The Columbus, Ohio-based insurance company, Nationwide, will invest $160 million in its workforce over the next five years, the company has reported.
The money will go toward attracting, developing and retaining talent, and will include investments in reskilling and upskilling its current workforce, as well as an increase in bonus incentives.
The company said it also is enhancing benefits and introducing a Summer Fridays pilot in 2020.
With major employment hubs in Columbus, Ohio, Des Moines, Iowa, and Scottsdale, Ariz., Nationwide employs 28,000 associates across the country.
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.
All front-line associates will receive an increase in their incentive targets in response to market data.
The company this year is piloting a new program that provides summer flexibility. From Memorial Day through Labor Day, Nationwide associates who choose to participate will have the ability twice per month to condense five standard work days into four twice per month, giving them two Fridays off each month during the summer.
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