people's lives,” Ellis said. “We want to be there to celebrate with them or give our support during a tough time.”