Employee Benefits Summary for the Industrial Materials Wholesalers Industry

Learn more about the types of benefits industrial materials wholesaler companies offer across medical, short term disability, long term disability, life, vacation and leave and financial incentives.

Did you know about 86% of Industrial Materials Wholesaler Companies offer medical insurance?

Complete Benefits Guide:

  • Medical
  • Disability
  • Life
  • Sick & Vacation
  • Retirement

 

The industrial materials wholesalers industry deals with the sale of industrial materials, such as glass, metals, wood, concrete, and plastics, to other businesses usually based out of a warehouse. Wholesaling specifically refers to an intermediate step in the distribution process; wholesalers purchase large quantities of products directly from distributors, benefiting from increased buying power and various discounts.

The handling of industrial materials requires significantly more training and education than consumer goods due to the inherent risks involved. Companies will need to balance that risk with a comprehensive industrial materials wholesaler employee benefits package if they want to bring the best candidates on board.

For example, a higher amount of physical labor within this industry can result in an increased number of workers comp claims and higher overall medical expenses, making the need for quality short and long term disability plans incredibly important. Additionally, with a higher percentage of males in the industry, there is an increased importance on access to employer sponsored healthcare and a 401K match, as this demographic tends to value these benefits over others.

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The Industrial Materials Wholesalers Industry Employment Summary

As of January 2021, there were 173,000 consumer goods wholesaler facilities nationwide, employing over 2.3 million professionals. On average, each business is on the smaller side, with 14 staff members. This is a male-dominated industry, with only 30% of employees identifying as female, and the median employee age is 45 years old.

The Industrial Materials Wholesalers Industry Insurance Benefits Comparison

86% Offer Medical Benefits

What percentage of industrial materials wholesalers offer medical insurance?

  • 86% offer access to medical insurance. This is well above the national average of 69%.
  • These businesses provide an average monthly employer premium of $1,037 for family coverage. This is below the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $433 for individual coverage. This is in-line with the national average of $458.
53% Offer Short-Term Long-Term Disability

What percentage of industrial materials wholesalers offer short and/or long-term disability insurance?

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

72% Offer Life Insurance

What percentage of industrial materials wholesalers offer life insurance?

72% offer access to a life insurance plan. Comparatively, the national average is 56%.

18% Offer PaidFamily Leave

Do industrial materials wholesalers provide access to paid family leave?

  • 18% provide access to paid family leave. The national average is 20%.
  • 88% provide access to unpaid family leave. The national average is 88%.
  • 32% offer consolidated leave plans. The national average is 44%.

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Summary

Altogether, the industrial materials wholesalers industry is in-line with the national standard when providing all-inclusive benefits packages to their employees. There are some improvements that can be made, such as offering more monthly employer premiums for individual and family medical coverage and providing more family leave options to better meet their employee’s needs.

Once these changes are put in place, businesses in this industry will have what it takes to stand out as a differentiator from their competitors, ensuring the best talent is both attracted to their team and is retained for years to come.