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.

The Staffing Agency Industry Employment Summary

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.

Building Staffing Agencies Insurance Benefits Comparison

What percent of staffing agencies offer medical insurance?

• Half of all staffing agencies offer medical benefits to their employees. This is below the national average of 69%.
• The average flat monthly employer premium for family coverage is $955, whereas the national average is $1,121.
• The average flat monthly employer premium for single coverage is $406 for individual coverage, slightly lower than the national average of $458.

What percent of staffing agencies offer short and/or long-term disability insurance?

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%.

What percent of staffing agencies offer life insurance?

36% of staffing agencies offer life insurance, lower than the national average of 56%.

Do staffing agencies provide access to paid family leave?

• 8% of staffing agencies provide access to paid family leave, when the national average is 20%.
• 79% of staffing agencies provide unpaid family leave, compared to the national average of 88%.
• 36% of staffing agencies offer consolidated leave plans, with the national average being 44%.

Summary

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.

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As a subsector of the retail trade industry, the sporting goods, hobby, musical instrument, and bookstores industry specializes in the sale of sporting equipment and a wide variety of other leisure activities and products.

Customers looking to learn a new instrument, start up a new hobby, or throw themselves into a new sport will need access to expertise as much as physical products. As a result, employees will need extensive background knowledge and experience with the items they're selling. The need for these qualified individuals is increasing; only by offering excellent benefits can businesses pull the best candidates to their door.

Higher employee turnover rates and percentage of part time workers in these types of stores can make benefit offerings and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working. Disability plans are important as there can be a physical component to the role, from moving heavy items to stocking shelves. To create a custom benefit package, every employer needs to know their specific group of employees.

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The Sporting Goods, Hobby, Musical Instrument, and Book Stores Industry Employment Summary

There are around 45,000 sporting goods, hobby, musical instrument, and book stores nationwide, employing over 535,000 professionals. On average, each business is on the smaller side, with only 12 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.

The Sporting Goods, Hobby, Musical Instrument, and Book Stores Industry Insurance Benefits Comparison

What percent of these employers offer medical insurance?

• 53% of these dealers companies offer medical benefits to their employees. This is much lower than the national average of 69%.
• These businesses provide an average monthly employer premium of $948 for family coverage. This is also below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $424 for individual coverage. This is below the national average of $458.

What percentage of these employers offer short and/or long-term disability insurance?

35% of employers offer short-term disability insurance, and 12% provide a long-term disability option. The national average is 42% and 34%, respectively.

What percent of these employers offer life insurance?

42% of these companies offer life insurance, which is again below the national average of 56%.

Do these employers provide access to paid family leave?

• 17% of these companies provide access to paid family leave compared to the national average of 20%.
• Unpaid family leave is offered to 90% of these companies, compared to the slightly lower national average of 88%.
• Consolidated leave plans are used in 39% of these companies, compared to the national average of 44%.

Summary

Generally speaking, the sporting goods, hobby, musical instrument, and book stores industry must make some improvements to their employee benefits offerings in order to become in-line with the national industry standard. In order to meet all of the sporting goods, hobby, musical instrument, and book store employee benefits needs, employers can amp up access to medical insurance, increase the number of paid vacation time given, and provide more retirement savings options.Once these changes are made, the employers will start to notice that offering comprehensive benefits packages is a key factor in standing out as a differentiator from their competition, while attracting top-quality talent and retaining them for years to come.

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The small retail and digital consumer stores industry deals with the sale of consumer merchandise by either small businesses, online markets, or a combination of the two. Goods can vary from clothing and personal accessories to technology and artisan products.

As of late, there has been an extreme uptick in online shopping, causing an unprecedented jump in digital sales. This shift will undoubtedly continue, forcing businesses to seek out talented web designers, marketers, and salespersons to run these digital markets.

Higher employee turnover rates and percentage of part time workers in small retail and digital consumer stores can make benefit offering and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working. Disability plans are important as there can be a physical component to the role, from moving heavy items to stocking shelves. To create a custom benefit package, every employer needs to know your specific group of employees.

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The Small Retail and Digital Consumer Stores Industry Employment Summary

There are about 187,000 small retail and digital consumer stores nationwide, employing over 1.5 million professionals. On average, each business is quite small, with only 8 staff members each. This industry is almost evenly split between male and female employees, and the average employee age is 38 years old.

The Small Retail and Digital Consumer Stores Industry Insurance Benefits Comparison

What percentage of these employers offer medical insurance?

• 53% offer access to medical insurance. This is well under the national average of 69%.
• These businesses provide an average monthly employer premium of $948 for family coverage. This is below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $424 for individual coverage. This is below the national average of $458.

What percentage of these employers offer short and/or long-term disability insurance?

35% of these employers offer short-term disability coverage, and 12% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of these employers offer life insurance?

42% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do these employers provide access to paid family leave?

• 17% provide access to paid family leave. The national average is 20%.
• 90% provide access to unpaid family leave. The national average is 88%.
• 39% offer consolidated leave plans. The national average is 44%.

Summary

All in all, the small retail and digital consumer stores industry is well below the national industry standard of providing inclusive benefits packages to their employees. Employers in this industry have many opportunities to increase their benefits offerings, such as providing more retirement savings options, improving disability coverage, adding in more paid vacation days, and offering more inclusive access to paid family leave.

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The rental and leasing sub-sector focuses on providing a variety of tangible goods; vehicles, computers, industrial machinery, etc.; to customers in exchange for a recurring rental or lease payment. This industry is split between two types of establishments: those that deal with consumer goods, and those that deal with machinery and equipment used in business operations.

Rental and leasing employees must have an intimate knowledge of financial policies depending on the establishment they work for. Learning the ins and outs of rental and leasing legalities takes time and training; any businesses looking to bring the best candidates on board will need to sweeten the pot with extensive employee benefits packages.

