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The materials manufacturing industry is a broad sector that encompasses the mechanical, physical, or chemical transformation of materials into new products. Establishments ranging from plants, mills, and factories to bakeries, candy stores, and custom tailors are included in this wide-ranging industry, which employs over twelve million people in the U.S.
Production workers, inspectors, testers, purchasing agents, and team assemblers are just a few of the specialty roles to be found across the materials manufacturing industry. Employers offering quality insurance coverage will see a rise in employee retention, satisfaction, and productivity. A higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses, thus making quality short and long term disability plans important. Additionally, a higher percentage of males are in this industry, and this demographic tends to place importance on having access to employer sponsored healthcare and 401K match benefits.
There are 167,000 materials manufacturing plants across the country, employing over 5.5 million employees. Companies in this industry are mid-sized, with each one having an average of 33 employees. This is a male-dominated industry, with only 27% of employees identifying as female, and the median employee age is 43 years old.
65% of materials manufacturing companies offer short-term disability insurance, and 49% provide a long-term disability option. The national average for these metrics is 42% and 34%, respectively.
81% offer access to life insurance coverage. This is well above the national average of 56%.
The materials manufacturing industry is rated as above the national general industry average for providing comprehensive employee benefits packages. However, there are a few opportunities for improvement, including offering more paid family leave and consolidated leave options, as well as improving retirement benefit offerings. When these changes have been made, employers will start to notice how employee benefits offerings are a prime attracting factor to potential employees.
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