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The furniture and home furnishings stores subsector involves the sale of new furniture and home furnishings from a fixed location. Since most people like to see and feel their furniture before they buy it, this often means that showrooms and warehouses are required for the presentation of products.
The best employees will have a background in or deep understanding of interior design and customer service so they can assist shoppers in a wide variety of ways. To beat out their competition and attract top talent, employers will have to offer comprehensive furniture store employee benefits packages.
Higher employee turnover rates and percentage of part time workers in furniture and home furnishing stores can make benefit offerings and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working. Disability plans are important as there can be a physical component to the role, from moving heavy items to stocking shelves. To create a custom benefit package, every employer needs to know their specific group of employees.
There are about 51,000 furniture and home furnishings stores nationwide, employing 461,000 professionals. On average, each store is on the smaller side, with only 9 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 38 years old.
35% of employers offer short-term disability insurance, and 12% provide a long-term disability option. The national average is 42% and 34%, respectively.
42% of furniture and home furnishing store companies offer life insurance, which is again below the national average of 56%.
As a whole, the furniture and home furnishings stores industry needs to make some improvements to reach the national standard of providing all-inclusive benefits packages to their employees. There are a lot of opportunities for these employers to amp up their furniture store employee benefits, such as offering more access to insurance plans, increasing the number of paid vacation days given, and providing ample retirement savings options.
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