Higher employee turnover rates and percentage of part time workers can make benefit offering and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working. To create a custom benefit package, an employer needs to know their specific group of employees.

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The Rental and Leasing Services Industry Employment Summary

There are around 55,000 rental and leasing services nationwide, employing 503,000 professionals. On average, each business is on the smaller side, with 9 staff members each. This industry is male-dominated, with only 32% of employees identifying as female, and the average employee age is 42 years old.

The Rental and Leasing Services Industry Insurance Benefits Comparison

What percentage of rental and leasing employers offer medical insurance?

• 69% offer access to medical insurance. This meets the national average.
• These businesses provide an average monthly employer premium of $1,134 for family coverage. This is in-line with the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $484 for individual coverage. This is above the national average of $458.

What percentage of rental and leasing employers offer short and/or long-term disability insurance?

40% of these employers offer short-term disability coverage, and 33% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of rental and leasing employers offer life insurance?

52% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do rental and leasing employers provide access to paid family leave?

• 13% provide access to paid family leave. The national average is 20%.
• 93% provide access to unpaid family leave. The national average is 88%.
• 30% offer consolidated leave plans. The national average is 44%.

Summary

As a whole, the rental and leasing services industry must make some improvements if they are to meet the national industry standard for providing comprehensive employee benefits packages. Employers in this industry have the opportunity to increase their benefits offerings, including providing more retirement savings options, improving disability coverage, and providing more inclusive access to paid family leave.

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Restaurants and bars are encompassed by the Food Services and Drinking Places industry. Their focus is on preparing meals, snacks, and beverages for customers to consume immediately, either on- or off-premises. Due to the flexible nature of this definition, establishments vary from full-service restaurants to special food services such as caterers.

Since both bars and restaurants are only ever as good as their staff, companies looking to onboard the best talent available will need to offer comprehensive benefits packages.

Higher employee turnover rates and percentage of part time workers can make benefit offering and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working. Disability plans are important as there can be a physical component to the role, from moving heavy items to being near cooking equipment. To create a custom benefit package, every employer needs to know their specific group of employees.

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The Restaurant and Bars Industry Employment Summary

There are about 658,000 restaurant and bar establishments nationwide, employing over 11 million professionals. On average, each business is small, with 18 staff members each. This industry is almost evenly split between male and female employees, and the average employee age is 29 years old.

The Restaurants and Bars Industry Insurance Benefits Comparison

What percentage of restaurant and bar employers offer medical insurance?

• 35% offer access to medical insurance. This is well under the national average of 69%.
• These businesses provide an average monthly employer premium of $1,076 for family coverage. This is below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $467 for individual coverage. This is above the national average of $458.

What percentage of restaurant and bar employers offer short and/or long-term disability insurance?

16% of these employers offer short-term disability coverage, and 4% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of restaurant and bar employers offer life insurance?

19% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do restaurant and bar employers provide access to paid family leave?

• 9% provide access to paid family leave. The national average is 20%.
• 79% provide access to unpaid family leave. The national average is 88%.
• 35% offer consolidated leave plans. The national average is 44%.

Summary

As a whole, the restaurant and bar industry is well below the national standard when it comes to providing comprehensive employee benefits packages. There are many opportunities for employers to increase their benefits offering, including providing more retirement savings options, improving disability coverage, adding in more paid vacation days, and providing more inclusive access to paid family leave.

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Nursing assistant and orderly positions are expected to grow 8% in the next eight years, much faster than average. When it comes to attracting top-quality candidates to fill these vital roles, offering an all-inclusive benefits package is a must.

But, staffing approaches can have a significant influence on benefits and structure, with some part time shifts such as three days on and three days off can become the norm. There's also a higher rate of females in child bearing age, and this means a higher demand for quality short term disability benefits and both maternity and paternity leave benefits. Often additional education is required and student loan assistance may be a differentiator. Work related injuries can be more common as there is physical labor involved in many of the roles dealing with patient care.

As a whole, these employees are active participants in the healthcare sector, meaning they are likely to be somewhat higher users and have an improved higher general health education.

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The Nursing Home and Senior Living Industry Employment Summary

There are around 90,000 nursing homes and senior living facilities nationwide, employing over 3.5 million people. Each community has an average of 39 employees, and the industry is female-dominated, with only 21% of employees identifying as male. The median employee age is 43 years old.

Nursing Home and Senior Living Industry Benefits Comparison

What percentage of senior living communities offer medical insurance?

• 72% of nursing home employers offer their employees access to medical insurance. This is above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,118 for family coverage. This is in line with the national average of $1,121.
• Additionally, these businesses provide an average monthly employer premium of $484 for individual coverage. This is also right in line with the national average of $458

What percentage of senior living communities offer short and/or long-term disability insurance?

37% of nursing home facilities offer short-term disability insurance, and 39% provide a long-term disability option. This is lower than the national average of 42% and 34%, respectively.

What percent of senior living communities offer life insurance?

60% of senior living communities offer life insurance coverage. This is slightly above the national average of 56%.

Do senior living communities provide access to paid family leave?

• 26% provide access to paid family leave. The national average is 20%.
• 91% provide access to unpaid family leave. The national average is 88%.
• 67% offer consolidated leave plans. The national average is 44%.

Summary

Nursing homes and senior living communities are in line with the national standard for providing comprehensive employee benefits packages. There are some opportunities to improve their nursing home employee benefits, including providing more in-depth short-term and long-term employee benefits packages and increasing the number of paid vacation days. Once these changes are made, senior living employers will notice how strong benefits packages are a prime factor to attracting employees to their team, while retaining them for years to come.

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