Pinnacol Assurance, Colorado’s leading workers’ compensation insurer, has been recognized nationally by AARP as one of America’s “Best Employers for Workers Over 50” for the second consecutive year. Pinnacol is one of just 50 companies nationwide —and two in Colorado — to receive the distinction.
AARP, the nation’s largest non-profit membership organization for people age 50 and over, recognized Pinnacol as an employer that offers progressive workplace policies and benefits to meet the needs of an increasingly older workforce. According to AARP, by 2014, nearly one-third of the total U.S. workforce (32 percent) will be age 50 or older, up from 27 percent in 2005. Nearly 63 percent of Americans ages 55 to 64 are part of the U.S. labor force, compared with about 33 percent in 2000. With 22 percent of its employees over the age of 50, Pinnacol offers a range of benefits that appeal to the mature worker.
Pinnacol provides flexible scheduling options, including compressed workweeks and telecommuting, and a generous paid-time-off bank that can be tapped for any reason, including vacation or sick days. The company also offers a traditional pension plan along with 401(k) and 457 programs that allow older workers to accelerate their retirement savings. Pinnacol pays the major portion of medical, dental and vision insurance premiums for eligible employees, and contributes a portion of the premium cost for dependent coverage as well. To help mature workers update their skills, Pinnacol offers extensive, on-site training.
Pinnacol employees can take also advantage of the company’s on-site wellness center; low-cost Pilates, yoga and kickboxing classes; on-site package-shipping service; progressive volunteer program and other small touches that cater to a work/life balance.
Pinnacol’s emphasis on overall employee satisfaction has been the key to a more motivated and loyal workforce, thereby leading to increased customer satisfaction, the company said. In 2005, employee turnover was just 14 percent, compared to 24 percent turnover among all companies in the Denver/Boulder area that year.
“We are honored that AARP has once again recognized Pinnacol’s commitment to mature workers, whose experience and knowledge are valued by our customers,” said Ken Ross, president and CEO of Pinnacol Assurance. “Pinnacol goes the extra mile to give employees at every stage of life the opportunity to contribute, make a difference, and be happy on the job.”
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