DES MOINES, Iowa--(BUSINESS WIRE)--Principal today announced updates to the Principal Benefit Design ToolSM to give business owners the knowledge needed to help build competitive benefits packages. From working with more than 140,0001 U.S. business owners, we know benefits packages are key to recruiting and retaining talent – especially in the tight labor market. Now, employers will be able to find out what the competition is doing.
The updated Principal Benefit Design ToolSM makes it easy – and free – for business owners to compare what their peers offer for employee benefits through new enhancements. The personalized reporting shows how benefits – like dental or life insurance – stack up against peers based on size, industry and region.
“Principal understands business owners’ needs. And as employers, one of the most common reasons they offer benefits – such as group disability insurance or a retirement plan – is to find good people and keep them,” said Amy Friedrich, president of U.S. Insurance Solutions at Principal. “The Principal Benefit Design ToolSM makes comparing benefits packages easy so business owners can focus on what they love – growing their business – and not spend a lot of time on administrative work.”
Online tool enhancements include retirement plan benefits
The interactive resource, available on principal.com, now includes comparisons for retirement plan benefits – as well as enhanced reporting for group dental, short-term and long-term disability and life insurance.
“This resource, tailored to employers with less than 100 employees, is one of the many ways we’re working to help businesses,” said Friedrich. “Especially for small employers, benefit comparison information isn’t readily available. And the smaller the organization, the less likely they are to have staff focused on benefits. That’s why we’ve made it easy to get information they need.”
For more information about the Principal Benefit Design ToolSM, please visit: https://www.principal.com/employers/compare-your-benefits.
Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.
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1 As of December 31, 2018.