What The Principal 10 Best Companies-2004 Say About Their Commitment to Employee Benefits

The Principal 10 Best Companies for Employee Financial Security on:

...employee benefits and business success:
"Our strong benefits program definitely affects the bottom line. Employees who have a longer tenure are more knowledgeable. As a result, they're more efficient and more productive. They can also provide quality service to our members, so member retention and satisfaction increases."
- Mary McDonald, president and CEO, USA Federal Credit Union

"We have very high levels of customer satisfaction and customer repeat buys. Employees who feel good and feel that they're treated well are going to give better customer service."
- Susan Reese, vice president of strategic development, Leupold & Stevens, Inc.

"Training [new employees] is very expensive. Our benefits result in low turnover."
- Jeff Shank, CEO, First National Bank of Greencastle

"If you expect loyalty from good employees, you've got to be loyal to them. I think the most important way you can be loyal to them is to provide these key essential benefits. With that kind of confidence, you can build a real team effort."
- Dr. Peter Cressy, vice president and CEO, Distilled Spirits Council of the United States, Inc.

...taking care of employees:
"Employees give us their best, so we need to make sure we provide benefits that give back to employees. We make sure they have the opportunity for financial security, and we also provide a lot of wellness programs-we want to make sure they live long enough to enjoy their retirement."
- Nancy Ayres, general manager, Clipper Belt Lacer Company

"We take the view that as an employer, we have an obligation to our employees to give affordable support for a variety of benefits. That is a way of having people be interested in working here, in staying here and feeling they are in partnership with the organization."
- Dr. Henri R. Manasse, Jr. PhD., ScD., executive vice president and CEO, American Society of Health-System Pharmacists

...the rising cost of medical insurance:
"We're aware that we're in an environment of increasing costs and unknowns, so we keep in constant contact with our insurance carriers and start conversations earlier."
- Mark Campobello, associate executive director of finance, American Urological Association

"We encourage employees to use our programs wisely. We've had meetings on generic versus brand-name drugs. We have also addressed using emergency room visits wisely. We try to target areas where employees may not be using benefits in the most economical manner."
- Bob McCrary, human resources manager, ELTECH Systems Corporation

...the impact of wellness programs on healthcare costs:
"One employee, who was on blood pressure medication, started working out regularly here. After six months, he got off the drugs. Another was on a cholesterol-lowering drug. After exercising more regularly, he was off that drug."
- Nancy Ayres, general manager, Clipper Belt Lacer Company

"It's hard to quantify the cost savings, but we know we have had early detection of some potentially significant health concerns [as a result of on-site health screenings]. On occasion, an individual has been sent immediately to a hospital or doctor due to high blood pressure. We have detected diabetes that people were unaware of. Obviously, the early detection has helped with saving some costs."
- Marilyn Deal, vice president of human resources, Pharmacists Mutual Insurance Company

...employee retention, attraction and productivity:
"Very good people always have choices. If you want to get the very best and keep them, you have to provide them the right balance of pay and benefits."
- Dr. Peter Cressy, vice president and CEO, Distilled Spirits Council of the United States, Inc.

"We recently hired an employee at the officer level. Our benefits program was a big plus."
- Jeff Shank, CEO, First National Bank of Greencastle

"You can't just say, 'We're going to be the best in benefits.' It evolves over many years. You have to have employees' confidence that we're all in this together."
- John Keel, president, RATHBUN INSURANCE AGENCY

"If someone's worried about their finances, it's taking their mind away from their job, and they're not as productive."
- Nancy Ayres, general manager, Clipper Belt Lacer Company

"Our product quality and excellent customer relations are due in large part to retaining an experienced group of employees. These people help retain our customers. There's no doubt that a good benefits package helps us maintain that experienced workforce."
- Clyde Schock, senior vice president and CFO, ELTECH Systems Corporation