Providing Employees Shelter from an Economic Storm
10 award-winning companies tell how they did it in new guide from The Principal
January 26, 2010 (Des Moines, IA) - As the nation continues rebuilding from the economic crisis, a new guide offers lessons from 10 award-winning companies that not only survived but thrived during the downturn.
Their formula for success? Protect the financial security of the business by helping protect employee financial security.
The new benefits best practices guide tells how The Principal® 10 Best Companies for Employee Financial Security 2009 remained committed to strong employee benefits, even during the worst part of the economic downturn.
"Taking care of your employees takes care of everything else. They are your greatest asset," said Glenn Siler, president and CEO, Knoxville TVA Employees Credit Union, one of The Principal 10 Best 2009.
Selected by an independent panel of renowned benefits experts, The Principal 10 Best Companies found ways to strike a balance between budgets and benefits despite unprecedented financial pressures.
"The Principal 10 Best Companies view benefits as more of an investment than an expense," said Luke Vandermillen, vice president, the Principal Financial Group®, sponsor of the national program which focuses on small- and medium-sized companies. "They used commitment, creativity and communication to help protect the financial security of employees during one of the most financially insecure times in U.S. history."
The new guide delves into the best practices of these successful organizations, whose stories range from rebuilding entire benefit programs to making simple - but effective - enhancements. Organizations profiled range from banks and credit unions to foundations, associations and publishers.
The guide is a useful resource for benefits brokers and advisors and their clients including business owners, CFOs, human resources executives and others.
Available at no charge at www.principal.com/bestguide, the guide offers:
- A benchmarking chart for comparing their benefits with those of The Principal 10 Best Companies and national averages
- Easy-to-use checklists that can help companies fine-tune their benefits programs
- Compelling case studies that describe how The Principal 10 Best Companies navigated the economic crisis
"One of the most important things companies can do is benchmark their benefits. But it's also important to find innovative approaches to managing benefits," said Corey Rosen, executive director and founder, National Center for Employee Ownership and judge for The Principal 10 Best. "This guide is a great resource, highlighting tactics that people may not have thought of but would be easy to imitate."
Profiles of the 2009 winners are available at www.principal.com/10best.
About The Principal 10 Best Companies Program
The Principal 10 Best Companies is a national program that recognizes small- and medium-sized companies that excel at giving their employees a financial edge. Entries for the 2010 recognition will be accepted beginning February 1, 2010. For more information, visit www.principal.com/10best.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) 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 $280.4 billion in assets under management and serves some 18.6 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 plan administrative services are provided by Principal Life Insurance Company, a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.
Copyright © 2010 Principal Financial Services, Inc. All rights reserved