Industry Benefits Summary

Transportation Equipment Manufacturing Industry- Employee Benefits Summary

The transportation equipment manufacturing industry works with the manufacture and production of the various equipment needed for transporting people and goods. This includes the manufacturing of motor vehicles and parts, aircraft, ships and boats, and railroad rolling stock. As a whole, the transportation equipment manufacturing industry is growing at a steady rate, and a strong market like this needs to present an all-encompassing benefits program to retain talent.

As the industry is broad and encompasses many facets of manufacturing, the benefits plan should be customizable to ensure different working shifts and employee needs. A higher amount of physical labor in this industry can result in an increased number of workers comp claims and higher overall medical expenses, making quality short and long term disability plans important.

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The Transportation Equipment Manufacturing Industry Employment Summary

There are about 10,000 transportation equipment manufacturing organizations nationwide, employing over 1.1 million professionals. On average, each business is on the larger side, with only 117 staff members. This is a male-dominated industry, with only 22% of employees identifying as female, and the average employee age is 44 years old.

The Transportation Equipment Manufacturing Industry Industry Insurance Benefits Comparison

91%

What percentage of these employers offer medical insurance?

  • 91% offer access to medical insurance. This is well above the national average of 69%.
  • These businesses provide an average monthly employer premium of $1,234 for family coverage. This is above the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $452 for individual coverage. This is in-line with the national average of $458.

65%

What percentage of these employers offer short and/or long-term disability insurance?

65% of these employers offer short-term disability coverage, and 49% offer long-term disability insurance. The national average is 42% and 34%, respectively.

81%

What percentage of these employers offer life insurance?

81% offer access to a life insurance plan. Comparatively, the national average is 56%.

18%

Do these employers provide access to paid family leave?

  • 18% provide access to paid family leave. The national average is 20%.
  • 92% provide access to unpaid family leave. The national average is 88%.
  • 33% offer consolidated leave plans. The national average is 44%.

Summary

All in all, the transportation equipment manufacturing industry stands above the national industry standard of providing employees with all-inclusive employee benefits packages. However, there are still some improvements that can be made, such as providing more options for paid family leave and retirement savings plans to meet all their employee’s needs. Once these changes are made, employers will realize that comprehensive transportation equipment manufacturing employee benefits are key to creating a healthy, productive work environment. And as a result, employers will experience decreased costs, higher efficiency levels, and stronger teams.

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