Columbus, Ohio-based Nationwide Mutual Insurance said it will raise its minimum pay rate to $15 per hour over the next nine months. The change affects approximately 900 current employees across 25 locations for jobs in call centers, field and staff office positions, the insurer said.
The $15 rate is more than double the federal minimum hourly wage and exceeds all current state minimum wages.
“This pay rate increase aligns with our values and reflects a change that is above the current market practice for certain roles,” said Gale King, chief administrative officer for Nationwide. “We believe increasing our base compensation level for these entry level jobs is the right thing to do and is yet another way we are maintaining our commitment to doing what’s right for our associates.”
The current federal minimum wage is $7.25 per hour. Most, but not all, states set their own minimum wages, which range from $5.15 per hour in Georgia and Wyoming to $10.50 per hour in the District of Columbia. A number of states including California, Connecticut Massachusetts, Minnesota, Maryland, Oregon, Rode Island, Vermont and Washington have set it at $9.00 per hour and higher. A number of states and municipalities have plans to raise theirs in 2016.
According to 2014 figures from the Bureau of Labor Statistics, 77.2 million workers age 16 and older in the U.S are paid at hourly rates, representing 58.7 percent of all wage and salary workers.
Nationwide joins several other large employers that recently announced they would hike their minimum wage. In February, Wal-Mart Stores Inc. announced it would raise its hourly wage to at least $9 an hour this year and to $10 by 2016.
McDonald’s Corp. said it would pay $1 above whatever the local minimum wage is. By the end of 2016, McDonald’s projects that the average hourly wage rate for employees at its company-owned restaurants will be in excess of $10. Also, the company said full- and part-time crew employees with at least one year of service will begin to accrue personal paid time-off.
King said Nationwide also offers a 401(k) plan with company match, a fully funded pension, educational tuition assistance, health and wellness benefits, and other benefits.
The company said half of all jobs at Nationwide are filled from within, and the company enjoys a low turnover rate.
Nationwide said it has hundreds of open jobs across the country for positions in customer service, claims and sales.
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