Principal Provides Examples of Winning Benefit Programs

November 10, 2003 ( - Plan sponsors looking for benefit programs to model an employee retention drive after should take notice of the Principal's Innovation at Work: A Guide to Best Practices in Employee Benefits.

The guide examines the benefits strategies of The Principal 10 Best Companies for Employee Financial Security, a group of small and medium-sized businesses – those with between five and 1000 employees – from across the nation recognized in 2003 for their employee benefits programs. Detailed in the guide is how the list of companies handled increases in benefits costs while ensuring that their employees appreciate and take advantage of the benefits they offer, according to a news release.

From this, Principal complied a list of tips and solutions based on the strategies that worked for the 10 companies.   These strategies apply to retirement plans and health-care benefits and include a checklist to help employers identify gaps and solutions in their own benefits programs and a tool for companies to benchmark their programs against others across the nation.

The Principal 10 Best Companies in 2003 are:

  • CEF Industries
  • Delta Dental Plan of Iowa
  • Farmers Mutual Hail Insurance Company of Iowa
  • Hypertherm, Inc.
  • Lancet Software Development Inc.
  • MEEMIC Insurance Company
  • MSU Federal Credit Union
  • Noesis, Inc.
  • Parr Instrument Company
  • Strata Environmental Services, Inc.

The Principal Best Practices Guide is available at .