As so it begins. Conventional wisdom of a “new normal” in the wake of the COVID-19 crisis dictates greater future work-from-home orders for American workers. Financial services are no exception.
Nationwide took that step yesterday, announcing it will permanently transition to a hybrid operating model that combines working-from-office in four main corporate campuses and working-from-home in other areas.
The company will close a number of offices and limit on-site employees to four main locations:
- Central Ohio (including downtown Columbus and Grandview Yard);
- Des Moines, Iowa;
- Scottsdale, Ariz.; and
- San Antonio, Texas.
The locations were selected based on a large concentration of associates, the flexibility to serve customers across time zones and ongoing access to talent and subject matter expertise.
“We’ve been investing in our technological capabilities for years, and those investments really paid off when we needed to transition quickly to a 98 percent work-from-home model,” Nationwide CEO Kirt Walker said in a statement. “Our associates and our technology team have proven to us that we can serve our members and partners with extraordinary care with a large portion of our team working from home.”
Closing locations
As of Nov. 1, 2020, the following locations will move to permanent remote-working status.
- Gainesville, Fla.
- Harleysville, Penn.
- Raleigh, N.C.
- Wausau, Wis.
- Richmond, Va.
Over the next several months, the company will finalize details, including technology and equipment needs, support mechanisms and telework agreements. Nationwide remains committed to its philanthropic efforts throughout the country.
Nationwide says it swiftly moved to a work-from-home posture in mid-March to preserve associate health and well-being and with the intent of flattening the COVID-19 curve.
“Our goal is to ensure that when a recovery comes, we’re prepared to win business with competitively priced solutions while enhancing our resiliency and operational efficiency,” Walker concluded. “We’re technology-enabled, people-connected and mission-driven. I remain extremely optimistic about our future.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
