What The Principal 10 Best Companies—2009 Say About...

The benefits of benefits

"Investing in quality people and having them stay with us for the long term really helps us produce a better service."
— Steve McDermott, CEO, PriMed Management Consulting Services, Inc.
"We need to care for our employees, because they're caring for others. Benefits are a great way for us to practice what we preach and give our employees a practical example. We want to take good care of them so they can take care of our patients."
— Chuck Flick, Director of Human Resources, Shenandoah Shared Hospital Services, Inc.
"Any company that makes an exceptional commitment to their employees gets an exceptional return on their investment."
— Bob Smith, CEO, Psychological Assessment Resources, Inc. (PAR, Inc.)
"It takes a long time to train people to be proficient, and the more experience they have, the better off the credit union is. If you see employees as your greatest asset, then you want to take care of that asset."
— Glenn Siler, CEO, Knoxville TVA Employees Credit Union

Managing benefits during this economy

"It seems like when the economy gets rough, benefits are the first place some employers look to cut costs. I'm not sure that's the best long-term approach. I believe we'll be better positioned than most other organizations because we haven't cut benefits. I believe that will absolutely work in our favor."
— Kathleen Stecky, Director of Human Resources, The Cleveland Foundation
"During these times, it would be easy to use the macroeconomic environment to say we're going to cut back. Employees would even understand it. However, we've chosen to be consistent. During good times, we haven't increased much, because we haven't needed to. During bad times, we're not taking anything away. We want a long-term philosophy that employees can count on for consistency, trust and continuity."
— Jim Harrington, Vice President Human Resources, Synaptics Inc.
"People are taking a more realistic look at the cost of benefits these days. They're more appreciative of it than perhaps they have been in richer times."
— Dan Robinson, Chief Administrative Officer, PriMed Management Consulting Services, Inc.
"We've learned to stick to the values of the organization—to be creative with the plan design and honest with employees about the challenges. When you put in a plan that is close to the values of the organization, it's a plan that can weather the storm."
— Deborah Hall-Pope, Chief Human Resources and Organizational Services Officer, ASCD
"This is a privately held company, and we as owners feel that maintaining benefits is well worth the investment. We'd rather sacrifice profit to be sure that our employees are well taken care of."
— Cathy Smith, Vice President, Community Relations, Psychological Assessment Resources, Inc. (PAR, Inc.)
"Everyone, especially in this economic situation, is looking for ways to cut costs. But you're better off taking care of your staff. Benefits are a huge part of that, and people are realizing that more and more. Down the road, it will pay off greatly."
— Glenn Siler, CEO, Knoxville TVA Employees Credit Union

Employee wellness

"When we first started our wellness program two years ago, our loss ratio was, on average, about 107%. Since then, it's dropped down to 63%. Wellness is definitely having a positive impact."
— Karen Roch, Vice President and Chief Personnel Officer, Credit Union West
"When it comes to our health insurance pricing, I believe wellness is having a direct impact on our expenses."
— Andrew Silsby, Senior Vice President and Treasurer, Kennebec Savings Bank
"I believe there is a measurable impact on our healthcare expenses as a result of our wellness program. We have seen doctor visits go down, and obesity has gone down, which we believe translates to cost savings. We think we can draw a direct link between our wellness program and these cost savings."
— Dan Robinson, Chief Administrative Officer, PriMed Management Consulting Services, Inc.

Helping employees through a recession

We really try hard to create an environment that allows the employee to focus on the work. Losing their benefits is something our employees don't have to worry about. That helps them focus on their work."
— Deborah Hall-Pope, Chief Human Resources and Organizational Services Officer, ASCD
"We've started holding quarterly, one-on-one meetings about our 401(k) plan. The meetings help employees look further into their investments and decide what to do in this economy."
— Dan Robinson, Chief Administrative Officer, PriMed Management Consulting Services, Inc.
"We have provided more education around our benefits through open enrollment meetings, one-on-one meetings and educational sessions."
— Laurie Wiest, Vice President of Human Resources and Training & Development, The Summit Federal Credit Union
"When the crash happened in the fall, we invited our retirement plan provider and other companies to come in to talk to employees about what they could do."
— Jim Harrington, Vice President Human Resources, Synaptics Inc.