Are you wondering what benefits other agencies are offering?
This report presents the results of a survey conducted among 25 creative agencies regarding their current employee benefits and HR structures. The key findings are as follows:
- Employee Health Insurance:
- 52% of agencies provide 100% employee-only coverage.
- 52% offer 100% coverage for dependents, with varying percentages offering partial coverage.
- A small portion of agencies (4%) do not provide health insurance.
- HR Management Structure:
- 56% of agencies have HR functions performed by an internal resource, but this person does not have formal HR qualifications.
- 32% outsource their HR functions to consultants.
- Additional Benefits:
- The most common benefits include flexible spending accounts (44%), health savings accounts (40%), and wellness stipends (28%).
- Some agencies offer unique perks like sabbaticals, a 4-day workweek, and professional development.
- Maternity and Paternity Leave:
- 40% of agencies provide 6-8 weeks of 100% paid maternity leave, while 28% offer 12 or more weeks.
- For paternity leave, 64% of agencies offer 6-8 weeks of 100% paid leave.
- Retirement Plans:
- 36% of agencies offer a 401(k) plan with matching contributions. Other retirement plans include Simple IRAs and Safe Harbor options.
- Paid Time Off (PTO):
- Agencies offer a range of vacation days, with 40% providing 10-15 days and 28% offering 16-20 days annually.
- 96% of agencies observe standard holidays like New Year's Day, Thanksgiving, and Christmas, with additional holidays observed by some.
This report highlights the variety of employee benefits offered by creative agencies, showcasing a mix of traditional benefits and more progressive perks like remote work options and wellness stipends.
For more insights, download the full report below.