The banking industry comprises any institution that handles cash, credit, and any other financial transactions. As a part of the larger financial industry, banking is an industry that is not poised to dramatically slow down any time soon.

With the industry growing at such a high rate, employers are dealing with the challenge of attracting and retaining top talent. When an employer dedicates time to creating an employee benefits package that is appealing to prospective applicants, they can stand out amidst a sea of competition. Quality candidates will not settle for benefit packages that are not comparable to the national average, so employers need to invest in comprehensive banking employee benefits.

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 Banking Industry Employment Summary

There are about 193,990 financial and banking institutions nationwide, employing more than 2.9 million individuals. Each organization averaged 15 employees, and this is a female-dominated field with 53% of all employees identifying as so. On average, the median age of each worker is 43 years old.

Banking Insurance Benefits Comparison

What percent of banking companies offer medical insurance?

• A full 93% of banking institutions offer medical insurance. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,212 for family coverage. The national average is $1,121.
• Additionally, they provide an average monthly employer premium of $455 for individual coverage. The national average is $456.

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

77% of banking institutions provide access to both short and long-term disability insurance. For comparison, the national average is 42% and 34%, respectively.

What percent of banking companies offer life insurance?

89% offer life insurance coverage. The national average is 56%.

Do banking companies provide access to paid family leave?

• 40% of banks provide access to paid family leave. Comparatively, the national average is 20%.
• Unpaid family leave is offered 97% of the time, well above the national average of 88%.
• Consolidated leave plans are used in 55% of banks, compared to the national average of 44%.

Summary

The banking industry far surpasses many other industries when it comes to providing employee benefits packages. By providing an all-inclusive benefits package, banking institutions are attracting and retaining top-quality employees by using their packages as a differentiator. Doing this leads to increased employee productivity, work-life balance, and satisfaction while cutting costs and turnover.

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Businesses in the auto mechanics industry are those that diagnose, adjust, repair, and overhaul automotive vehicles. This includes car dealers, gasoline station owners, car repair shops, car detailing shops, and automotive parts, tires, and accessories stores.

This industry has a positive financial trajectory for the upcoming years. To sustain this newly expected growth, there is a need for automotive employers to attract quality and experienced professionals. The best way to do this is by offering a comprehensive benefits package, with medical, vision, and dental insurance, disability coverage, a life insurance plan, and paid vacation time off.

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The Auto Mechanics Industry Employment Summary

There are about 163,000 automotive companies across the nation, with 910,000 employees. Businesses in this industry are small, with an average of just 6 employees each. This is a predominantly male field, with only 9% of employees identifying as female, and the average age of each worker is 43 years old.

Auto Mechanics Industry Benefits Comparison

What percent of car repair shops offer medical insurance?

• A little under half - 49% - of car repair shops offer medical insurance to their employees. This is well under the national average of 69%.
• These shops provide an average monthly employer premium of $1,043 for family coverage. This is slightly below the national average of $1,121.
• They also provide an average monthly employer premium of $502 for individual coverage. This is slightly over the national average of $456.

What percent of car repair shops offer short and/or long-term disability insurance?

Only one-fourth 25% of car repair shops offer short-term disability insurance, and 19% provide long-term disability insurance. Comparatively, the national average is 42% and 34%.

What percent of car repair shops offer life insurance?

32% of these businesses offer life insurance coverage. The national average is 56%.

Do car repair shops provide access to paid family leave?

• 14% provide access to paid family leave, which is under the national average of 20%.
• Unpaid family leave is offered 87% of the time, which is just under the national average of 88%.
• Consolidated leave plans are used in 44% of businesses, in line with the national average.

Summary

The automotive industry falls short of the national average for many employee benefits offerings, including offering medical insurance, disability coverage, access to paid family leave, and retirement packages. If employers were to amp up their offerings, it would give quality employees more of an incentive to apply to join their teams. And when more top-notch employees come on board, the automotive industry will continue to thrive.

