OneAmerica® Makes Major Investment in Workforce with Pathway to Sustainable Income Program
Coincides with new targeted research calling for Central Indiana businesses to advance opportunityIndianapolis, December 18, 2018
OneAmerica® announced investments it is making in its top priority; its more than 2,000 associates. As a leading provider of life insurance, long-term care protection, retirement-plan services and employee benefits to millions of American families, in the past five years, the company has doubled its financial assets and added more than 800 new jobs. In 2019, OneAmerica plans to increase pay for associates by nearly $7 million and has introduced a new program called the OneAmerica Pathway to a Sustainable Income. The program will allow associates on the lowest end of the pay scale, and who have three years of sustained strong performance, to earn the opportunity to move to $37,440 in total cash compensation.
This announcement comes as the Brookings Metropolitan Policy Program released a report today supported by the Central Indiana Corporate Partnership titled “Advancing Opportunity in Central Indiana.” The report shows only 35 percent of Central Indiana workers (264,000) without a bachelor’s degree held a good or promising job in 2017. In contrast, 73 percent (239,000 workers) with a bachelor’s degree held a good or promising job. A “good job” is defined by Brookings as providing health insurance and $37,440, or $18 an hour, in total cash compensation.
The report explores ways in which leaders from throughout the Central Indiana region can advance economic opportunity by focusing the region’s economic and workforce development efforts on Opportunity Industries, those industries that concentrate the region’s good jobs and promising jobs.
“Through programs like OneAmerica Pathway to a Sustainable Income, we can rebuild middle-class opportunities and make sure every job at OneAmerica is, or can become, a good job, “said J. Scott Davison, OneAmerica chairman, president and CEO. “We’re one of the top-performing companies in our industry, and this program is the right thing to do for our lowest paid OneAmerica colleagues who have committed their working lives to the company’s success.”
According to the report, 144,000 of Central Indiana’s workers struggle to make ends meet for their families and it will take 118,000 good and promising jobs to help close this gap. OneAmerica has identified 104 positions that didn’t meet the “good job” criteria as listed within the Brookings report. Through the Pathways program, those associates have the opportunity to move their level of pay with tenure and good performance. Combined with OneAmerica’s strong benefits and excellent retirement program, this enables every associate to sustain themselves.
“This move is important to us because the people holding these positions aren’t just names and numbers. We’ve previously concluded these positions can’t be outsourced for a better or cheaper result. It makes business sense to ensure that the people holding these jobs feel valued and have a chance to advance,” said Davison.
In addition to a new career framework, giving all associates a more transparent pathway to grow their careers, OneAmerica will continue focusing on improving job quality in Central Indiana through continued support of community efforts in education, services for working families and building a world-class business environment.
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A national leader in the insurance and financial services marketplace for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term-care-solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica.
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Contact: Brandi Davis-Handy, Vice President of Communications and Events
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