Industry Benefits Summary

Employee Benefits Summary for the Warehousing and Storage Industry

The warehousing and storage industry provides facilities for the warehousing and storage of general merchandise, refrigerated goods, and various other products. This industry plays a major role in the logistics of businesses throughout the world; though they do not sell the goods they hold, they are exclusively responsible for keeping them secure and may provide additional distribution services.

Skilled workers are essential in this sector. Industrial truck and tractor operators are required to possess certain certifications while transportation, storage, and distribution managers must know the ins and outs of how to handle, store, and move the products they’re in charge of. Only businesses offering excellent warehouse employee benefits will be considered by top candidates.

For example, in the warehousing and storage industry, a higher amount of physical labor can result in an increased number of workers comp claims and higher overall medical expenses. Becuase of this, quality short and long term disability plans are important. With a higher percentage of males in the industry, this demographic places importance on access to employer sponsored healthcare and 401K match. Additionally, wellness programs are playing an increasing importance for the industry. Most employees now have access to smartphones and take an active role in offerings, which differs from plans from 5-10 years ago.

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The Warehousing and Storage Industry Employment Summary

There are about 17,000 warehousing and storage facilities nationwide, employing 914,000 professionals. On average, each business is mid-sized with 54 staff members. This is a male-dominated industry, with only 34% of employees identifying as female, and the median employee age is 37 years old.

The Warehousing and Storage Industry Insurance Benefits Comparison

84%

What percentage of warehousing and storage employers offer medical insurance?

  • 84% offer access to medical insurance. This is well above the national average of 69%.
  • These businesses provide an average monthly employer premium of $1,219 for family coverage. This is in-line with the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $487 for individual coverage. This is just above the national average of $458.

50%

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

50% of warehousing and storage employers offer short-term disability coverage, and 29% offer long-term disability insurance. The national average is 42% and 34%, respectively.

73%

What percentage of warehousing and storage employers offer life insurance?

73% offer access to a life insurance plan. Comparatively, the national average is 56%.

10%

Do warehousing and storage employers provide access to paid family leave?

  • 10% provide access to paid family leave. The national average is 20%.
  • 94% provide access to unpaid family leave. The national average is 88%.
  • 24% offer consolidated leave plans. The national average is 44%.

Summary

All in all, the warehousing and storage industry provides their employees with well-thought-out and comprehensive employee benefits packages, as per the national industry standard rates. However, employers in this industry can still make some improvements, such as providing more long-term disability and paid family leave options to better meet their employee’s needs.

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