Industry Benefits Summary

Food and Beverage Store Industry- Employee Benefits Summary

The food and beverage stores subsector focuses on the sale of food and beverage merchandise in fixed physical locations, such as grocery stores or beer, wine, and liquor stores. Because this industry deals with perishable items, certain machinery (freezers, refrigerators, etc.) are required to display food and beverage goods.

To maintain the required sanitary and storage conditions, all food and beverage store employees must be trained in the processing of food products. By offering great employee benefits, employers will be able to narrow down the herd of applicants to only a few of these extremely qualified professionals.

Higher employee turnover rates and percentage of part time workers in food and beverage 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 Food and Beverage Stores Industry Employment Summary

There are about 150,000 food and beverage stores nationwide, employing over 3 million professionals. On average, each store is on the smaller side, with only 21 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.

The Food and Beverage Stores Industry Insurance Benefits Comparison

53%

What percent of food and beverage store employers offer medical insurance?

  • 53% of food and beverage 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.

35%

What percentage of food and beverage 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.

75%

What percent of food and beverage store employers offer life insurance?

42% of food and beverage store companies offer life insurance, which is again below the national average of 56%.

17%

Do food and beverage store employers provide access to paid family leave?

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

Summary

All in all, the food and beverage stores industry has some improvements to make if employers want to reach the national standard of providing their workers inclusive employee benefits packages. There are many opportunities for employers to increase their benefits offerings, starting with providing access to medical insurance, more paid vacation holidays, and giving ample retirement savings options.

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