Nationwide Mutual Insurance Company is committing $160 million over five years toward Future of Work, a new reskilling and upskilling program. The company has also incorporated increased bonus incentive targets and is piloting a Summer Fridays program. It hopes the investment will enhance its business outlook and make it more competitive for talent.
"We must attract, develop, and retain the best and brightest," says Nationwide CEO Kirt Walker. He explains that the Future of Work program's purpose is "to elevate Nationwide as the desired destination for top talent and prepare our workforce for the future."
What exactly will the Future of Work program entail? According to the company, it will help workers improve their digital literacy and give them opportunities to undergo training on important future-ready skills. Each employee will receive an annual personalized learning curriculum focused on growing their skills, and Nationwide will provide reskilling opportunities specific to individual business units.
The firm says its investment in a broad upskilling and reskilling program was inspired by its previous experience with similar efforts on a smaller scale. "We've already had great success in reskilling within our IT organization," says Gale King, Nationwide's chief administrative officer. "We've also had success through apprenticeship programs."