Best Places to Work in IT 2010 Employer Profile

No. 49

Principal Financial Group Inc.

Des Moines [North Central]

Why you want to work there

For IT employees at this financial services provider, working additional hours or alternate work schedules, or being on-call to solve problems or answer questions, goes with the territory. In return for their flexibility, the Des Moines-based company offers technology and benefits programs so employees can achieve better work/life balance. Programs include flexible work arrangements/flexible hours, so employees can start or end the workday earlier or later than usual; flexible lunch hours, so employees can extend their lunchtimes to attend appointments, run errands or exercise; and make-up time, where employees take time off during a normal workday and make it up during the same workweek. The company also offers telecommuting, for all or part of a day or week as part of their regular work schedule; compressed workweeks, through which employees may work 40 hours in fewer than five days; and job sharing, under which two employees share one position, alternating work days/hours. The company also offers part-time schedules for employees who want to reduce their work schedules. Employees also have access to traditional leave programs and a wide variety of time-off programs, including personal time off, bought time off, volunteer time off, working caregiver leave and adoption leave. Cash is king: Through PrinPay, all full- and part-time nonexecutive employees are eligible for awards ranging from 4% to 30% of salary. Leaders can nominate employees for discretionary retention awards, which recognize extraordinary contributions/special achievements and are designed to reward strong performers.

Rank by company size:
Large, No. 29

Employee Statistics

Total U.S.-based employees: 11,504

Total U.S.-based IT employees: 1,915

IT employee turnover in 2009: 8%

IT promotions in 2009: 1%


Training days offered per IT employee in 2009: 2

Training budget per IT employee in 2009: $340

Women in IT

Total percentage of women within IT: 45%

Percentage of IT managers who are women: 44%

Percentage of IT staffers (non-managers) who are women: 45%

Minorities in IT

Total percentage of minorities within IT: 8%

Percentage of IT managers who are minorities: 5%

Percentage of IT staffers (non-managers) who are minorities: 9%