Principal Financial Group Says "Thanks Mom" for Being in Working Mothers Top Ten
Sept. 25, 2006 (Des Moines, Iowa) — Mommy, Mom, Mama or Dad - whatever they're called outside of work, employees of the Principal Financial Group® have access to benefits that make their workplace work for them. It's this diversity of family-friendly benefits and policies that helped make The Principal® one of Working Mother magazine's top ten "100 Best Companies" in 2006.
"We're so proud to be among the top 10 companies for working mothers, and prouder still that the programs and policies that make The Principal a great company for mothers benefit the great majority of our employees," said Jim DeVries, senior vice president of Human Resources at the Principal Financial Group. "As competition for high performing employees continues to grow, these types of programs help make The Principal a top choice for job candidates across the United States."
Time to Take Care
The Principal was recognized by Working Mother for benefits supporting flexibility. More than half of all employees took advantage of flextime last year. Also noted was the company's Working Caregiver Leave program, which allows employees to return to their job on a part-time schedule with full time benefits for 12 weeks while caring for a new baby or another family member. The leave allows additional time away from work after Family Medical Leave is exhausted, or for those employees who aren't eligible for medical leave.
In addition to traditional employee benefits, free health screenings are available to all employees. During 2005, they were entitled to four hours of paid "wellness time off" - one hour each month from September to December employees can use to take care of personal matters related to wellness. Employees also have eight hours of paid company time each year to volunteer. In 2006, each employee will again receive four hours of company time they can use to take care of matters related to wellness, and they will have the option of using the time to address personal finance issues.
"Family life and responsibilities don't end when an employee enters the door at work each day. If you're worried about your child or a situation at home, you likely can't focus 100 percent on your work. And vice versa," said DeVries. "Enabling employees to balance their work and personal obligations as needed throughout the day makes for happier and more productive employees - both at work and away."
For 21 years the Working Mother 100 Best Companies has celebrated employers whose groundbreaking benefits - from flexible schedules and child care to innovative leave policies for new parents - are helping redefine workplace standards across the nation.
"The Principal Financial Group is exceptional for its continuing commitment to working mothers, and we salute them for making the 100 Best," said Carol Evans, CEO of Working Mother Media. "Every year we see companies upping the ante, establishing new paradigms for quality of life among their employees and redefining the status quo for workplaces across the country. Among the many worthy entrants, the winners really set the gold standard."
The complete list of the 2006 Working Mother 100 Best Companies can be found in the October issue, or at www.workingmother.com.
Methodology
To apply for the Working Mother 100 Best, the Principal Financial Group provided Working Mother magazine with detailed information on seven areas of work/life balance including workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs and company culture. The Principal completed a 500+ question application, the most rigorous of its kind, which checked the availability, tracking and usage of programs to support working mothers, the accountability of managers to implement programs and the successful advancement of women into top paying jobs, board position and management ranks. The Principal was also required to submit benefits handbooks and supporting documentation.
About Working Mother
Founded in 1979, Working Mother magazine reaches nearly 3 million readers and is the only national magazine for career-committed mothers. Its 21-year signature initiative, Working Mother 100 Best Companies, is the most important benchmark for work/life practices in corporate America. The publication also releases the annual list of the Best Companies for Women of Color in the June issue. Working Mother is published by Working Mother Media (WMM), which also owns the National Association for Female Executives (NAFE), NAFE Magazine, the annual 100 Best Companies WorkLife Congress, as well as the Best Companies for Women of Color Multicultural Conference and regional Town Halls. This year, WMM launched its Best Small Companies for Working Mothers initiative.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206 billion in assets under management2 and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issued by Principal Life Insurance Company
1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of June 30, 2006.