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An Overview on the Background Check and PI Services Industry

The background check and PI services industry is made up of trained professionals who gather, analyze, compile, and present information relating to the occurrences of unlawful acts. Private investigators are hired to search for information concerning legal, financial, and personal matters, and background check professionals are trained to look into an individual’s criminal history.The organizations most likely to hire background check and PI professionals include investigation and security services, credit intermediation companies, legal services, and local governments. As a whole, this industry is growing at a rapid pace. As such, there is a need to attract top-quality candidates to sustain this growth, and a great way to do this is by providing comprehensive background check and PI services employee benefits packages. Typically, this includes access to health, dental, and vision insurance, as well as disability coverage, a life insurance policy, retirement benefits, and ample paid vacation time.

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The Background Check and PI Services Employment Summary

There are about 24,441 background check and PI services organizations nationwide, employing 954,661 individuals. As a predominantly male industry, each company averages 38 employees, with the median age of each employee being 42.

Background Check and PI Services Insurance Benefits Comparison

What percent of background check and PI service companies offer medical insurance?

• Only half; 50%; of all background check and PI service companies offer medical benefits to their employees. This is well below the national average of 69%.
• The average flat monthly employer premium for family coverage is $955. The national average is $1,121.
• The average flat monthly employer premium for single coverage is $406, with the national average being $458.

What percent of background check and PI service companies offer short and/or long-term disability insurance?

Only 21% of employers 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%.

What percent of background check and PI service companies offer life insurance?

Less than one-third of background check and PI service companies offer life insurance, which is lower than the national average of 56%.

Do background check and PI service companies provide access to paid family leave?

• Only 8% provide access to paid family leave. The national average is 20%.
• Unpaid family leave is offered 79% of the time, compared to the national average of 88%.
• 36% offer consolidated leave plans, with the national average being 44%.

Summary

Generally speaking, the background check and PI services industry falls well below the national average for providing employee benefits as a whole. A comprehensive employee benefits package is key to both attracting and retaining experienced and qualified professionals, especially considering the growth the industry is experiencing currently.

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The amusement, gambling, and recreational subsector is part of the larger arts and entertainment industry. This vast industry consists primarily of facilities where patrons can partake in sports, amusement, gambling, or club activities. Some of the most common examples are large amusement parks like Disney World and Universal Studios, casinos, and country clubs.

Employees in this industry range from bartenders, ride operators, and waiters to lifeguards, sports coaches, and instructors. To ensure this industry attracts the best top talent, employers need to offer quality employee benefits packages. This means that to stay in line with other industries, employers need to provide comprehensive health, dental, and vision insurance as well as life and disability coverage and paid vacation time.

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The Amusement, Gambling, and Recreation Industry Employment Summary

There are about 82,000 amusement, gambling, and recreational businesses nationwide, employing over 1.7 million individuals. The average number of employees in each business is 21, with 46% of employees identifying as female, with the median age of each employee being 39 years old.

Amusement, Gambling, and Recreation Insurance Benefits Comparison

What percent of amusement parks and gambling companies offer medical insurance?

• 73% of amusement parks and gambling companies offer medical insurance. The national average is 69%.
• These businesses provide an average monthly employer premium of $1,189 for family coverage. This is above the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $510 for individual coverage. The national average is $456.

What percent of amusement parks and gambling companies offer short and/or long-term disability insurance?

41% of all amusement parks and gambling companies offer access to short-term disability plans, and 53% offer access to long-term disability plans. The national average is 42% and 34%, respectively.

What percent of amusement parks and gambling companies offer life insurance?

64% offer life insurance coverage. The national average is 56%.

Do amusement parks and gambling companies provide access to paid family leave?

• 24% of amusement parks and gambling companies provide access to paid family leave, the national average is 20%.
• Unpaid family leave is offered 87% of the time, slightly below the national average of 88%.
• Consolidated leave plans are used in 24% of businesses, compared to the national average of 44%.

Summary

In general, the amusement, gambling, and recreational industry falls in line with other industries when providing comprehensive benefits packages to their employees. They do extremely well in providing more paid vacation days off than the national standard, but can amp up their offerings for consolidated leave plans and retirement benefits to make themselves stand out to prospective employees in a sea of competition.

