According to a press release, the winners’ average annual voluntary turnover rate is just 9.3%, compared to a national average of 21.2%. In this, the tenth consecutive year The Principal has sponsored the program, the 2011 winning companies range from 39 to 829 employees.
“These winning companies are taking a comprehensive approach to workplace benefits in order to reduce financial and physical stress of employees at all levels and demographics,” said Dallas Salisbury, Principal 10 Best judge and president and CEO, Employee Benefit Research Institute.
The 10 organizations, selected by an independent panel of judges as The Principal 10 Best Companies for Employee Financial Security – 2011 are:
Associates for International Research, (AIRINC), Cambridge, Mass.; global mobility consultant
Consolidated Federal Credit Union, Portland, Ore.; credit union
Educational Commission for Foreign Medical Graduates, Philadelphia, Pa.; medical education testing
Greeley and Hansen, Chicago, Ill.; environmental civil engineering
Home Builders Institute, Washington, D.C.; construction training and education organization
Postal Credit Union, Woodbury, Minn.; credit union
RED F Marketing, Charlotte, N.C.; advertising agency
Veridian Credit Union, Waterloo, Iowa; credit union
Water Environment Federation, Alexandria, Va.; technical educational organization
Western National Mutual Insurance Company, Edina, Minn.; property and casualty insurance
Profiles of the winners are available at http://www.principal.com/10best.
"The Principal 10 Best Companies understand the direct connection between well-rounded benefits, a healthier, happier workforce and a better bottom line. That’s what sets them apart from other companies in both the best and worst economic times,” said Luke Vandermillen, vice president at the Principal Financial Group®. “These winners prove that when companies help their best and brightest with their financial dreams, they win too.”
The Principal 10 Best Companies program honors growing companies (five – 1,000 employees) for their commitment to employees’ financial security through outstanding benefits.
According to some of the longest standing judges of The Principal 10 Best program, trends among this year’s winners exemplify three major transformations that have taken place over the last decade:
- A shift from do-it-for-them to do-it-with-them. As benefit programs have shifted from the employer making most decisions to employees facing more choices and personal financial responsibility, The Principal 10 Best Companies continue to share significantly in the cost. They engage employees through collaboration and strong education to help them make the best use of their benefit dollars.
- From cookie cutter to customized. The last decade witnessed a significant trend toward customized benefit programs tailored to specific employee needs and demographics. The Principal 10 Best Companies actively engage employees in helping to shape benefit programs.
- Security is financial and physical. Judges say the biggest change of the decade is the significant expansion of wellness programs. The Principal 10 Best Companies use a holistic approach to financial security with an increase focus on wellness as a way to lower healthcare costs for both the company and the employee.
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