Industry Benefits Summary

Health and Personal Care Stores Industry- Employee Benefits Summary

The Health and Personal Care Stores subsector deals with the retail of health and personal care merchandise from a fixed location. This can vary greatly depending on the establishment’s main products; as a result, staff can include pharmacists and opticians as well as salespersons and, of course, cashiers.

Customers expect the employees of health and personal care stores to be educated and knowledgeable about the products they’re selling. Pharmacists and specialized workers are particularly valuable and require extensive experience in their field. Attracting the most ideal candidates in a world where health has become a focus of everyday life necessitates an excellent benefits package. Only with comprehensive plans can these companies bring the best employees on board.

Higher employee turnover rates and percentage of part time workers in health and personal care 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.

How do your benefits compare to other health and personal care stores companies?
Download Your Custom Benefits Report Now

The Health and Personal Care Stores Industry Employment Summary

There are about 97,000 health and personal care stores nationwide, employing over 1 million professionals. On average, each store is on the smaller side, with only 10 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.

The Health and Personal Care Stores Industry Insurance Benefits Comparison

53%

What percent of health and personal care store employers offer medical insurance?

  • 53% of health and personal care 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 health and personal care 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 health and personal care store employers offer life insurance?

42% of health and personal care store companies offer life insurance, which is again below the national average of 56%.

17%

Do health and personal care store employers provide access to paid family leave?

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

Summary

Altogether, the health and personal care stores industry must make some improvements to their employee benefits offerings in order to reach the national industry standard. In order to meet all of their employee’s needs, there are a lot of opportunities for employers to amp up their benefits plans. For example, offering more access to insurance plans, increasing the number of paid vacation days given, and providing ample retirement savings options will go far in attracting the best candidates to their teams.

Next Up

How Does Your 401k Offering Stack Up To Other Employers?
Given their prominent position that 401ks hold in the context of modern workforce management, a closer look at some of the surrounding issues can help ensure that your organization’s offerings remain viable relative to the other employers with which you are competing for talent.
The CFO Role: Less Accounting & More Strategy - Including People Strategy
A look at the state of finance departments across US companies over the last few years reveals an interesting mix of stability and change.
The Market Employment Summary for February 2024
Each month, Mployer Advisor breaks down the Bureau of Labor Statistics’ most recent State Employment and Unemployment Summary to highlight some employment trends across various markets. This is an overview of February’s report.