.png){kind=small}
%20(1).png){kind=small}
.svg)
Industry Benefits Summary
Employee Benefits Summary for the Waste Management Industry
How do your benefits compare to other waste management companies?
6
6
The waste management sub-sector focuses on the collection, treatment, and disposal of waste materials; electrical, hazardous, or recyclable, etc.; as well as the local hauling of these materials. Occupations within this industry require comprehensive training on the handling of various types of waste, especially hazardous materials removal workers.
Considering the impact waste can have on our environment, highly skilled and educated employees are an absolute must. Companies can get ahead of the competition by providing candidates with extensive benefits; the risk associated with a job in waste management can easily be tempered with excellent waste management employee benefits. For example, a higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses. Additionally, quality short and long term disability plans are important. There's a higher percentage of males in the waste management industry, who tend to place importance on access to employer sponsored healthcare and a 401K match.
There are about 25,000 waste management facilities nationwide, employing 408,000 professionals. On average, each business is on the smaller side, with 16 staff members. This is a male-dominated industry, with only 16% of employees identifying as female, and the median employee age is 47 years old.
21% of waste management employers offer short-term disability coverage, and 14% offer long-term disability insurance. The national average is 42% and 34%, respectively.
30% offer access to a life insurance plan. Comparatively, the national average is 56%.
As a whole, the waste management industry has a lot of improvements it needs to make when providing comprehensive employee benefits packages. This industry stands well below the national standard for every single benefit they offer, and in order for employers to attract and retain, top-quality talent, they need to really amp up their waste management employee benefit plans. Once these changes are made, businesses in this industry will have what it takes to stand out as a differentiator from their competitors, ensuring the best talent comes onto their team.
A Growing Building Management and Maintenance Service Industry Leads to High Demand of Quality Talent
The building management and maintenance service industry is growing at a rapid pace. Building management employees are varied and vast, representing a lot of separate industries under one umbrella service. There are plumbers, electricians, repair workers, foremen, and heating and cooling professionals all working together to upkeep, restore, and improve every aspect of large residential and commercial buildings.
With all these employees working together for the same cause, every business owner needs to develop the perfect employee benefits package to attract the top talent. The best building services employee benefits include health, dental, and vision insurance, as well as life insurance, disability coverage, and paid time off.
As of January 2021, there are 261,179 building management and maintenance companies in the United States, employing more than 3 million individuals. As a predominantly male industry, each company averages 12 employees, with the median age of each employee being 42.
Only 21% of building management and maintenance service companies offer access to short-term disability plans, which is half of the national average of 42%. Additionally, 14% provide long-term disability insurance, with the national average being 34%.
Less than one third of building management and maintenance service companies offer life insurance, lower than the national average of 56%.
The building management and maintenance services industry falls below the national average for employee benefits as a whole. A comprehensive employee benefits package is key to not only attracting the right employees for your business’s needs, but to ensure they stay with you for as long as possible. It is incredibly important for all building management companies to provide an all-inclusive, competitive employee benefits package as a way to make their employees feel valued and appreciated by their employers.
The warehousing and storage industry provides facilities for the warehousing and storage of general merchandise, refrigerated goods, and various other products. This industry plays a major role in the logistics of businesses throughout the world; though they do not sell the goods they hold, they are exclusively responsible for keeping them secure and may provide additional distribution services.
Skilled workers are essential in this sector. Industrial truck and tractor operators are required to possess certain certifications while transportation, storage, and distribution managers must know the ins and outs of how to handle, store, and move the products they’re in charge of. Only businesses offering excellent warehouse employee benefits will be considered by top candidates.
For example, in the warehousing and storage industry, a higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses. Becuase of this, quality short and long term disability plans are important. With a higher percentage of males in the industry, this demographic places importance on access to employer sponsored healthcare and 401K match. Additionally, wellness programs are playing an increasing importance for the industry. Most employees now have access to smartphones and take an active role in offerings, which differs from plans from 5-10 years ago.
There are about 17,000 warehousing and storage facilities nationwide, employing 914,000 professionals. On average, each business is mid-sized with 54 staff members. This is a male-dominated industry, with only 34% of employees identifying as female, and the median employee age is 37 years old.
