Employers who take action to enhance the financial security of their workers come in all shapes and sizes. Once a year, The Principal ferrets the landscape for such companies and shines a light on 10 of them.
The top 10 are chosen by an independent panel of judges who review the ways in which candidates for the 10 best support their employees’ financial security. Candidates can’t employ more than 1,000 people. This year, “The Principal’s 10 Best Companies for Employee Financial Security” list includes one with 14 employees and another with 543. The winners include a realty firm, a trade group, manufacturers, an insurance broker and a women-owned tech company.
The Principal said the investments made by this year’s group have paid off demonstrably in reduced voluntary turnover. The group’s average rate was less than 7 percent; the national average is 13 percent, according to the Society for Human Resource Management.
The 10 are:
- CoBiz Financial, Denver, Colo.; financial services
- Gibson, South Bend, Ind.; insurance/benefits
- Haviland Enterprises, Inc., Grand Rapids, Mich.; manufacturing
- Keller Williams Realty Inc., Austin, Texas; real estate
- National Pork Board, Clive, Iowa; agriculture/ trade association
- Ophthalmic Mutual Insurance Company (OMIC), San Francisco, Calif.; insurance/benefits
- Quick Left, Inc., Boulder, Colo.; technology
- Stellar Solutions, Inc., Palo Alto, Calif.; aerospace/defense
- Strategic Communications, Louisville, Ky.; technology
- The Sartell Group, Inc., Minneapolis, Minn.; information technology
The Principal said the winners share the following attributes:
Making saving for retirement easier by offering such benefits as automatic enrollment for eligible employees in their 401(k) plans and auto-escalation features to encourage their workforce to increase their contributions over time.