Employee Development Through a ‘Pay for Skills’ Program
Elizabeth Mann Levesque, Brookings Institution
Batesville Tool and Die Inc. is a global supplier of precision metal stampings located in Batesville, Indiana, and employs approximately 450 people. The company has four other locations, more than 1,100 employees worldwide, and like many employers, it is creating innovative solutions to meet the challenge of developing a robust workforce.
For example, Batesville's new, internal skill-building system provides straightforward incentives—pay raises—for mastering new skills.
The company also partners with Indiana’s community college system, Ivy Tech, to create opportunities for employees to earn credentials and degrees. Earning a credential or degree pays off for employees, literally: Those who complete a program earn a raise as another part of Batesville's "Pay for Skills" program.