Best Companies Remain Calm and Help Employees Carry On
Announcing The Principal 10 Best Companies for Employee Financial Security – 2011
August 23, 2011 (Des Moines, Iowa) – In this rocky economic recovery, ten growing businesses have provided stability to their employees with a commitment to benefits that brings both financial security and physical well-being.
These 10 organizations have been selected by an independent panel of judges for national acclaim as The Principal® 10 Best Companies for Employee Financial Security – 2011. They are:
- Associates for International Research, (AIRINC), Cambridge, Mass.; global mobility consultant
- Consolidated Federal Credit Union, Portland, Ore.; credit union
- Educational Commission for Foreign Medical Graduates, Philadelphia, Pa.; medical education testing
- Greeley and Hansen, Chicago, Ill.; environmental civil engineering
- Home Builders Institute, Washington, D.C.; residential construction training and education organization
- Postal Credit Union, Woodbury, Minn.; credit union
- RED F Marketing, Charlotte, N.C.; advertising agency
- Veridian Credit Union, Waterloo, Iowa; credit union
- Water Environment Federation, Alexandria, Va.; technical educational organization
- Western National Mutual Insurance Company, Edina, Minn.; property and casualty insurance
“These winning companies are taking a comprehensive approach to workplace benefits in order to reduce financial and physical stress of employees at all levels and demographics,” said Dallas Salisbury, Principal 10 Best judge and president and CEO, Employee Benefit Research Institute.
“The Principal 10 Best Companies understand the direct connection between well-rounded benefits, a healthier, happier workforce and a better bottom line. That’s what sets them apart from other companies in both the best and worst economic times,” said Luke Vandermillen, senior vice president at the Principal Financial Group®. “These winners prove that when companies help their best and brightest with their financial dreams, they win too.”
The Principal 10 Best Companies reap the rewards of strong benefits with turnover rates that are significantly lower than others in their industries. The winners’ average annual voluntary turnover rate is 9.3 percent compared to the national average of 21.2 percent.
This is the tenth consecutive year The Principal has sponsored the program. It honors growing companies (five – 1,000 employees) for their commitment to employees’ financial security through outstanding benefits. The 2011 winning companies range from 39 to 829 employees. Profiles of the winners are available at www.principal.com/10best.
10 years of employee financial security: the right thing to do
The program mirrors the changing benefits landscape across America: over of the past decade the best companies have adapted their benefits offerings to meet changing employee needs. According to some of the longest standing judges of The Principal 10 Best program, trends among this year’s winners exemplify three major transformations that have taken place over the last decade:
- A shift from do-it-for-them to do-it-with-them. As benefit programs have shifted from the employer making most decisions to employees facing more choices and personal financial responsibility, The Principal 10 Best Companies continue to share significantly in the cost. They engage employees through collaboration and strong education to help them make the best use of their benefit dollars.
- From cookie cutter to customized. The last decade witnessed a significant trend toward customized benefit programs tailored to specific employee needs and demographics. The Principal 10 Best Companies actively engage employees in helping to shape benefit programs.
- Security is financial and physical. Judges say the biggest change of the decade is the significant expansion of wellness programs. The Principal 10 Best Companies use a holistic approach to financial security with an increase focus on wellness as a way to lower healthcare costs for both the company and the employee.
“While we’ve certainly seen an evolution in benefits over the last ten years, what hasn’t changed is the winners’commitment to the people who made them successful,” adds David Wray, Principal 10 Best judge and president, Profit Sharing/401k Council of America. “Taking care of employees is good for business but these companies believe it is also the right thing to do.”
Learn more about The Principal 10 Best Companies for Employee Financial Security at www.principal.com/10best
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a retirement and global asset management leader. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, investment services and insurance through its diverse family of financial services companies. A member of the FORTUNE 500®, the Principal Financial Group has $335.8 billion in assets under management and serves some 16.5 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.
- “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
- As of June 30, 2011.