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Before the COVID-19 pandemic, the travel agency services industry was booming. But since quarantine has required everyone to stay home, the global travel services industry is expected to decrease 20% within the next year. However, not all is lost, as once the COVID-19 pandemic starts getting under control, experts believe travelers will be back to their old ways sooner rather than later.
With all this current uncertainty, employers need to provide some consistency for their employees by offering comprehensive benefits packages. This includes providing medical, vision, and dental insurance, as well as disability coverage, life insurance, and paid time vacation.
Travel agencies tend to be on the smaller side. There are about 23,000 travel agencies in the United States, employing over 213,000 individuals. A little over half - 58.9% of all travel professionals are female, and the average age of each employee is only 9.4 per organization.
Travel agencies only offer access to short-term disability plans 21% of the time. This is half of the national average of 42%. Additionally, a paltry 14% provides long-term disability insurance, when the national average is 34%.
30% of travel agency companies offer life insurance when the national average is 56%.
When it comes to providing benefits for their employees, the travel agent services industry falls well below the national average. There are a lot more that employers can do to bulk up their benefits packages. When they add more paid time off, medical insurance coverage, and disability plans, an employer will invest in their employers and reap the benefits of increased productivity, enhanced trust, and save money in the long run.
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