What The 2005 10 Best Companies Say About Their Commitment to Employee Benefits

The Principal 10 Best Companies for Employee Financial Security on:

...employee benefits and business success.

“Our benefit program leads to employee satisfaction, which leads to customer satisfaction and retention.”
– Kristen L. DiSanto, vice president of human resources, The Washington Trust Company

“We think benefit plans are an important retention and recruitment tool and an important part of the overall compensation program.”
– Joanne Daly, senior vice president of administration, American Council of Life Insurers

“We’re a farm supply co-op, so we operate on a very thin profit margin. Others like us have dropped benefits, but we’re committed to keeping our benefit package intact. We make a real commitment to our employees, and it’s recognized. My secretary will be retiring in January, and she thanked me for keeping our benefits in place.”
– Rob Zeldenrust, general manager, Fremont Co-operative Produce Company

...employee retention, attraction and productivity:

“We offer great benefits because we truly care about our employees. We want to be able to retain the employees that we hire, and we want to recruit the best employees we can find. To meet those goals, it’s imperative that we have a very strong benefits package.”
– Jill Harper, vice president of human resources, Campus USA Credit Union

“Benefits do help with profitability. You are helping to reduce training and recruiting costs. We also have a very committed workforce. People want to stay here for their entire careers, and they know their job inside and out. They’re committed to quality.”
– Krista Howland, human resources administrator, Flexible Steel Lacing Company

“I don’t have many employees leave the company. Part of that is because of the benefit package. If you look at the cost of employee turnover and compare it to what the benefits cost the company, I question whether some of these companies today should be cutting their benefit packages.”
– Rob Zeldenrust, general manager, Fremont Co-operative Produce Company

“We’re a technical, specialized organization. Low turnover means we only have to go through the educational process once.”
– Nick Brown, president and CEO, Southwest Power Pool

...controlling the cost of medical insurance:

“Our health care cost per associate per year was significantly below the national average. I really believe our wellness benefits make a difference. It has paid off not just in health care dollars, but in the culture and the overall loyalty to the company of employees.”
– Sandra Brown, vice president of human resources, Glatfelter Insurance Group

“If our experience is bad, we communicate that to employees. You have to communicate and talk about why you’re making changes.”
– John Roberts, senior vice president of human resources, GuideOne Insurance

“We’re continually working with our broker to determine if there are any areas in which we can improve, whether it’s rolling out a new plan or staying current with the industry. We’re also educating employees more on health care costs and encouraging them to use generic drugs.”
– Krista Howland, human resources administrator, Flexible Steel Lacing Company

...helping employees prepare for retirement:

“We hired an independent registered investment advisor to help us manage the investment options in our 401(k) plan. Bringing in that advisor has helped us meet our fiduciary responsibility and also helps our employees get one-on-one advice.”
– Nick Brown, president and CEO, Southwest Power Pool

“We think it’s really important that we offer employees a combination of life insurance and annuities, because this is the perfect way to protect against the possibility that we live too long or die too soon.”
– Joanne Daly, senior vice president of administration, American Council of Life Insurers

...taking care of employees:

“I want people to go to their class reunions and say that they’re proud to work at the Freemont Co-op. Having a good benefit package really makes that happen.”
– Rob Zeldenrust, general manager, Fremont Co-operative Produce Company

“We are very concerned with protecting our employees’ security. We appreciate our employees, and great benefits are a great way to show it.”
– Susan Cutter, vice president—human resources and operations, American Lung Association

“We work hard to provide a good package of benefits for our employees.”
– Jeff McAulay, vice president of finance and administration, Moran Towing Corporation