by eyetee | September 15, 2008 12:00 am
Jewelers Mutual Insurance Company is one of 10 companies being recognized for its employee benefit program.
Handed out by Iowa-based Principal Financial Group, the Principal 10 Best Companies for Employee Financial Security honours employers who contribute to employees’ financial futures in an outstanding manner.
According to Principal, Jewelers Mutual was singled out for its ability to maintain and expand benefits at a time when many companies are slashing them as a cost-saving measure.
“Jewelers Mutual is so honoured to receive this award because we are very proud of the benefit package that we offer employees,” said Connie Rank-Smith, Jewelers Mutual’s vice-president of human resources.
“Our 401K match, which is at a stronger level than that of many organizations, combined with the profit sharing—at a time when many companies have simply eliminated both—makes a big difference for our employees.”
Renee Schaaf, vice-president of The Principal, said keeping these programs are vital to maintaining high morale within a company.
“Against the backdrop of a slowing economy, The Principal 10 Best Companies once again demonstrate that an investment in employee financial security is an investment in company financial security,” Schaaf said.
The U.S. national turnover average is 21.9 per cent, compared to the winners’ average annual voluntary turnover rate of 7.7 per cent.
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