Ten businesses recognized today by the Principal Financial Group® as this year’s 10 Best Companies for Employee Financial Security are investing serious time and money into their employees’ financial futures, but their employees are not the only ones reaping the benefits. The winning companies are able to better attract and retain top talent; 70 percent of this year’s winners report voluntary turnover rates of 5 percent of lower, with two reporting rates of just 1 percent; much lower than the national average of 11 percent1. Executives at the winning firms assert that their benefit strategies also are critical to maintaining high levels of employee engagement, motivation, and productivity.

“The most forward-thinking companies have made the connection between their employee’s financial security and the success of their business,” said Luke Vandermillen, vice president at The Principal®. “They understand that when employees are financially secure they create an environment where employees can do their best work, which leads to gains in employee retention, productivity, safety, customer service and profitability.”

This marks the 14th year The Principal has sponsored the program, which honors growing companies (five – 1,000 employees) for their commitment to employee financial security through outstanding employee benefits. An independent panel of judges selected The Principal® 10 Best Companies for Employee Financial Security — 2015 in a blind judging process to identify companies with an outstanding commitment to their employees’ financial security.

Judges noted top trends among this year's winners:

  • They make saving for retirement easier. A majority of 10 Best companies automatically enroll eligible employees in their 401(k) plans, and half of those plans have auto-escalation features to encourage their workforce to increase their contributions as they get more established in their careers and closer to retirement.
  • They empower employees through financial education. The 2015 10 Best companies all provide employees extensive financial planning resources, such as group seminars, online tutorials, telephone help lines and educational materials.
  • They acknowledge the importance of work-life balance. Nine of 10 winners offer flex-time, half support telecommuting and 80 percent provide paid paternity leave.

And the winners are.....

The Principal 10 Best 2015 winners are certainly a diverse group, working in industries from technology to construction and nonprofit. The smallest winning company has only 42 employees, whereas the largest has a workforce of 750. When it comes to company longevity, the winners run the gamut as well; the youngest company was founded six years ago and the oldest is 92 years old.

The Principal 10 Best Companies for Employee Financial Security—2015:

  • Alterman Group, Inc., San Antonio, Texas
  • Atrion Inc., Warwick R.I.
  • Customized Energy Solutions, Philadelphia, Penn.
  • Fishbowl, Orem, Utah
  • Hudson Valley Federal Credit Union, Poughkeepsie, N.Y.
  • International Foundation of Employee Benefits Plan, Brookfield, Wis.
  • MSU Federal Credit Union, East Lansing, Mich.
  • MZA Associates Corporation, Albuquerque, N.M.
  • USD Group, Houston, Texas
  • WE Insure Group, Jacksonville, Fla.

2015 Honorable Mentions:

  • KITEWIRE Inc., Arlington, Va.
  • Letherman Tool Group Inc., Portland, Ore.
  • Van Meter, Cedar Rapids, Iowa

Learn more about the winning companies at www.principal.com/10best.

About the Principal Financial Group
The Principal Financial Group® (The Principal®)2 is a global investment management leader offering 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 $539.9 billion in assets under management3 and serves some 20.1 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.

1 United States Department of Labor: Bureau of Labor Statistics. National Compensation Study: Employee Benefits in United States, March 2015

2 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

3 As of June 30, 2015.