Industry Benefits Summary

Industry Associations Industry- Employee Benefits Summary  

Industry associations, also known as trade associations, are organizations that are founded and funded by the businesses operating within a specific industry. They generally participate in public relations activities (e.g., advertising, education, publishing, lobbying, etc.), but their main focus is on collaboration between companies.

Hiring experienced workers is a necessity for industry associations; employees must be extremely knowledgeable of their specific trade, whether it be apparel manufacturing or air, land, and water transportation. Businesses looking to bring on new workers will need to offer extensive employee benefits packages to ensure they get the best of the best. For example, access to health, vision, and dental insurance -- as well as life and disability insurance -- are an absolute must.

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The Industry Associations Industry Employment Summary

As of January 2021, there were 59,000 industry associations nationwide, employing 414,000 professionals. On average, each organization is small, with only 8 staff members, and the average employee age is 42 years old.

The Industry Associations Insurance Benefits Comparison

70%

What percentage of industry associations offer medical insurance?

  • 70% offer access to medical insurance. This is just above the national average of 69%
  • These businesses provide an average monthly employer premium of $1,207 for family coverage. This is above the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $557 for individual coverage. This is above the national average of $458.

28%

What percentage of industry associations offer short and/or long-term disability insurance?

28% of these employers offer short-term disability coverage, and 27% offer long-term disability insurance. The national average is 42% and 34%, respectively.

58%

What percentage of industry associations offer life insurance?

58% offer access to a life insurance plan. Comparatively, the national average is 56%.

19%

Do industry associations provide access to paid family leave?

  • 19% provide access to paid family leave. The national average is 20%.
  • 92% provide access to unpaid family leave. The national average is 88%.
  • 22% offer consolidated leave plans. The national average is 44%.


Summary

Generally speaking, the industry association industry is in-line with the general standard when it comes to providing comprehensive employee benefits packages. However, despite its wins, there is a lot of room for improvement, especially in providing more disability coverage, retirement savings plans, and access to paid family leave. Once these changes have been made, employers will realize that providing inclusive employee benefits plans is one of the best ways to create a healthy, productive, and secure workplace.

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