Principal CEO: Corporate Giving Drives Community impact, Talent Acquisition

Updated June 03, 2025
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Deanna Strable, CEO of Principal Financial Group, emphasizes‍ that corporate giving ⁢is integral to the company’s ‍mission and⁣ success. Speaking at the Principal Charity Classic, Strable highlighted the company’s dedication to community investment and it’s positive impact on talent acquisition and retention.

The 19th annual Principal Charity Classic, a PGA ⁣Tour Champions event held⁤ at the Wakonda Club, raised $8.6 ⁣million⁢ in the past year, bringing the total to $62⁢ million since Principal became the title⁣ sponsor in 2007. The event supports local children’s charities, including Blank Children’s Hospital and ⁣United Way of Central ‍Iowa, and generates an estimated $26 million in annual economic ‍impact for⁣ Des Moines.

Strable noted that the Principal Charity ⁣Classic recently received the 2024 PGA Tour Champions President’s award and the 2025 iTIP Sustainability ⁤Award, ⁤underscoring its commitment to excellence and social⁤ responsibility. The event exemplifies how ‍the community can unite to support those in need, showcasing the best of Des Moines.

Principal’s commitment‍ extends beyond financial contributions. The company’s Legacy Project, launched ⁤last year, ⁤helps students become workplace ready. With 100 participants in 2024, the program is expanding to Cedar Rapids and Pella, with an expected 200 participants this year. Strable hopes to expand ⁤the program statewide,fostering a skilled workforce and business success in Iowa.

“Giving back in our communities is core to what we do,”‍ Strable ⁤said.⁣ “We invest in everywhere that we⁤ do business, as that really is, for one, crucial for that community, but also it allows us to attract and retain key⁢ talent.”

Strable ‍also addressed the ⁢increasing needs of nonprofits,citing rising demands on food banks and ⁢challenges faced by ‍the working ⁢population. She stressed the importance of business and community leaders collaborating ‍to find ⁤lasting solutions. Strable suggested nonprofits should unite to tackle overarching issues strategically, maximizing their collective impact.

Principal’s charitable ‍efforts considerably contribute⁢ to its ability to attract and retain talent. Strable noted that younger generations seek⁣ employers who offer opportunities⁣ to make an impact. By facilitating community involvement and⁤ allowing nonprofits to use their facilities, Principal fosters employee engagement⁢ and strengthens its position as an employer of choice.

For the current fiscal year, Principal’s 20,000 employees have volunteered 120,000 hours toward a goal of 145,000. The company matches employee donations ‍and⁢ volunteer hours to amplify their community impact. ⁣Strable⁣ emphasized that this combination of financial giving and⁤ volunteering fosters teamwork and ⁤benefits both the institution ‍and⁤ the community.

What’s next

Looking ahead, Principal plans to continue expanding⁤ its⁤ support for children’s charities and workplace readiness programs, reinforcing its commitment to the Des Moines community and the state of Iowa.