Since some of the code is tied in with vendor products, and Principal won't receive upgrades until 1998, Wilson anticipates the rest of the work will be completed by the end of next year. The program has not caused any resentment, says Wilson. Typically, those people who aren't eligible haven't been on staff long enough and don't have the appropriate system development skills. The work can be done anywhere the programmer chooses, as long as it is after regular work hours. Internal contracting is now being offered for other IT projects under way at Principal.
Compensation varies depending on the project.
Word about Principal's program has spread, and Wilson says he has been contacted by more than 50 companies seeking information, including Northwest Airlines, Marriott Corp., Traveler's Life and Annuity, and State Street Bank. Likewise, Great-West Life's program has caught the attention of Centra Gas Manitoba Inc., in Winnipeg, Manitoba. Bob Coot, year 2000 project leader, says there are a number of administrative aspects now being looked into to determine whether this can be offered. But Coot wholeheartedly endorses the idea. He also cites the reduced cost to the company by offering the work in-house, the growing scarcity of external contractors over time and the opportunity for employees to earn extra money.