Record sales in 2017 have led Colonial Life to increase employee compensation to a minimum of $15 an hour and implement a new paid parental leave benefit for mother and fathers.
The insurance company is also embarking on a $24 million renovation of its Columbia headquarters and expanding its charitable contributions, the organization said in a news release.
“These investments reflect our values and recognize the significant role that everyone at Colonial Life plays in delivering for our customers,” president and CEO Tim Arnold said. “2017 was a great year, and one that would not be possible without the dedication of all of our people.”
The pay raise will affect around 70 Columbia-based employees, Colonial Life said. The parental leave benefit, which takes effect later this year, provides eligible employees six weeks of paid leave to care for a newborn or adopted child.
Arnold said the renovation, featuring open workspaces with enhanced technology, will create a “more modern, collaborative and customer-focused environment.”
In addition, the Midlands will see up to $200,000 of the $1 million in additional charitable contributions pledged by Colonial Life parent company Unum, Arnold said. In 2016, Colonial Life employees contributed $2.4 million to regional charities as part of Unum’s nationwide total of $12.4 million.