Cutting Expenses – But Not Benefits

Principal Financial Group has released a list of the 10 Best Companies for Employee Financial Security.  Winners are comprised of growing companies and organizations that demonstrate commitment to employees’ financial well-being through their benefits, financial aid and health and wellness programs.  At a time when many companies are shrinking employee benefits to cut costs, these organizations have added to or enhanced their benefits packages.  The result?  Turnover rates that fall below the national average.  Increased productivity among staff.  The attraction and retention of qualified applicants.  “We were able to identify cost-cutting measures that did not involve our benefits, and we were able to continue to succeed from a business perspective, says Karen Rhodes, HR Director of Red River Credit Union (one of this year’s winners.)  “Our commitment to our employees did not have to be mitigated in any way. They’re responsible for our success, so we feel committed to them mutually.”

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