Company management is a broad term and includes any business, organization, and/or firm that has controlled interest and can administer, oversee, and make decisions of that company. Management companies are those that perform the essential activities within any business and can be found in almost every industry. They tend to be grouped as a subsector to make it easy to notice change, growth, and any other trends that may be all-encompassing and thematic from business to business.The company management subsector is part of the robust professional and business services industry.

The Company Management Industry Employment Summary

There are about 56,000 company management businesses nationwide, employing more than 3.4 million individuals. Compared to other industries, businesses in company management are quite large, with an average of 61 employees each. There are almost an equal number of male and female employees in this field, and the average age of each worker is 42 years old.

Company Management Benefits Comparison

What percent of company management firms offer medical insurance?

• 73% of company management businesses offer medical insurance. This is above the national average of 69%.
• These firms provide an average monthly employer premium of $1,064 for family coverage. This is slightly below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $433 for individual coverage. Again, this is slightly below the national average of $456.

What percent of company management firms offer short and/or long-term disability insurance?

44% of company management businesses offer short-term disability insurance, and 43% provide long-term disability insurance. Comparatively, the national average is 42% and 34%, respectively.

What percent of company management firms offer life insurance?

58% of company management firms offer life insurance coverage. The national average is 56%.

Do company management firms provide access to paid family leave?

• 23% provide access to paid family leave, slightly above the national average is 20%.
• Unpaid family leave is offered 86% of the time, and the national average is 88%.
• Consolidated leave plans are used in 48% of companies, compared to the national average of 44%.

Summary

In summary, the company management industry’s benefits offering is in-line with other organizations across the country. To improve their standing, businesses in this industry can improve their average monthly premium health insurance costs for both individual and family plans, increase the number of paid vacation holidays, and amp up their retirement offerings. Doing so will lead to increased employee satisfaction and productivity, which results in decreased costs for the business as a whole.

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The Department Stores industry is all-encompassing; individual lines of merchandise, whether it be jewelry, electronics, clothing, home furnishings, or toys, are housed under one roof with no single line predominating sales. As of 2019, in-store shopping dominated the market in toys, clothing and fashion, skin and hair care products, and household appliances, most of which are commonly found in department stores.

It takes a village to run a department store. Whether employers are looking to hire cashiers, salespersons, supervisors, or stock clerks, it is essential that benefits are offered to attract the best talent.

Higher employee turnover rates and percentage of part time workers in department 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 Department Store Industry Employment Summary

There are about 54,000 department stores nationwide, employing over 2.7 million professionals. On average, each store is medium-sized, with 50 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.

The Department Store Industry Insurance Benefits Comparison

What percent of department store employers offer medical insurance?

• 53% of department store 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 department store 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 department store employers offer life insurance?

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

Do department store employers provide access to paid family leave?

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

Summary

As a whole, the department store industry has a lot of improvements to make when it comes to providing all-inclusive employee benefits packages to their teams. There are many ways employers can amp up their department store employee benefits offerings, such as providing access to medical insurance, increasing the number of paid vacation days, and giving more retirement savings options. Once these changes are made, employers will notice that offering a strong benefits package is key to enticing and retaining top-notch and experienced employers to their team.

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Booming Residential Markets Lead to High Demand for Quality Construction Workers

Whether your construction business works on skyscrapers or unique building finishes, your employees; from bricklayers to electricians; are the foundation of your service offerings. Completing projects safely, on time, under budget, and with high customer service are directly correlated to the quality of your output.

You need the right set of benefits to attract and retain the best talent in your market. In the construction field, a higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses. Because of this, quality short and long term disability plans are important.

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Construction Industry Employment Summary

There are an estimated 170,000 construction companies in the United States, employing over 680,000 people. In general, the industry is heavily male, with the average employer having four full-time employees, making it more important than ever to invest in the right employee benefits. Doing so will save your company money, help to retain the best employees, and can prevent unforeseen costs.

High Level Benefits Summary

What percent of construction companies offer medical insurance?

• 74% of construction companies offer medical benefits to their employees. This is higher than the national average of 69%.
• The average flat monthly employer premium for family coverage is $1,065.
• Comparatively, the average flat monthly employer premium for single coverage is $445.

What percent of construction companies offer life insurance?

75% of construction companies offer life insurance, which is again below the national average.

What percent of construction companies offer short and or long-term disability insurance?

29% of construction companies offer access to a short-term disability plan, and only 17% offer access to a long-term disability plan. These are both well below the national averages.

Do construction companies provide access to paid family leave?

• 11% of construction companies provide access to paid family leave compared to the national average of 20%.
• Unpaid family leave is offered at 81% compared to the national average of 88%.
• Consolidated leave plans are only used in 36% of construction companies compared to the national average of 44%.

Summary

The construction industry has unique risks. Employers look to offer competitive medical insurance with the national averages but are below average in their disability, life, vacation, and leave as well as retirement offerings. If an employer can better design a plan, you should be able to attract and retain top-quality employees and use this plan as a differentiator.

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The consumer goods wholesalers industry deals with the sale of consumer merchandise, such as clothing, food, or jewelry, to other businesses. Wholesaling specifically refers to an intermediate step in the distribution process; wholesalers purchase large quantities of products directly from distributors, benefiting from increased buying power and various discounts.

Understanding the ins and outs of the supply chain is vital in the wholesale trade sector. Employees must be experienced in the field or major, costly mistakes can be made. Many top candidates will be drawn toward positions that offer extensive consumer wholesaler employee benefits packages. As an example, a higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses, making quality short and long term disability plans incredibly important. Additionally, a higher percentage of males in the industry place importance on access to employer sponsored healthcare and a 401K match.

