The dentist and physician offices industry handles the diagnosing and treatment of various injuries and illnesses, with dentists focusing primarily on the teeth, gums, and other parts of the mouth. Both professions require years of schooling, training, and certain licenses to practice medicine.<pThe employment rate of dentists and physicians is expected to rise 3% and 4%, respectively, within the next eight years. Considering the experience and time required to become either, companies will have to offer comprehensive benefits packages to beat out the competition and draw the best talent to their door.

High education and training costs to become medical professionals are incurred and usually result in above average income. To supplement that, employers often need a short and/or long term disability plan that pays above rates, which is usually $15K or higher, and is typically not standard and will take specialized resources such as incredible benefits packages. Competitive benefit packages can help to attract talented employees, lower turnover rates, and lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis. Additionally, student loan repayment, flexible work schedules are attractive and more creative mechanisms like FSAs, HSAs and similar products are likely to be used.

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The Dental and Physician Offices Industry Employment Summary

There are about 517,000 dentist and physician offices nationwide, employing over 4.2 million professionals. On average, each business is small, with only 8 staff members. This is a female-dominated industry, with only 22% of employees identifying as male, and the average employee age is 43 years old.

The Dental and Physician Offices Insurance Benefits Comparison

What percentage of these employers offer medical insurance?

• 72% offer 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, they provide an average monthly employer premium of $484 for individual coverage. This is above the national average of $458.

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

37% of these employers offer short-term disability coverage, and 39% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of these employers offer life insurance?

60% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do these employers 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

As a whole, employers in the dental and physician office industry provide all-inclusive employee benefits packages that are above the national industry standard. However, it is important to mention that there are some improvements that can be made when it comes to providing more disability coverage options. But generally speaking, employers in this industry understand the importance of giving comprehensive benefits to meet their employee’s needs.

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The child daycare industry focuses on providing supervision and educational programs for children of all ages. As a result of an increase in women in the workforce as well as single-parent households, the need for daycare staff is increasing throughout the world.

Companies looking to get a jump start on the hiring process are going to need to offer extensive benefits in order to attract experienced, passionate individuals in the childcare field. Generally speaking, this includes access to medical, dental, and vision insurance, disability coverage, paid vacation days, a life insurance policy, and retirement savings options.

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The Child Daycare, Sitters, Rehab, and Social Assistance Industry Employment Summary

There are about 100,000 child daycare and social assistance organizations nationwide, employing over 1.4 million professionals. On average, each business tends to be on the smaller side, with 15 staff members. This is a female-dominated industry, and the median employee age is 42 years old.

The  Child Daycare, Sitters, Rehab, and Social Assistance Industry Insurance Benefits Comparison

What percentage of child daycare employers offer medical insurance?

• 72% offer access to medical insurance. This is just 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, they provide an average monthly employer premium of $484 for individual coverage. This is slightly above the national average of $458.

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

37% of employers offer short-term disability insurance, and 39% provide a long-term disability option. The national average is 42% and 34%, respectively.

What percentage of child daycare employers offer life insurance?

60% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do child daycare employers 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

As a whole, the child daycare and social assistance industry stands above the national industry standard of providing comprehensive benefits packages to their employees. There is some room for improvement, such as providing more disability coverage options that will help employers meet all of their employee’s needs. Once these slight changes are made, employers will soon realize how providing all-inclusive employee benefits packages is key to standing out as a differentiator to their competition, while also attracting top-notch and experienced candidates to their team.

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Business consulting, also known as management consulting, is the act of providing professional advice for a fee. Typically, small business consultants are specialized in a certain field and are hired on a per-diem basis.

The business consulting industry is growing at a steady rate, with a reported 0.5% growth year over year since 2016. This growth drives home the need for employers to invest in valuable employees to ensure the industry continues on a sustainable growth path.

One of the easiest methods to attracting and retaining quality employees is by offering an in-depth employee benefits package as a differentiator to your competition. As these employees are educated and skilled workers, competitive benefit packages can help to attract talented employees and lower turnover rates. Additionally, benefits can help to lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis. Some examples of this include student loan repayment, flexible work schedules are attractive and more creative mechanisms like FSAs, HSAs and similar products are likely to be used.

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The Business Consulting Industry Employment Summary

There are about 248,000 business consulting firms nationwide, employing more than 1.9 million individuals. On average, each firm has 8 employees, and the employee demographics are pretty evenly split between male and female. The median age of each employee is 42 years old.

Business Consulting Insurance Benefits Comparison

What percent of business consulting firms offer medical insurance?

• 87% of business consulting firms offer medical insurance. This is above the national average of 69%.
• These firms provide an average monthly employer premium of $1,032 for family coverage. The national average is $1,121.
• Additionally, they provide an average monthly employer premium of $433 for individual coverage. The national average is $456.

What percent of business consulting firms offer short and/or long-term disability insurance?

60% of business consulting firms provide access to both short and long-term disability insurance. In comparison, the national average is 42% and 34%, respectively.

What percent of business consulting firms offer life insurance?

A full 75% of business consulting firms offer life insurance coverage. The national average is 56%.

Do business consulting firms provide access to paid family leave?

• A third of all business consulting firms provide access to paid family leave. Comparatively, the national average is 20%.
• Unpaid family leave is offered 90% of the time, and the national average is 88%.
• Consolidated leave plans are used in 63% of firms, compared to the national average of 44%.

Summary

As it stands, the business consulting industry stands in-line compared to other nationwide organizations. To improve their employee healthcare insurance for small business consultants, employers can increase their average medical premiums for both family and individual coverage. Amping up these benefits packages will lead to increased employee retainment, which results in cutting costs and increased productivity.