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The agriculture and forestry industry is one of the oldest in the United States. But there’s more to this booming industry than just farmers and those who raise animals. In this one industry, you’ll find agricultural engineers, food scientists, agronomists, arborists, forest rangers, botanists, water quality specialists, and wildlife specialists, to name a few options. These employees may range in skill sets and specialties, but they share the same goal: creating and sustaining a better environment for years to come.There has been a recent shift in the industry towards using more technology, away from a high proportion of physical labor. With this in mind, employers need to provide consistent and steady benefits. A good balance of employee types can lead employees to offer a competitive benefit package to attract employees and also ensure quality short and long term disability programs. Additionally, having access to a comprehensive benefits package will not only lead to attracting better talent, but it will give your current employees a sense of pride and incentive in doing a job well done. In turn, you’ll notice higher productivity while cutting unnecessary expenses, saving time and money for all.

The Agriculture & Forestry Employment Summary

The agriculture and forestry industry is small compared to others. There are about 11,000 agriculture and/or forestry businesses nationwide, employing about 66,000 employees. The average business size has only 6 employees, is predominately male, with the median age being about 48 years old.

Building Agriculture & Forestry Insurance Benefits Comparison

What percent of agriculture and forestry companies offer medical insurance?

• The agriculture and forestry industry outshines the national average in providing health insurance coverage to their employees. A full 85% of businesses offer access to medical care when the national average is 69%.
• Agriculture and forestry companies provide an average monthly employer premium of $1,182 for family coverage. This is above the national average of $1,121.
• Additionally, this industry provides an average monthly employer premium of $450 for individual coverage. The national average is $456.

What percent of agriculture and forestry companies offer short and/or long-term disability insurance?

53% of agriculture and forestry companies offer access to short-term disability plans, with the national average being 42%. 39% of companies provide long-term disability insurance when the national average is 34%.

What percent of agriculture and forestry companies offer life insurance?

69% of agriculture and forestry companies offer life insurance coverage. The national average is 56%.

Do agriculture and forestry companies provide access to paid family leave?

• 15% of agriculture and forestry companies provide access to paid family leave. The national average is 20%.
• Unpaid family leave is offered 89% of the time, again, slightly above the national average of 88%.
• Consolidated leave plans are used in 33% of organizations, compared to the national average of 44%.

Summary

As a whole, the agriculture and forestry industry falls above the national average of providing employee benefits. The only options they could ramp up to be in line with national averages is providing access to paid family leave, consolidated leave plans, and adding more retirement benefits. Doing so will increase employee satisfaction, retention, and worth.

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The architect and design services industry is an especially varied one. There are multiple different architectural specialties, from residential, commercial, and eco-friendly, to landscape designers and urban planners. An architect and designer's goal is to provide the initial building concept development, preparation of construction documents, and construction administration. They'll be able to take a look at your building's goals and easily conceptualize the look, the structure, and schematic interior design.

With the real estate market booming nationwide, there is a need for experienced architects to dedicate their time and creativity to one employer. To attract and retain top talent, it is of the utmost importance for employers to offer benefit packages to their employees. This means providing comprehensive health, dental, and vision coverage, both life and disability insurance, as well as paid time off.

Typically skilled workers, 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. 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 Architect and Design Services Industry Employment Summary

There are about 147,000 architect and design firms nationwide, employing over 1.6 million individuals. Each firm tends to be on the smaller side, with an average of 11 employees each. This is a predominantly male industry, with the median age being just under 42 years old.

Architect & Design Services Insurance Benefits Comparison

What percent of architect firms offer medical insurance?

• Architect firms are well above the national average in providing health insurance coverage to their employees. A full 87% of businesses offer access to medical care when the national average is 69%.
• Architect firms provide an average monthly employer premium of $1,032 for family coverage. This is above the national average of $1,121.
• Additionally, this industry provides an average monthly employer premium of $433 for individual coverage. The national average is $456.

What percent of architect and design firms offer short and/or long-term disability insurance?

60% of all architect and design firms offer access to both short-term and long-term disability plans. The national average is 42% and 34%, respectively.

What percent of architect and design firms offer life insurance?

A full 75% of architect and design firms offer life insurance coverage. The national average is 56%.

Do architect and design firms provide access to paid family leave?

• 33% of architect and design firms provide access to paid family leave, the national average is 20%.
• Unpaid family leave is offered 90% of the time, again, slightly above the national average of 88%.
• Consolidated leave plans are used in 63% of organizations, compared to the national average of 44%.

Summary

Architect and design firms are doing quite well with providing their employees a comprehensive set of quality employee benefits. They are right in line with the national averages compared to other industries, and they must keep this up in order to retain quality employees.

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