US-based Fortune 100 insurance organisation Nationwide has announced a $160 million (£123 million) investment to enhance its benefits and compensation package for its 30,000 employees.
On 13 January 2020, the organisation announced its commitment to a five-year investment programme, including building a ‘summer Friday’ pilot program, giving employees the option to condense their hours into four days twice per month during summer, and a plan to increase the amount employees earn in their annual bonuses.
The five-year plan also aims to equip staff with increased digital literacy and future capabilities training, and includes the launch of an online ‘Future of Work’ centre in February 2020, through which each employee will be provided with a personalised learning programme.
Nationwide aims to add to the current benefits it offers to employees, which includes a $17 (£13.08) minimum wage, a maternity assistance programme which assigns a professional nurse to provide guidance through each trimester and following pregnancy, and 14 weeks of paid maternity leave, as well as 30 days for fathers, domestic partners and adoptive parents.
Kirt Walker, chief executive officer at Nationwide, said: “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.
“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.”
Gale King, chief administrative officer at Nationwide, added: “Our commitment to [employees] has to be holistic and must include helping them prepare for the future.”