Principal® announces new 12-month Apprentice Program

Rhea-AI Summary

Principal Financial Group has launched a 12-month immersive Apprentice Program aimed at recruiting individuals without a four-year degree. The program targets applicants from career readiness programs through community colleges, nonprofits, and organizations supporting military veterans. Apprentices will be hired for roles in operations, customer service, and sales administration at Principal's global headquarters in Des Moines, earning a full salary and benefits. This initiative aligns with Principal's commitment to expanding financial security and adapting to modern workforce trends. The program includes on-the-job training and peer group learning.

Positive

• Introduction of a 12-month immersive Apprentice Program.
• Focus on individuals without a four-year degree increases workforce diversity.
• Targeted recruitment from community colleges, nonprofits, and military-support organizations.
• Apprentices gain full salary, benefits, and on-the-job training.
• Program aligns with modern workforce trends and evolving labor market needs.

Negative

• Initial program scale is to a dozen employees.
• Potentially high costs associated with providing full salaries, benefits, and training.

A Des Moines based recruitment initiative hiring a dozen employees

DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Financial Group^® has created the Principal^® Apprentice Program (the Program), a 12-month immersive program that provides pathways to full-time employment at Principal for individuals without a four-year degree.

The Program focuses on recruiting applicants who have completed career readiness programs through community colleges, nonprofits, and organizations that work with military veterans and their families. Apprentices are being hired into roles in operations, customer service, and sales administration at Principal global headquarters in Des Moines.

“The Apprentice Program is well-aligned with the commitment of Principal to expand access to financial security by addressing community workforce needs,” said Jo Christine Miles, director, Principal^® Foundation and Principal Community Relations.

Apprentices will be placed in entry level positions at Principal earning a full salary and benefits coupled with wrap around support and on-the-job training. The Program provides a cohort experience allowing recruits to learn together as a supported peer group.

“Our hiring efforts have to evolve alongside ever-changing labor markets, shifting business needs, and the future of work,” said Jon Couture, executive vice president and chief human resources officer. “The Apprentice Program allows us to rethink how we recruit, develop, and retain early career talent and align our efforts to modern workforce trends.”

Job seekers can view the program’s job postings and apply here.

About Principal Financial Group^®

Principal Financial Group^® (Nasdaq: PFG) is a global financial company with 20,000 employees¹ passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 62 million customers¹ plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal^® is proud to be recognized as one of the 2023 World’s Most Ethical Companies², a member of the Bloomberg Gender Equality Index, and named as a “Best Places to Work in Money Management³.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

¹ As of March 31, 2024
² Ethisphere, 2023
³ Pensions & Investments, 2023

© 2024 Principal Financial Services, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529549371/en/

Megan Grandgeorge, Grandgeorge.megan@principal.com, 515-878-1146

Source: Principal Financial Group

FAQ

What is the Principal Apprentice Program?

The Principal Apprentice Program is a 12-month immersive initiative aimed at recruiting individuals without a four-year degree for roles in operations, customer service, and sales administration at Principal's global headquarters in Des Moines.

When was the Principal Apprentice Program announced?

The Principal Apprentice Program was announced recently, as per the latest press release.

What roles are available in the Principal Apprentice Program?

Roles available in the Principal Apprentice Program include positions in operations, customer service, and sales administration.

Who is eligible for the Principal Apprentice Program?

The program targets individuals who have completed career readiness programs through community colleges, nonprofits, and organizations working with military veterans and their families.

Where is the Principal Apprentice Program located?

The Principal Apprentice Program is based at Principal Financial Group's global headquarters in Des Moines, Iowa.