Global inclusion
We're creating and maintaining a work environment based on integrity, respect, community, and trust that enables employees to contribute to their full potential and to do their best work for our customers. It helps us deliver on our purpose, makes us a better company, and is simply the right thing to do.
Our commitment
Fostering a culture that empowers our employees and demands the best of our leadership by attracting and retaining great talent and fostering innovation while building a more inclusive, diverse, and engaged workforce and providing clear pathways for development, growth, and mobility.
Our goals
- Reach at least an 80% Global People Inclusion Index (GPII) score annually, encompassing authenticity, learning new things, sharing perspectives, and feeling valued and respected.
- Score 100% on the U.S. Diversity Index annually, consisting of measures that include hiring, promotion, and turnover rates for diverse individuals as well as inclusion-related learning opportunities and events.
- Measure employee satisfaction across our global workforce annually, with a target to reach a score of 79% on our Engagement Index in 2023.
Read about how we're delivering on our commitment in the 2022 Global Inclusion Report.
2022 Global Inclusion ReportOur commitment contributes directly to the following UN Sustainable Development Goals:
Employee engagement index
Transparent communication produced a surge in trust and dedication amid the pandemic.
Inclusivity in the workplace
We are building a more inclusive workforce, knowing that this will help us attract talent, increase employee engagement, and develop the next generation of leaders.
Global People Inclusion Index (GPII)
Annually, our goal is to reach a GPII score of 80% or above. Our GPII measures culture of learning and trying new things.
Diversity in leadership
Principal has a long-standing commitment to diversity and inclusion: Principal added our first female board member almost 50 years ago, and we’ve had minorities on our Board for more than 20 years. Our longest-serving female board member joined in 1992.
38% of our C-suite are women
9 Employee Resource Groups
Learn about diversity in our workforce.
Executive Inclusion Council
Our commitment to diversity and inclusion starts at the top. Dan Houston, our chairman, president and CEO, serves as sponsor of our Executive Inclusion Council. This team, comprised of cross-functional business leaders, are the guardians of our global inclusion strategy. Principal senior management and Human Resources Committee of the Board of Directors make diversity and inclusion a priority and are updated regularly on our progress.
In our business practices
At Principal, we prioritize diversity, equity, and inclusion, and shared values-seeking to create a thriving environment of authenticity, action, and accountability within our company and our communities. We are united in our stance against discrimination, hate, and violence understanding immediate and lasting effects created by these destructive behaviors on our employees, our customers, and our communities.
Our focus on diversity and inclusion is central to how we operate as a global company with a purpose of helping more people achieve financial security throughout their lives. Our specific measures include:
Accessible financial products
We provide affordable and user-friendly products and services to people from many backgrounds. We seek ways to broaden the accessibility of financial products through research, product design, and distribution pathways.
Supplier diversity program
Principal actively supports and facilitates the purchase of products and services from businesses owned or operated by individuals representing varied demographics. Our goal is to source at least 5.8% of eligible spend in the U.S. from diverse suppliers, amounting to $53.2 million through tier one and tier two spending. Learn more about our supplier diversity program.
Our sustainable sourcing efforts support our work in supplier diversity. Learn more about our sustainable sourcing practices.
Inclusive marketing practices
We work to ensure that all customers see themselves in our marketing materials, feel that Principal aligns with their values, and feel empowered to pursue their personal and professional goals.
Digital innovation
We’ve developed products, mobile apps, websites, and more, to help us reach millions of people, including populations in typically underserved customer groups and in developing or emerging markets.
Inclusive talent practices
Principal also has a longstanding relationship with the Iowa office of Jobs for America’s Graduates network (iJAG). iJAG’s mission is to provide support, skill development, and opportunities for underrepresented students at the highest risk of disengaging from school. Employees at all levels and areas of the organization participate as trainers, guest speakers, and mentors at schools across Iowa. Our employees volunteer to meet with students and teach resume building, college and career optioning, interview skills, and financial literacy.
Related Topic
Employee engagement
Talented employees are the heart and soul of our company. Their success is our success.