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The churches, synagogues, and religious organizations industry is comprised of establishments that provide religious worship or promote various religious activities. Generally, this includes convents, monasteries, religiously affiliated community centers, and other houses of worship.

Organizations looking to hire new talent will have to provide comprehensive religious organization employee benefits. These organizations have a higher percentage of part time employees. Usually their boards play a very influential role in who the insurance broker is and the RFP process as well as likely participate in the benefit and insurance carrier plan selection.

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The Churches, Synagogues, and Religious Organizations Industry Employment Summary

There are about 187,000 religious organizations nationwide, employing over 1.6 million professionals. On average, each facility is small, with only 9 staff members, and the average employee age is 42 years old.

The Churches, Synagogues, and Religious Organizations Insurance Benefits Comparison

What percentage of religious organizations offer medical insurance?

• 49% offer access to medical insurance. This is well below the national average of 69%.
• These businesses provide an average monthly employer premium of $1,043 for family coverage. This is below the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $502 for individual coverage. This is above the national average of $458.

What percentage of religious organizations offer short and/or long-term disability insurance?

25% of these employers offer short-term disability coverage, and 19% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of religious organizations offer life insurance?

32% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do religious organizations provide access to paid family leave?

• 14% provide access to paid family leave. The national average is 20%.
• 87% provide access to unpaid family leave. The national average is 88%.
• 34% offer consolidated leave plans. The national average is 44%.

Summary

As a whole, the churches, synagogues, and religious organizations industry stands well below the national average of providing comprehensive employee benefits packages. There is a lot of room for improvement, as employers should increase their benefits offerings as a way to not only meet their employee’s needs, but make them feel valuable and secure.

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The colleges and universities industry &ndash; also known as the higher ed industry &ndash; comprises both public and private not-for-profit educational institutions that provide degrees, certifications, and licensing opportunities. This industry has experienced great levels of growth in the past few years, as the improving job market has inspired students to enter higher education in pursuit of a license or a degree.

The higher ed industry shows no sign of slowing down anytime soon. This just highlights the vital importance of investing in experienced teachers and educational professionals to sustain this unprecedented growth. One of the best methods of doing so is to offer college employee benefits plans, which typically includes offering access to health, vision, and dental insurance, disability coverage, a life insurance plan, a retirement savings account, and ample paid vacation time.

For educational services, the school boards and trustees often play a key role in the insurance broker and carrier selections. For public institutions, benefits are usually organized on a regional or even statewide basis and there tends to be a higher level of unionization. With a higher percentage of females, short and long term disability is important. Complications include working for 9 months out of the year, yet needing coverage for 12 months so the way certain things are approached from payroll deductions to enrollment have to be customized. Traditionally, educational institutions have shown a higher uptake of voluntary plans, making employee education extremely important.

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The Colleges, Junior Colleges, Universities, and Technical Schools Industry Employment Summary

There are about 22,000 higher education institutions nationwide, employing over 2 million educators. On average, each school has 95 staff members, with 70% of the employees identifying as female and the median employee age is 44 years old.

The Colleges, Junior Colleges, Universities, and Technical Schools Industry Insurance Benefits Comparison

What percent of higher education institutions offer medical insurance?

• 73% offer access to medical insurance. This is just above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,189 for family coverage. This is also slightly above the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $510 for individual coverage. This is above the national average of $458.

What percentage of higher education institutions offer short and/or long-term disability insurance?

41% of employers offer short-term disability insurance, and 53% provide a long-term disability option. The national average is 42% and 34%, respectively.

What percent of higher education institutions offer life insurance?

64% of colleges, junior colleges, universities, and technical schools offer life insurance coverage. The national average is 56%.

Do higher education institutions provide access to paid family leave?

• 24% of higher education institutions provide access to paid family leave. The national average is 20%.
• Unpaid family leave is offered 87% of the time, which is slightly below the national average of 88%.
• Consolidated leave plans are used in 24% of organizations, compared to the national average of 44%.

Summary

As a whole, the colleges, junior colleges, universities, and technical schools industry offers employee benefits packages that are above the national industry standard. Some improvements can be made, such as increasing access to retirement benefits, but this industry is doing very well in providing for their employees.

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A Clothing Store Industry Overview

The Clothing and Clothing Accessories Stores sub-sector consists of clothing stores, shoe stores, and jewelry, luggage, and leather goods stores. Due to this retail focus, employees are required to have extensive knowledge of fashion trends as well as how styles, colors, and different combinations of pieces and accessories can be suited to the interests of each individual customer.

The need to hire talented, capable customer service agents and sales associates has never been higher. With the added risk of working in a customer-facing environment, only companies offering comprehensive insurance plans will draw the best employees.

Higher employee turnover rates and percentage of part time workers in clothing 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 Clothing and Clothing Accessories Stores Industry Employment Summary

There are about 143,000 clothing stores nationwide, employing over 1.7 million professionals. On average, each shop was on the smaller side, with 12 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.

The Clothing and Clothing Accessories Stores Industry Insurance Benefits Comparison

What percent of clothing store employers offer medical insurance?

• 53% offer access to medical insurance. This is much lower than the national average of 69%.
• TThese 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 clothing 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 clothing store employers offer life insurance?

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

Do clothing store 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%.
• 35% offer consolidated leave plans. The national average is 44%.

Summary

As a whole, the clothing and clothing accessory store industry has a lot of work to do when it comes to providing all-inclusive employee benefits packages. There are many improvements that need to be made by clothing store employers in order to become in-line with the nationwide general industry standard of providing benefits, such as offering access to medical insurance and increasing paid vacation days. When these changes are made, employers will notice that offering a strong clothing store employee benefits package is key to enticing and retaining top-notch employers to their team.

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