50% of warehousing and storage employers offer short-term disability coverage, and 29% offer long-term disability insurance. The national average is 42% and 34%, respectively.
73% offer access to a life insurance plan. Comparatively, the national average is 56%.
All in all, the warehousing and storage industry provides their employees with well-thought-out and comprehensive employee benefits packages, as per the national industry standard rates. However, employers in this industry can still make some improvements, such as providing more long-term disability and paid family leave options to better meet their employee’s needs.
The utility sector deals with establishments that provide utility services such as electric power, natural gas, steam supply, water supply, and sewage removal. The activities that each of these services are associated with depends on the utility itself. For example, sewage removal involves the collection, treatment, and disposal of waste through a sewer system while natural gas focuses primarily on distribution.
The main occupations within the utility industry are technically-based; electrical engineers, powerline installers, and control and valve repairers all require a level of training and education that is uncommon in most people. Businesses that want to stay ahead of the competition will need to provide an extensive benefits package to meet their employee’s needs. For example, a higher amount of physical labor in this industry can result in an increased number of workers comp claims and higher overall medical expenses, making access to quality short and long term disability plans important. Additionally, there’s a higher percentage of males in the industry who place importance on access to employer sponsored healthcare and a 401K match.
There are about 19,000 utility facilities nationwide, employing 645,000 professionals. On average, each business is mid-sized with 34 staff members. This is a male-dominated industry, with only 21% of employees identifying as female, and the median employee age is 45 years old.
59% of utility employers offer short-term disability coverage, and 91% offer long-term disability insurance. The national average is 42% and 34%, respectively.
96% offer access to a life insurance plan. Comparatively, the national average is 56%.
The Utilities industry does extremely well in providing their employees comprehensive benefits plans, compared to the national industry standard. There is one metric, offering consolidated leave plans, that has some room for improvement, but as a whole, employers in this industry provide benefits that meet all of their employee’s basic needs.
.jpeg){kind=spacer}
The transportation equipment manufacturing industry works with the manufacture and production of the various equipment needed for transporting people and goods. This includes the manufacturing of motor vehicles and parts, aircraft, ships and boats, and railroad rolling stock. As a whole, the transportation equipment manufacturing industry is growing at a steady rate, and a strong market like this needs to present an all-encompassing benefits program to retain talent.
As the industry is broad and encompasses many facets of manufacturing, the benefits plan should be customizable to ensure different working shifts and employee needs. A higher amount of physical labor in this industry can result in an increased number of workers comp claims and higher overall medical expenses, making quality short and long term disability plans important.
There are about 10,000 transportation equipment manufacturing organizations nationwide, employing over 1.1 million professionals. On average, each business is on the larger side, with only 117 staff members. This is a male-dominated industry, with only 22% of employees identifying as female, and the average employee age is 44 years old.
65% of these employers offer short-term disability coverage, and 49% offer long-term disability insurance. The national average is 42% and 34%, respectively.
81% offer access to a life insurance plan. Comparatively, the national average is 56%.
All in all, the transportation equipment manufacturing industry stands above the national industry standard of providing employees with all-inclusive employee benefits packages. However, there are still some improvements that can be made, such as providing more options for paid family leave and retirement savings plans to meet all their employee’s needs. Once these changes are made, employers will realize that comprehensive transportation equipment manufacturing employee benefits are key to creating a healthy, productive work environment. And as a result, employers will experience decreased costs, higher efficiency levels, and stronger teams.
Before the COVID-19 pandemic, the travel agency services industry was booming. But since quarantine has required everyone to stay home, the global travel services industry is expected to decrease 20% within the next year. However, not all is lost, as once the COVID-19 pandemic starts getting under control, experts believe travelers will be back to their old ways sooner rather than later.
With all this current uncertainty, employers need to provide some consistency for their employees by offering comprehensive benefits packages. This includes providing medical, vision, and dental insurance, as well as disability coverage, life insurance, and paid time vacation.
Travel agencies tend to be on the smaller side. There are about 23,000 travel agencies in the United States, employing over 213,000 individuals. A little over half - 58.9% of all travel professionals are female, and the average age of each employee is only 9.4 per organization.
Travel agencies only offer access to short-term disability plans 21% of the time. This is half of the national average of 42%. Additionally, a paltry 14% provides long-term disability insurance, when the national average is 34%.
