This excerpt taken from the PNC 8-K filed Mar 23, 2007.
Investing in Our Employees and Communities
Our investment in growth goes beyond our businesses. It should. We rely on our employees and our communities for our success, so we see their development as an investment in our own.
We offer our employees and their families a wide range of top-tier benefits programs. These include the training and technology to help them serve customers, assistance with work-life planning, health care and educational assistance. We offer both a pension and a defined contribution savings plan, which is ranked by an independent benefits consulting firm among the top 10 percent of such plans when compared to those of other large companies that offer both. In addition, PNC has five times earned a place on Working Mother magazines list of the 100 Best Companies for Working Mothers because of its supportive culture for working parents.
The One PNC initiative improved revenue and lowered some expenses in 2006. Beginning in 2005, more than 2,000 employees contributed ideas to the initiative, making PNC a stronger, more efficient and more competitive company. By the end of 2006, 2,400 ideas had been completed or implemented, and PNC was close to meeting its goal of $100 million per quarter in overall benefit. The One PNC program is expected to wrap up in June of 2007, but its lessons will continue as part of a new continuous improvement program. Ideas already are flowing from employees such as Jody Leidigh (left) and Linda Marsico (right).