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 (Springfield, MA) - Working Mother magazine today named Massachusetts Mutual Life Insurance Company (MassMutual) a 2007 Working Mother Best Company. Leading a significant and ongoing culture shift, MassMutual is using company-wide benefits and programs to help ensure the retention and advancement of working mothers.
"Every year our winning companies raise the bar for what it means to be an employer of choice for working families," said Carol Evans, CEO and president, Working Mother Media. "MassMutual not only offers essential benefits like flextime and telecommuting—they go above and beyond with a range of best practices and policies to ease the difficulties for working parents and their families. Their supportive culture makes a huge difference to employees who want to be great moms and great workers."
"We are delighted to once again be recognized by Working Mother for providing comprehensive work-life programs for our employees," said Richard Goldstein, president and CEO of MassMutual Benefits Management, Inc. (MMBMI). "MassMutual recognizes that offering a strong work-life balance fosters increased productivity and loyalty. We view such programs as an investment in our people as they pursue personal fulfillment and professional development."
MassMutual provides a number of options to help employees achieve a strong work-life balance, including flexible schedules, on-site and near-site child care facilities, an on-site credit union, convenience store with a full-service pharmacy, dry cleaner, tailor, jewelry and shoe repair, a barbershop and a hair salon. MassMutual also has a strong commitment to employee health, offering state-of-the-art wellness activity centers, employee health service centers that offer such amenities as personal health assessments, on-site physical therapy, and flu vaccinations, as well as an employee assistance program. In addition, the company offers forgivable $5,000 loans on an annual basis to qualified employees for the purchase of their first home.
Added Suzanne Riss, editor-in-chief of Working Mother magazine, "As a working mother myself, I understand how absolutely essential it is for companies to find ways to nurture the personal and professional lives of employees. I commend MassMutual for conceiving and effectively implementing programs and benefits that offer an inspiring paradigm for the rest of corporate America: it is possible to be both family-friendly and financially successful."
Methodology
MassMutual was selected for the 2007 Working Mother 100 Best Companies based on an extensive application of 575 questions. The application included detailed questions about workforce, compensation, child-care and flexibility programs, leave policies and more. It also checked the usage, availability and tracking of programs, as well as the accountability of managers who oversee them. Seven areas were measured and scored: workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs, and company culture. For this year's 100 Best, particular weight was given to flexibility and family-friendly policies.
For more information on the 2007 Working Mother 100 Best Companies and for a complete list of winners, visit www.workingmother.com.
Read MassMutual's profile in the October 2007 edition of Working Mother magazine.
About MassMutual
MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.
About Working Mother
Founded in 1979, Working Mother magazine reaches nearly 3 million readers and is the only national magazine for career mothers. Its 22-year signature initiative, Working Mother 100 Best Companies, is the most important benchmark for work/life practices in corporate America. The publication also releases the annual list of the Best Companies for Multicultural Women in the June issue. Working Mother is published by Working Mother Media (WMM), which also owns the National Association for Female Executives (NAFE), NAFE Magazine, the annual 100 Best Companies WorkLife Congress, as well as the Best Companies for Multicultural Women Conference and regional Town Halls. In 2006, WMM acquired Diversity Best Practices, the preeminent organization for diversity thought leaders.
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