At a time when the most frequently used word on the financial page seems to be “indictment,” it’s good to see news from the world of business that includes more encouraging “I” words, such as “innovation” and “investment.” You’ll find them in the October issue of Working Mother Magazine, with the results of its annual search for the 100 most family-friendly companies.

The list ranges from A (Abbott Laboratories) to W (Wyeth – the pharmaceutical maker, not the painter) and covers enterprises from Rust Belt manufacturing to Sun Belt high-tech. The focus this year, the magazine’s 17th, is on companies that have responded to the tough economic climate not by cutting back but by helping working mothers – and fathers – better weather the downturn by balancing careers and home life.

The most common offerings are on-site childcare and flexible scheduling – MBNA, the only company on the list with a significant Maine presence, is a cited as a leader in this area. Extended family leave, accommodations for school holidays, time off for volunteering in the community – enlightened employers are finding these benefits more conducive to a productive and loyal work force than such boom-time perks as fitness centers and company cars.

While child care centers and flextime arrangements carry their own costs, Steve Sanger, CEO of General Mills and this year’s Working Mother “Family Champion,” asks this question: “You know what’s really expensive?” And answers it: “Turnover. If we’ve invested in recruiting and developing good people, then we want them to stay.”

Most of the companies on the list are giants, and perhaps only an outfit the size of IBM could offer a new mom three years off with a job guaranteed upon return. But even small companies can play – Noel Group, a travel insurer based in Stevens Point, Wis., offers on-site child care and, because employees are on the road a lot, Web cameras so parents can keep an eye on their kids. John M. Noel, founder and CEO, says his turnover is “unbelievably low” and the money spent on keeping his people happy is less than what he’d spend on hiring and training their replacements.

Some of the benefits cited in the survey seem a bit flaky. Aventis, a European-based pharmaceutical maker, reimburses employees up to $25 a month for such “time for themselves” activities as massages and dinner, money that might be better used to lower drug prices.

Some, however, show a keen understanding of what family-friendly truly means. At Minneapolis-based General Mills, Fridays during the too-short summer months have long had a high amount of absenteeism. Rather than try to fight the natural impulse to recreate, Mr. Sanger decided to join in – between Memorial Day and Labor, everybody goes home at noon.