In 2022, small and midsize businesses (SMBs) in the United States weathered macroeconomic volatility and a tight labor market. As a marketplace leader, Principal® is uniquely positioned to help them as they recover from from the past years’ unprecedented challenges, including new demands on hiring and retaining key employees.
Gained audience share and amplified our position as a trusted provider by uniting with organizations that support small business leaders, including Inc., the Small Business Digital Alliance (SBDA), and First Women’s National Bank.
Answered technology needs for SMBs by reimagining the most critical service interactions and end-to-end journeys for business leaders and their employees. This included streamlining our award-winning online benefits administration tool.
Addressed topical business challenges by investing in surveys and tools to identify what matters most to this segment.
Spotlighted some of our most successful customers, as they shared how they use benefits and retirement plans to help them retain talent. Business succession is also an important topic for SMBs and we are working closely with them to co-create easy-to-use business valuation tools and help them understand the various succession alternatives.
These led to good news: Principal is winning market share as our SMB capabilities, expertise, and local presence set us apart from the competition.
99.9% of all U.S. businesses employ less than 500 people
by # of employees
by # of NQDC/BOES employees
Stories from our clients
Offering a great benefit package is important and essential to recruiting top-level talent because it's a highly competitive market. If you're going to stand out, I think these are necessities in order to attract and retain.”
The benefits we offer are really just a tool to help employees achieve their goals. We’ve created an atmosphere where employees can focus on the important things and not worry as much.”
Renteria’s and Bob’s Red Mill’s viewpoints may not be representative of other clients' experiences. Renteria Vineyard Management, Farm Worker Concierge Service, Napa Valley Farmworker Foundation, Farm Worker Concierge Service, and Bob’s Red Mill are not affiliates of any company of the Principal Financial Group®.
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. ©2023 Principal Financial Services, Inc.