With a notable increase in wellness programs, 10 growing
businesses have earned national recognition for linking employee health
to employee long-term financial security. The winning companies
recognize the critical tie between physical health and future financial
health and have expanded the range of benefits designed to keep
panel of judges selected The
Principal® 10 Best Companies for
Employee Financial Security - 2012, which include:
American National Bank of Texas, Terrell, Texas; bank
Arizona State Credit Union, Phoenix, Ariz.; credit union
Cypress Creek Emergency Medical Services, Spring, Texas; health
Dunmore Corporation, Bristol, Pa.; manufacturing
Flow Science, Inc., Santa Fe, N.M.; software development
M3 Insurance, Madison, Wis.; insurance
nLogic, LLC, Huntsville, Ala.; information
The United States Pharmacopeial Convention, Rockville, Md.;
Vantage West Credit Union, Tucson, Ariz.; credit union
WHR Architects, Inc., Houston, Texas; architecture
"These 10 Best Companies are really doing extraordinary things to
improve the financial security of their employees and serve as inspiring
examples to other growing businesses," said David Wray, president, Plan
Sponsor Council of America. "As an example, when the program began 11
years ago, we saw some companies attempting wellness, but today all
winners offer wellness programs in some meaningful way."
"Winning companies recognize the immense impact wellness can have not
only on health, but on retirement security - healthier employees spend
less on medical care leaving more to save," said Luke Vandermillen, vice
president at the Principal Financial Group®. "Beyond physical
health, these companies offer a number of ways to impact the long-term
financial health of their employees through income protection and
retirement programs with generous employer matches and contributions."
Companies see the results of great benefits with turnover rates well
below others in their industry and significantly lower than the national
average. The Principal 10 Best Companies' average voluntary
turnover rate is 9.8 percent, compared to the national average of 24
percent. This marks the eleventh year The Principal has sponsored the
program, which honors growing companies (five - 1,000 employees) for
their commitment to employee financial security through outstanding
A diverse group, the 2012 winners range from the oldest, a 192-year-old
nonprofit organization, to the youngest company, a 7-year-old software
development company. Winning companies range in size from 29 to 687
Vandermillen added, "A common thread among winners is they all consult
with financial professionals on their programs."
Growing Business Trends
Judges noted top trends among this year's winners:
Expanded wellness programs. All of the winning companies offer
some type of wellness program with many enhancing their strategy to
include incentives, health screenings or assessments. One company
delivers formal wellness results by having employees meet with a
physician and a psychiatrist to discuss health concerns.
Intersection of retirement and wellness. As companies put a
greater emphasis on wellness, they recognize healthier employees spend
less on health care which allows them to contribute more to their
retirement savings. Many winning companies offer health reimbursement
arrangements or health savings accounts to engage employees in their
own health care.
Increasing engagement. Winning companies take a proactive
approach to communicating the value of benefits through one-one
meetings with benefit specialists and financial professionals. One
judge noted every company had a well-thought-out communications
Tailored benefits. One size does not fit all for employees at
winning companies. Winners actively design programs to engage workers
and meet specific needs. Companies report offering younger workers
investing 101 and debt management classes. Another company offers a
retirement readiness program for employees over the age of 55.
Learn more about The Principal 10 Best Companies for Employee
Financial Security at www.principal.com/10best.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1
is a global investment management leader including retirement services,
insurance solutions and asset management. The Principal offers
businesses, individuals and institutional clients a wide range of
financial products and services, including retirement, asset management
and insurance through its diverse family of financial services
companies. Founded in 1879 and a member of the FORTUNE 500®,
the Principal Financial Group has $367.1 billion in assets under
management2 and serves some 18.2 million customers worldwide
from offices in Asia, Australia, Europe, Latin America and the United
States. Principal Financial Group, Inc. is traded on the New York Stock
Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and plan administrative services are provided by
Principal Life Insurance Company a member of the Principal Financial
Group® (The Principal®), Des Moines, IA 50392.
1 "The Principal Financial Group" and "The Principal" are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of June 30, 2012.
Principal Financial Group
Sonja Sorrel, 515-362-2431