7th Annual Search for Companies with the Best Employee Benefits
February 5, 2008 (Des Moines, Iowa) — Among the millions of growing businesses across the country that offer employee benefits, some go above and beyond to give their employees a financial edge in life. The Principal Financial Group® believes these standout organizations deserve to be recognized. Once again they have that chance as the seventh annual search for The Principal® 10 Best Companies for Employee Financial Security begins.
The program, sponsored by The Principal®, recognizes 10 growing companies (with five to 1,000 employees) that excel in providing a level of benefits and educational support that contributes to long term financial security for their employees.
Winners are held up as role models for other growing businesses and receive extensive national recognition and acclaim. Companies may request an entry form or enter online. Other businesses, financial professionals and peer organizations can nominate a company for the recognition at www.principal.com/10best. Companies are not required to be clients of The Principal to enter. Deadline for entries is May 1, 2008, and winners will be announced in the fall of 2008.
"We're looking for growing companies that provide great benefits and then some; giving their employees the support they need for a more secure financial future," said Renee Schaaf, vice president at the Principal Financial Group. "Past winners of The Principal 10 Best tell us that the recognition gives them a significant edge in competing for the best employees while reinforcing to their existing employees that they have a top-notch benefits package."
Winners are selected by an independent panel of judges who have substantial expertise in employee benefits. The judges' analysis focuses on several criteria, including breadth and depth of financial benefits offered, level of commitment by the company to its employees' financial security, and communication and educational efforts on benefit programs and financial security issues.
"We're deeply honored to be associated with a group that's considered best in class," said Larry Burton, executive director, Business Roundtable, one of The Principal 10 Best Companies—2007. "It really validates the work that we've done collectively to make this a top place to work."
Winning companies are able to use the recognition in their marketing and recruiting efforts. There are advantages for financial professionals who nominate clients as well.
"Financial professionals tell us that having a client selected as one of The Principal 10 Best helps cement their relationship with that client and gives them additional exposure and credibility with potential new clients," said Schaaf.
What winners receive
The winning companies' best practices and successes— such as reduced turnover, increased productivity and impressive employee loyalty—are showcased in a nationally distributed best practices guide. The newest guide, featuring winners from the 2007 program, is currently available on The Principal web site at www.principal.com/10best. The winning companies also receive free national and local recognition through advertisements and media coverage. In addition, the Principal Financial Group Foundation, Inc. will make a donation in the name of each winning company to a local charity of their choice.
More about Entering The Principal 10 Best Companies Program
- Entries for the 2008 search will be accepted from February 1, 2008, through May 1, 2008.
- The program is open to organizations with between five to 1,000 employees.
- To qualify, all entrants must have been based in the United States and have provided a broad range of employee benefits for at least five years.
- Qualifying companies must have, at a minimum, offered "traditional" employee benefits, such as those relating to retirement, health, life or disability.
- No entry fee is required, and companies owned by employees of The Principal are not eligible to enter.
- For more information, visit www.principal.com/10best.
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. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management2 and serves clients 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.
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 December 31, 2007.