30% of travel agency companies offer life insurance when the national average is 56%.
When it comes to providing benefits for their employees, the travel agent services industry falls well below the national average. There are a lot more that employers can do to bulk up their benefits packages. When they add more paid time off, medical insurance coverage, and disability plans, an employer will invest in their employers and reap the benefits of increased productivity, enhanced trust, and save money in the long run.
The telecommunications industry is part of the larger Information subsector, and companies in this industry primarily produce and transmit data in the form of sound, text, voice, and video. This includes businesses that provide cable, television, media, Internet, and VoIP. Anything that requires communicating from point A to point B is part of the telecommunications industry.
The trajectory for this industry is incredibly positive in the upcoming years. To sustain this expected growth, there is a need to attract quality and experienced telecommunication professionals, and the best way to do this is via a comprehensive benefits package.
In this industry, employees are typically skilled workers, and competitive benefit packages can help to attract talented employees. This means that student loan repayment, flexible work schedules are attractive and more creative to entice employees. As a result, employers will experience lower turnover rates, and lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis.
There are around 61,000 telecommunication companies across the nation, employing over 1.07 million individuals. Businesses in this industry are on the smaller side, with an average of 18 employees each. 41% of their employees identify as female, and the median age of each worker is 42 years old.
75% of telecommunications businesses offer short-term disability insurance, and 72% provide long-term disability insurance. Comparatively, the national average is 42% and 34%, respectively.
79% of these businesses offer life insurance coverage. The national average is 56%.
As a whole, the telecommunications field offers competitive benefits, with most of their offerings being well above the general industry standard nationwide. There is only one benefit, retirement offerings, that companies in this industry can increase to be aligned with other industries.
Taxis, buses, and subway transit fall under the overarching umbrella of the passenger vehicle drivers industry. With the ultimate goal of transporting people from place to place, drivers are expected to know the layout of the area they are working in as well as possess any special certifications or licenses for the vehicle they’re operating.
Employment rates in this industry are expected to rise a whopping 11% in the next eight years. Increased competition will force businesses to get creative in order to bring the best candidates to their door. Generally speaking, transit employee benefits packages include access to health, vision, and dental insurance, paid time off, life insurance plans, disability coverage, and retirement savings.
There are about 35,000 taxi, buses, and subway tour organizations nationwide, employing 636,000 professionals. On average, each business is small, with 18 staff members. This is a male-dominated industry, with only 24% of employees identifying as female, and the median employee age is 44 years old.
50% of transportation employers offer short-term disability coverage, and 29% offer long-term disability insurance. The national average is 42% and 34%, respectively.
73% offer access to a life insurance plan. Comparatively, the national average is 56%.
Overall, the taxis, buses, and subway transit industry provides their employees with comprehensive employee benefits packages, as per the national industry standard.
A Large Industry Requires Employee Benefits to Keep Up With Demand for Quality Talent
Staffing agencies operate within the business services industry and work with organizations of all shapes and sizes to find employees. These agencies help to fill contract, temporary, and full-time positions and are part of a booming industry that has experienced year-over-year growth.
Even though staffing agencies work to help others build their businesses, staffing agency owners need to look inwards and make sure they take care of their employees with the same level of diligence and respect they use with others. This includes providing staffing agency employee benefits such as medical, dental, and vision insurance, disability insurance, life insurance, and paid vacation time.
Staffing agencies are quite big compared to other businesses. More than 53,000 agencies are employ over 6.5 million people nationwide. On average, there are 122 employees per agency, with 59% identifying as female. The median age of each employee is 42 years old.
Not many staffing agencies offer disability insurance. Only 21% of staffing agencies offer short-term disability plans, when the national average is 42%. Just 14% provide long-term disability insurance, with the national average being 34%.
36% of staffing agencies offer life insurance, lower than the national average of 56%.
As a whole, staffing agencies fall short of providing comprehensive employee benefits, compared to the nationwide standard. Offering a quality package of employee benefits will attract talent while providing consistency for your business, saving money in the long run. There is a need for staffing agencies to choose the right benefits for their employees to promote trust, productivity, and value in the workplace.
.svg)
.svg)
.svg)
.svg)