The Principal Financial Group, in its annual ranking of the 10 best American companies for employee financial security, has seen a marked increase in wellness initiatives.
An independent panel of judges selected firms they saw as leaders in worker long-term fiscal stability, and the winners ranged from a Maryland nonprofit to a pair of Arizona credit unions. What all 10 had in common was employee wellness programs.
“When the program began 11 years ago, we saw some companies attempting wellness,” says David Wray, president of the Plan Sponsor Council of America and one of the seven judges, “but today all winners offer wellness programs in some meaningful way.”
Apart from any direct medical benefits, companies reaped rewards for their efforts in a variety of ways. For example, with comprehensive engagement and communications that include wellness programs, Principal’s top 10 saw an average voluntary turnover rate of 9.8%, compared to a national average of 24%. And those of sound body also had sound portfolios.
“Healthier employees spend less on medical care, leaving to more to save,” says Luke Vandermillen, Principal vice president. “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.” August 23, 2012 ebn.benefitnews.com
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