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The Hotels and Lodging industry focuses on providing short-term accommodations for travelers and vacationers. Many businesses go above and beyond this basic aspect by including meals, laundry services, and recreational facilities. These complementary services can enhance a lodger’s experience and allow a company to earn a more significant profit as well as bring in new employees.
Only companies offering extensive healthcare benefits will be able to attract the talent vital to a successful hospitality business.
Higher employee turnover rates and percentage of part time workers can make benefit offering 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 being near cooking equipment. To create a custom benefit package, you need to know your specific group of employees.
There are about 68,000 hotel and lodging organizations nationwide, employing over 2.1 million people. On average, each accommodation facility is mid-size, with an average of 31 staff. The industry has 59% female employees, with the median employee age being 42 years old.
16% of hotels offer short-term disability insurance, and 4% provide a long-term disability option. This is lower than the national average of 42% and 34%, respectively.
19% of hotels offer life insurance coverage. Again, this is well below the national average of 56%.
Compared to other industries nationwide, the hotels and lodging industry stands well below the national standard for providing comprehensive employee benefits packages. In order to attract and retain quality candidates, hotel and lodging employers need to improve their offerings in an effort to create the best hotel employee benefits possible. Once these changes are made, employers will soon realize the true impact on how providing a strong benefits package is a prime factor in attracting quality staff and retaining them in the future.
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