Principal Financial Group 2011 Annual Report Download - page 8

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Surprisingly, though, many employee benefits
providers overlook this burgeoning market.
In fact, among companies with fewer than 100
employees, only about 23 percent sponsor a
401(k) plan1, and more than half don’t offer
dental insurance.2
The SMB market continues to present a big
opportunity. There are more than 6 million
SMBs in the United States, and it’s an
underpenetrated market. At The Principal,
we’ve spent the last 70 years developing
solutions specifically for this market. We’re
a leader in helping growing businesses attract
and retain the talent they need to succeed.
Our Principal Total Retirement SuiteSM,
for instance, provides services for multiple
retirement plans under one roof, which helped
lead to record client retention for Full Service
Accumulation in 2011. And our Specialty
Benefits business—including group dental,
life, disability and vision insurance—
gives employers the flexibility to offer these
valued benefits on an employer-paid or
voluntary basis.
We are champions for growing businesses.
Ten years ago we began The Principal 10 Best
Companies for Employee Financial Security
to officially recognize growing U.S. companies
nationwide that excel in helping their
employees achieve financial well-being. The
100 companies that we’ve recognized over the
past decade have an unwavering commitment
to their employees. Just as we have an
unwavering commitment to helping growing
businesses succeed.
1
growing businesses
B I G C O R P O R AT I O N S may grab the headlines, but the
main drivers of economic growth in the United States
are small and medium-sized businesses (SMBs).
6 | 2011 year in review | PRINCIPAL FINANCIAL GROUP
YEARS
10 THE PRinciPAl
10 bEST cOmPAniES
FOR EmPlOYEE
FinAnciAl SEcuRiTY
1 Retirement Resource, Inc., 2009
2 “A Subtle Shift,” LIMRA, 2009