Principal Financial Group offers great opportunities for individuals who want to live in a small city but work for a large, global company. Each business unit and the central business units (marketing, law, finance, etc.) each have their own cultures and offer different opportunities. In recent years, the company has tried to create a new, more global, culture by creating community work spaces, eliminating seniority-based benefits and PTO banks and "empowering" employees through improved remote work options and flexible schedules. Some leaders, including some leaders in HR, have been challenged by these changes and have been slow to adapt to empowered employees and a flexible work environment. Seniority, especially in leaders, is still recognized as superior to leadership skills and performance. As such, the current environment is challenging and, at times, uncertain.
Principal offers global carreers in a small city, the downtown campus is connected by skywalk and tunnels, senior leaders are mostly promoted from within and have good strategic vision, and each of the business units are leaders in their industries.
Many leaders are leaders because of years of service, not performance or leadership skills. Compensation is low in the local market.