Nationwide: Insurance as an Information Industry
By Daniel Margolis —
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Retaining Techs
A big point of pride for Nationwide is its IT department’s high rate of retention — the average tenure of the company’s IT associates stands at 10.3 years. Stevens said average tenures are more like two-and-a-half to three years at other companies.
“Based on the resumes that my recruiters see cross their desks every day, three years tends to be the sweet spot that we see people making the job change,” he said. “Clearly, we’re not in the top 1 percent of compensation, given our geographic location — we’re in the middle of the Midwest [Columbus, Ohio], and we have a low cost of living, so we’re not going to lead the pack in compensation.
“There has to be a reason that our average tenure is 10.3 years, and I would argue that it’s our commitment to associates’ development and engagement. It shows you that we grow a lot of our senior leadership in-house, so even while I’m hiring at the lower level — the doers of the world — I look for that spark of future leadership ability.”
– Daniel Margolis, dmargolis@certmag.com
