Now more than ever, top employers are upping their game when it comes to perks, incentives, training and benefits.
In a fast-changing and competitive job market, workers are seeking the best benefits and training, while employers are seeking to attract and retain the best and the brightest talent.
To address these dynamics, Nationwide recently announced a $160 million investment in its already comprehensive benefits package, including:
- A five-year investment to reskill and upskill its workforce, called the Future of Work;
- The Summer Friday pilot program, giving associates the option to take two Fridays each month during the summer;
- And, an increase in the amount they can earn in their annual bonus.
“We must attract, develop and retain the best and brightest talent to deliver on our mission of protecting people, businesses and futures with extraordinary care,” said Nationwide Chief Executive Officer Kirt Walker. “I’m proud that we are able to make key investments in our associates, try some new things to elevate Nationwide as the desired destination for top talent and prepare our workforce for the future. In so doing we will have talent that will deliver extraordinary care to our members and will innovate for our future.”
The Future of Work program is a five-year program to reskill and upskill associates. The investment will equip associates in digital literacy and future capabilities training. It includes the launch of an online Future of Work Center next month.
Annually, every associate will be provided a personalized learning curriculum focused on the skills for the future. Associates will have applied learning opportunities that assist with their development and provide additional exposure to other career opportunities. Reskilling opportunities will be business-unit specific and will include targeted career paths.
“Our people are our competitive advantage. We have and will continue to invest in them,” said Gale King, Nationwide’s chief administrative officer. “Our commitment to them has to be holistic and must include helping them prepare for the future. The advancements in technology, the speed of change, competitive forces and the resulting impact of automation requires that we be proactive in preparing our associates for a very different future of work – one that is heavily technology enabled.”
Nationwide has partnered with Columbus State Community College in Columbus, Ohio to provide reskilling resources to IT associates over the past several years.
“Nationwide’s leadership team has demonstrated great forethought and long-term vision to prepare its workers with future-ready skills and quality resources,” said Dr. David Harrison, president of Columbus State. “Columbus State has successfully partnered with Nationwide and other employers to offer workers the resources they will need as technology and consumer needs quickly evolve. We look forward to continuing to collaborate with Nationwide as they plan additional investments in their workforce.”
Summer Friday pilot
The Summer Friday pilot goes from Memorial Day through Labor Day. Nationwide associates who choose to participate will have the ability to condense five standard work days into four twice per month, giving them two Fridays off (where state law allows this to occur) each month during the summer.
Future of Work Associate incentive enhancements
All front-line associates will receive an increase in their incentive targets in response to market data.
These are in addition to Nationwide’s already competitive compensation and benefits, including:
- $17 per-hour minimum wage across the company
- 401(k) company match of 50% on the first 8% of personal contributions
- A pension plan
- A Maternity Assistance Program where associates are assigned a professional nurse who can provide guidance through each trimester of pregnancy as well as post-pregnancy support
- And, a paternity, maternity and adoption leave benefit of up to 14 weeks of paid time off for new moms and 30 days of bonding time for fathers, domestic partners and adoptive parents.
To learn more about benefits available to Nationwide associates, visit the Total Rewards package site at https://www.nationwide.com/personal/about-us/careers/job-benefits/.