AARP Names Minnesota Life and Securian to List of `Best Employers for Workers 50 and Over'.ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn. -- The American Association of Retired Persons American Association of Retired Persons: see AARP. (AARP AARP, a nonprofit, nonpartisan national organization dedicated to "enriching the experience of aging"; membership is open to people age 50 or older. Founded in 1958 by Ethel Percy Andrus as American Association of Retired Persons, AARP now has over 30 million ) announced today that Minnesota Life The Minnesota Life Insurance Company was founded in St. Paul, Minnesota in 1880 as a mutual insurance company. It was originally organized as a mutual because a general distrust of stockholder-owned businesses prevailed at that time and there was a shortage of people willing to buy Insurance Company and its Securian affiliates and subsidiaries were named to AARP's list of 35 "Best Employers for Workers 50 and Over" in the U.S. This is the third employer award for the company this year, having been named for the ninth time to Computerworld's annual list of the "Best Places to Work in IT," and for the third time to The Minneapolis St. Paul Business Journal's list of "Great Places to Work in the Twin Cities." Companies that applied for the AARP list were evaluated on recruiting practices, continuing opportunities for advancement, flexible work schedules, and benefits for current and retired employees. "We focus on finding and retaining good people, regardless of age," said Robert Senkler, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , who has spent his entire 30-year career at the company. "Our employment policies provide opportunities and incentives for our associates to stay with us. We want them to climb the career ladder The Career ladder is a metaphor or buzzword used to denote vertical job promotion. In business and human resources management, the ladder typically describes the progression from entry level positions to higher levels of pay, skill, responsibility, or authority. here, not somewhere else." Minnesota Life's benefits reward longevity with a defined benefit pension with a five-year vesting period, a 401(k) plan with an annual employer contribution based on company performance, and subsidized health insurance for retirees. Minnesota Life also has an open job posting program that encourages employees to look for professional challenges throughout the company. Internal applicants are considered first for job openings; 80 per cent of Minnesota Life's open jobs in 2003 were filled with existing employees. Employee turnover in 2003 was only five per cent. Though Minnesota Life's employment practices have always been geared toward retention, the company is well-positioned to deal with the labor shortage A Labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. This condition is sometimes referred to by Economists as "an insufficiency in the labor force. that is expected as baby boomers See generation X. start to retire. "Older employees will play a crucial role in filling future job demands," said Deborah Russell, AARP's Manager of Economic Security and Work. "The creative practices today's winners have in place can serve as a model for employers seeking to recruit and retain the mature workforce." Other Minnesota Life and Securian employment practices aimed at retaining valued employees -- including mature workers -- are: --Flex time, telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. , job sharing and compressed work schedules --Up to six months job-protected leave to care for a family member --Financial planning assistance --Seminars on managing major life changes --Tuition reimbursement --Fully paid life insurance AARP invited companies to apply for the Best Employer designation by describing their innovative practices toward 50 and over workers in an extensive questionnaire. A consulting firm provided a preliminary rating of the applicants. Then a panel of six outside judges evaluated the applications and their opinions, combined with the consultant's evaluations, led to final ratings. Additional vetting followed to identify the Best Employers. Securian Financial Group, parent company of Minnesota Life, was founded in 1880 and provides financial security for individuals and businesses in the form of insurance, pensions and investments. With $395 billion of life insurance in force and $23 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , the Securian Financial Group serves over six million people through a combined work force of 4,400 people in agencies and offices across the country and its St. Paul headquarters. Visit www.minnesotalife.com and www.securian.com. AARP, a nonprofit, nonpartisan membership organization dedicated to making life better for people age 50 and older, has 640,000 members in Minnesota. AARP provides information and resources; engages in legislative, regulatory, and legal advocacy; assists members in serving their communities; and offers a wide range of unique benefits, special products, and services for its members, including several publications and its web site, www.aarp.org . AARP has offices in all 50 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Puerto Rico, and the U.S. Virgin Islands. NOTE: Download a photo of Robert Senkler at www.minnesotalife.com/news/download_center/download_portr.asp. Visit http://www.minnesotalife.com/career/caropts.asp to learn more about Minnesota Life's employment practices, benefits, and opportunities. |
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