The real estate industry deals with a host of activities: renting or leasing property to others; managing property for others; and selling, buying, or renting property for others. Other services, such as appraisals, are also included under this umbrella.
Real estate is a vast field that requires a number of vital occupations to function. Bookkeepers and accountants keep track of the money exchanged, landscapers and groundskeepers ensure that the property looks great, and brokers use their extensive education to guarantee the deal goes smoothly. Businesses looking to bring on the best talent in this sector will need to provide adequate compensation to stand as a differentiator against their competition.
Usually with smaller offices, access to individual plans is important and giving employees options to make the best selection for their needs across medical, disability, life and other plans.
There are around 349,000 real estate companies nationwide, employing over 1.6 million professionals. On average, each business is small, with only 5 staff members. This industry is evenly split between male and female employees, and the average employee age is 49 years old.
40% of these employers offer short-term disability coverage, and 33% offer long-term disability insurance. The national average is 42% and 34%, respectively.
52% offer access to a life insurance plan. Comparatively, the national average is 56%.
Altogether, the real estate industry has some improvements they have to make in order to be in-line with the national industry standard for providing comprehensive employee benefits packages. Employers have the opportunity to amp up their benefits offerings, including providing more retirement savings plans, increasing disability coverage, and providing more inclusive access to paid family leave. Once these changes have been made, employers will be able to better meet their employee’s needs, while attracting and retaining new talent to their teams for years to come.
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