NATIONWIDE INSURANCE
People Category
Nationwide Insurance, like many other companies, continually searches for ways to retain, enrich and engage its top performers. Nationwide understands that organizations must go above and beyond the normal means of retaining associates. Technical training, yearly merit increases, medical and dental benefits, 401(k) and free parking are becoming the norm, and are not unique enough to keep associates from straying! Nationwide does a great deal of investing in its associates, and does not want to see its trained and acculturated top talent walk out of the door when another employer shows interest.
In response to the retention challenge, Nationwide developed a tactic to not only preserve high performing associates, but to develop them into leaders and managers as well. The Leadership Development Program (LDP) was designed to help Nationwide maintain its high potential associates and deepen its existing succession plan. LDP helps to build a pipeline of leadership and general management talent across the Nationwide enterprise. This in-house program, designed and facilitated by Human Resources and several other Nationwide leaders, prepares high-potential, selected associates for future authoritative roles within the organization. The LDP is aligned with the Nationwide Leader Behaviors, which are skill-based competencies, such as command skills, humor and strategic agility, upon which Nationwide leaders are rated. LDP is also aligned with Nationwide business strategy in regard to succession planning and high-potential associate identification.
Of those who have successfully completed the program (51 associates), 49% have received promotions to a leadership position. The feedback from the LDP participants has consistently been positive. The part of LDP that is enjoyed the most by participants is the discussion with the Regional Leadership Team (RLT) regarding their careers and career paths. Participants enjoy learning how the members of the RLT have gotten to where they are today and any advice they can give to assist the participants in their journeys to leadership roles. Based on the 38.5% success ratio, the program has produced effective leaders and has given them an advantage that they would not have had if they had not gone through the program. This cost-effective, customized program has produced many leaders, some of whom are now members of the RLT. Being accepted into the LDP lets these associates know that they stand apart from the crowd and that they are identified as the future of Nationwide.
Photos: (Click on photos to enlarge)