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The Consumer Goods Wholesalers Industry Employment Summary

There are about 237,000 consumer goods wholesaler facilities nationwide, employing over 3.7 million professionals. On average, each business is on the smaller side, with 16 staff members. This is a male-dominated industry, with only 30% of employees identifying as female, and the median employee age is 45 years old.

The Consumer Goods Wholesalers Industry Insurance Benefits Comparison

What percentage of consumer wholesaler employers offer medical insurance?

• 86% offer access to medical insurance. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,037 for family coverage. This is below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $433 for individual coverage. This is in-line with the national average of $458.

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

53% of consumer wholesaler employers offer short-term disability coverage, and 41% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of consumer wholesaler employers offer life insurance?

72% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do consumer wholesaler employers provide access to paid family leave?

• 18% provide access to paid family leave. The national average is 20%.
• 88% provide access to unpaid family leave. The national average is 88%.
• 32% offer consolidated leave plans. The national average is 44%.

Summary

Altogether, the consumer goods wholesalers industry is in-line with the national standard when providing comprehensive employee benefits packages. There are some improvements employers can make, such as offering more monthly employer premiums for individual and family medical coverage and provide more family leave options to better meet their employee’s needs.

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The data hosting and processing service industry is a subsector of the larger Information sector. These organizations are responsible for producing and distributing different channels of communication, as well as accurately handling and preparing data.

Businesses in the data hosting and processing service industry include software publishing services, broadcasting, telecommunications, web search portals, and information services. With more and more businesses choosing to run their operations online, this industry is expected to grow on an average of 3.5% year over year for the next 5 years. As a result, there is a need for quality employees to commit to this expansion with experience and ease.

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.

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The Data Hosting and Processing Industry Employment Summary

There are about 30,000 data hosting companies across the nation, employing 828,000 individuals. Businesses in this industry tend to be mid-sized, with an average of 28 employees each. 44% of their employees identify as female, and the median age of each worker is 40 years old.

Data Hosting and Processing Service Industry Benefits Comparison

What percent of data hosting companies offer medical insurance?

• A full 86% of data hosting companies offer medical insurance, well over the national average of 69%.
• These firms provide an average monthly employer premium of $1,240 for family coverage. This is slightly above the national average of $1,121.
• They also provide an average monthly employer premium of $463 for individual coverage. Again, this is slightly over the national average of $456.

What percent of data hosting companies offer short and/or long-term disability insurance?

75% of data hosting businesses offer short-term disability insurance, and 72% provide long-term disability insurance. Comparatively, the national average is 42% and 34%, respectively.

What percent of data hosting companies offer life insurance?

79% of these businesses offer life insurance coverage. The national average is 56%.

Do data hosting companies provide access to paid family leave?

• 47% provide access to paid family leave, well over the national average of 20%.
• Unpaid family leave is offered 92% of the time, and the national average is 88%.
• Consolidated leave plans are used in 44% of businesses, in line with the national average.

Summary

Overall, the data processing and hosting services industry offers extremely competitive benefits, that are well above the general industry standard nationwide. There is only one metric, retirement benefits, that companies in this industry can improve upon. But even still, they currently stand right under the national average, so they don’t have much to improve upon. But when they do, business owners can expect an influx of quality, experienced employees ready to add value and expertise to their teams.

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The computer, electronic, and appliance manufacturing industry is included in the goods-producing industries supersector. Its primary concern is manufacturing computers, communications equipment, and other similar electronic products. Working together to design, manufacture, and assemble these products is a wide-ranging field of computer hardware engineers, electrical engineers and technicians, and electronic equipment assemblers.

The rapid growth of this industry indicates that companies will need to hire new and talented employees to keep up with the demand and the pace of technological advancement. Employers advertising robust and comprehensive insurance coverage will attract the top minds in the field to work for their businesses.

A higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses, thus making quality short and long term disability plans important. Additionally, a higher percentage of males are in this industry, and this demographic tends to place importance on having access to employer sponsored healthcare and 401K match benefits.

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The Computer, Electronic & Appliance Manufacturing Industry Employment Summary

There are about 18,000 computer, electronic, and appliance manufacturing plants across the country, employing over 1.13 million employees. Companies in this industry are mid-sized, with each one having an average of 64 employees. This is a male-dominated industry, with 30% of employees identifying as female, and the median employee age is 44 years old.

Computer, Electronic & Appliance Manufacturing Industry Benefits Comparison

What percent of computer, electronic, and appliance manufacturing plants offer medical insurance?

• 91% offer their employees access to medical insurance. This is well above the national average of 69%.
• These employers provide an average monthly employer premium of $1,234 for family coverage. This is above the national average of $1,121.
• Additionally, these businesses provide an average monthly employer premium of $452 for individual coverage. This is also a bit below the national average of $458.

What percentage of computer, electronic, and appliance manufacturing plants offer short and/or long-term disability insurance?

65% of computer, electronic, and appliance manufacturing plants offer short-term disability insurance, and 49% provide a long-term disability option. The national average for these metrics is 42% and 34%, respectively.

What percent of computer, electronic, and appliance manufacturing plants offer life insurance?

81% offer access to life insurance coverage. This is well above the national average of 56%.

Do computer, electronic, and appliance manufacturing plants provide access to paid family leave?

• 18% provide access to paid family leave, which is slightly below the national average of 20%.
• 92% provide access to unpaid family leave, which is above the national average of 88%.
• 33% offer consolidated leave plans, which is also slightly below the national average of 44%.

Summary

The computer, electronic, and appliance manufacturing industry stands above the national average for providing all-inclusive employee benefits packages. There are a few opportunities for improvement, including providing access to paid family leave and consolidated leave plans, as well as boosting their retirement benefits offerings. Once these employers improve their employee benefits packages, they will notice how their business can grow and thrive.

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