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2013 AARP Best Employers

Securian Financial Group

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Industry: Insurance        Location: St. Paul, Minn.   Website: www.securian.com

Winning Years: 2013, 2011, 2009, 2008, 2007, 2005, 2004

Highlights of 2013 Winning Strategies

Securian Financial Group offers preretirement seminars to employees and their spouses. The seminar focuses on health and wellness in retirement and how to stay mentally active and involved with the community during retirement. Other seminars offered that are particularly relevant to mature employees include "Helping a Loved One Transition Smoothly to Senior Housing," "Alzheimer’s Disease: What You Need to Know," "Honoring Choices: Advanced Care Planning," "Understanding Your Retirement Benefits," "Helping or Enabling Our Adult Children: What is the Difference?" "Estate Planning" and "My Parents are Getting Old — What Do I Need to Know?"

Additional Policies and Practices

  • Recruiting: Securian’s IntraSource Services Supervisor hires retired employees in temporary and part-time work assignments.
  • Workplace Culture/Continued Opportunities: Learning and development programs such as in-house classroom training, online training, certification classes and reimbursement for professional membership dues are offered to employees working 20-plus hours per week. Tuition reimbursement is offered to employees working 30-plus hours per week. In a recent 12-month period, 90 percent of employees participated in at least one of the training opportunities with an average of 15 hours spent in training. Long-service anniversaries are celebrated with announcements, parties and awards. Feedback gained from the company’s employee opinion survey resulted in the creation of new corporate training programs, facilitation of noon-time seminars, and targeted training on teamwork, stress management and customer service issues is offered. Employees have opportunities to gain new experiences by working on temporary assignments in other departments, on team projects, and by having access to formal job rotation and mentoring programs. Employees with visual impairment are provided closed-circuit monitors and cameras that magnify font sizes, and sit-to-stand work stations are provided for employees with chronic back problems.
  • Benefits/Health: Employees working 20-plus hours per week receive individual and family medical coverage, individual and family prescription drug coverage, individual and family vision and dental insurance, and short-term disability. Individual and family long-term care insurance is offered to all employees and long-term disability is offered to full-time employees working 40 hours per week. Health benefits for retirees pre-65 and age 65-plus include individual and spouse medical and prescription drug coverage, individual and spouse vision insurance, individual and spouse long-term care insurance, as well as individual and spouse life insurance or other death benefit coverage. New hires age 65-plus are eligible for all of the above benefits upon retirement. Retirees pre-65 are eligible for the individual and spouse medical and prescription drug coverage and individual and spouse vision insurance benefit upon retirement. Flexible spending accounts (FSAs) are available to assist in covering out-of-pocket health care costs. Full- and part-time employees enjoy wellness benefits such as flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity and weight loss programs, and stress management training. Fifty-nine percent of Securian employees utilized at least one of these wellness-related benefits in a recent 12-month period. Employee Assistance Program (EAP) services are available to full- and part-time employees as well as their family members.
  • Benefits/Financial: All employees are offered a 401(k) plan and employees working 20-plus hours per week are offered a defined-benefit plan, as well as stock options, profit sharing or a similar plan. Employees age 50-plus can make catch-up contributions to their plan, and plan participants may choose to invest in lifecycle funds that automatically reallocate assets based on age or proximity to retirement. Employees are offered financial education from staff members, from staff of the financial services firm that administers their plan and from external financial planning experts. Short- and long-term leaves of absence without pay and paid time off are offered to allow for caregiving. The Extended Illness Leave Program provides employees with a paid week off for each year of service with Securian, minus a one-week waiting period. On-site child care, backup care for child care, and referral services to assist with child care and eldercare are dependent care services available to all employees.

  •  Benefits/Alternative Work Arrangements: Alternative work arrangements offered to employees working at least 10 hours per week include job sharing and telecommuting. Those working at least 20 hours per week may use compressed work schedules and flextime is offered to all employees. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
  • Opportunities for Retirees: Securian has 400 retirees and an individual directly responsible for retiree relations. The company stays connected with its retirees by communicating on a regular basis, inviting retirees to organization events, providing retirees with ongoing access to retirement planning workshops and information, and by formally acknowledging employees upon their retirement. Retirees and employees with 25 years of service are members of the North Star 25 Club. Temporary work assignments, consulting/contract work, telecommuting, as well as full- and part-time work are all employment opportunities offered to retirees.
  • Age of Workforce: Thirty percent of Securian employees are age 50-plus. The average tenure of employees age 50-plus is 20 years.

Also of Interest: More AARP Best Employers for Workers Over 50

 

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