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Industry associations, also known as trade associations, are organizations that are founded and funded by the businesses operating within a specific industry. They generally participate in public relations activities (e.g., advertising, education, publishing, lobbying, etc.), but their main focus is on collaboration between companies.
Hiring experienced workers is a necessity for industry associations; employees must be extremely knowledgeable of their specific trade, whether it be apparel manufacturing or air, land, and water transportation. Businesses looking to bring on new workers will need to offer extensive employee benefits packages to ensure they get the best of the best. For example, access to health, vision, and dental insurance -- as well as life and disability insurance -- are an absolute must.
As of January 2021, there were 59,000 industry associations nationwide, employing 414,000 professionals. On average, each organization is small, with only 8 staff members, and the average employee age is 42 years old.
28% of these employers offer short-term disability coverage, and 27% offer long-term disability insurance. The national average is 42% and 34%, respectively.
58% offer access to a life insurance plan. Comparatively, the national average is 56%.
Generally speaking, the industry association industry is in-line with the general standard when it comes to providing comprehensive employee benefits packages. However, despite its wins, there is a lot of room for improvement, especially in providing more disability coverage, retirement savings plans, and access to paid family leave. Once these changes have been made, employers will realize that providing inclusive employee benefits plans is one of the best ways to create a healthy, productive, and secure workplace.
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