Did you know about 53% of Health and Personal Care Stores Companies offer medical insurance?
Complete Benefits Guide:
- Sick & Vacation
Learn more about the types of benefits health and personal care stores companies offer across medical, short term disability, long term disability, life, vacation and leave and financial incentives.
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.
As of January 2021, there were 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.
35% of employers offer short-term disability insurance, and 12% provide a long-term disability option. The national average is 42% and 34%, respectively.
42% of health and personal care store companies offer life insurance, which is again below the national average of 56%.
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.