Survey data from the U.S. Department of Labor’s Bureau of Labor Statistics gives a snapshot of benefits offered in the work force and offers local employers a chance to see how their benefits packages stack up in comparison.
The latest survey, based on 2011 data, encompasses information from 17,585 employers representing 101 million private industry employees. Benefits such as medical coverage, retirement, life insurance, paid time off and other health-related coverage areas are analyzed.
For the West North Central division, which includes Missouri, employers can compare their offerings to the survey data to help determine if existing benefits packages are competitive for staff recruiting and retention.
Health and retirementIn the West North Central division, single and family medical coverage is offered by 67 percent of polled companies, with 74 percent of workers participating.
For individual coverage, employers generally pay 80 percent of monthly premiums, with companies paying a monthly average of $327 and employees paying an average of $98.
At 75 percent of the workplaces surveyed, workers are required to pay flat fees for coverage, and 12 percent vary employee contributions based on age, earnings or length of service. The BLS was unable to determine cost data for 10 percent of the single plans based on survey data, and for the remainder, the amount also might vary due to flexible benefits options chosen through cafeteria plans or employer-sponsored reimbursement accounts. In addition, the amount might be a composite rate, which is a set contribution covering more than one benefit area, such as medical care and life insurance.
For family medical care, 77 percent of employers require associates to pay a flat dollar figure and 11 percent vary the payment due to age, earnings or length of service. Institutes pay 72 percent of the monthly premiums and employees pay 28 percent, with the average flat monthly business premium at $812 and employee contribution at $365.
For single coverage with other health-related benefits such as dental, vision and prescription drug coverage, the West North Central companies surveyed pay for 76 percent of premiums. For families, the companies pay an average 67 percent of these premiums, with employees paying the remainder.
According to the survey, life insurance is available to employees at 60 percent of the surveyed employers, with 97 percent participation, and retirement benefits are offered at 66 percent of companies, with 80 percent participation.
Time off Employees have access to paid sick leave at 61 percent of firms surveyed in Missouri’s region. At 63 percent of the companies, employees can earn or accrue a fixed number of sick days each year. At 6 percent of the companies, sick days are available as needed, with no specified annual maximum. Survey results show the median for paid sick days is six per year, regardless of length of employment.
Workers have access to paid vacation days at 76 percent of the companies surveyed. The median after one year of employment is 10 days. After five years and 10 years, the median is 15 days, and after 20 years, it is 20 days.
Consolidated leave plans, or paid-time-off systems are used at 31 percent of companies surveyed. With those plans, a single pool of time off is available for vacation, sick or personal leave. Unlimited accumulation is allowed in 7 percent of businesses that use PTO systems, while 36 percent set limits for the amount of time that can be accrued, and 57 percent don’t permit any carry-over.
For companies that use PTO, the mean amounts available are 15 days after one year, 19 days after five years, 22 days after 10 years and 26 days after 20 years, according to the survey.
Regarding other types of leave:
- 30 percent offer paid personal leave;
- 63 percent offer paid funeral leave;
- 61 percent offer paid jury duty leave;
- 37 percent offer paid military leave; and
- 10 percent offer paid family leave.
The BLS provides solid data for comparing employee benefits packages to others available to the work force. Business leaders should conduct their own employee surveys before making any modifications to ensure that benefits made available are desired by team members.
Lynne Haggerman, M.S., is president/owner of Lynne Haggerman & Associates LLC, a Springfield firm specializing in management training, retained search, outplacement and human resource consulting. She can be reached at lynne@lynnehaggerman.com.[[In-content Ad]]
