Measuring tape (Image: Alexander Bedrin/Thinkstock)



An arm of Principal Financial Group Inc. has come up with a tool for measuring the richness of an employee benefits package.

The Des Moines, Iowa-based company is offering the Principal Benefit Design Tool, based on statistics the company has collected from 140,000 benefits clients.

(Related: Small Business Owners Notice Human Resources)

The tool, which has been posted on Principal’s website, can show how a small employer’s benefits, such as retirement benefits, life insurance, disability insurance or dental insurance, compare with the benefits offered by other employers that could be described as peers. Principal identifies an employer’s peers based on the employer’s size, industry and region.

Principal has designed the tool to fit employers that have fewer than 100 employees.

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