The telecommunications industry is part of the larger Information subsector, and companies in this industry primarily produce and transmit data in the form of sound, text, voice, and video. This includes businesses that provide cable, television, media, Internet, and VoIP. Anything that requires communicating from point A to point B is part of the telecommunications industry.

The trajectory for this industry is incredibly positive in the upcoming years. To sustain this expected growth, there is a need to attract quality and experienced telecommunication professionals, and the best way to do this is via a comprehensive benefits package.

In this industry, employees are typically skilled workers, and competitive benefit packages can help to attract talented employees. This means that student loan repayment, flexible work schedules are attractive and more creative to entice employees. As a result, employers will experience lower turnover rates, and lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis.

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The Telecommunications Industry Employment Summary

There are around 61,000 telecommunication companies across the nation, employing over 1.07 million individuals. Businesses in this industry are on the smaller side, with an average of 18 employees each. 41% of their employees identify as female, and the median age of each worker is 42 years old.

Telecommunications Industry Benefits Comparison

What percent of telecommunications companies offer medical insurance?

• 86% of telecommunications companies offer medical insurance, well over the national average of 69%.
• These firms provide an average monthly employer premium of $1,240 for family coverage. This is slightly above the national average of $1,121.
• They also provide an average monthly employer premium of $463 for individual coverage. Again, this is slightly over the national average of $456.

What percent of telecommunications companies offer short and/or long-term disability insurance?

75% of telecommunications businesses offer short-term disability insurance, and 72% provide long-term disability insurance. Comparatively, the national average is 42% and 34%, respectively.

What percent of telecommunications companies offer life insurance?

79% of these businesses offer life insurance coverage. The national average is 56%.

Do telecommunications companies provide access to paid family leave?

• 47% provide access to paid family leave, well over the national average of 20%.
• Unpaid family leave is offered 92% of the time, and the national average is 88%.
• Consolidated leave plans are used in 44% of businesses, in line with the national average.

Summary

As a whole, the telecommunications field offers competitive benefits, with most of their offerings being well above the general industry standard nationwide. There is only one benefit, retirement offerings, that companies in this industry can increase to be aligned with other industries.

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Taxis, buses, and subway transit fall under the overarching umbrella of the passenger vehicle drivers industry. With the ultimate goal of transporting people from place to place, drivers are expected to know the layout of the area they are working in as well as possess any special certifications or licenses for the vehicle they’re operating.

Employment rates in this industry are expected to rise a whopping 11% in the next eight years. Increased competition will force businesses to get creative in order to bring the best candidates to their door. Generally speaking, transit employee benefits packages include access to health, vision, and dental insurance, paid time off, life insurance plans, disability coverage, and retirement savings.

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The Taxis, Buses, and Subway Transit Industry Employment Summary

There are about 35,000 taxi, buses, and subway tour organizations nationwide, employing 636,000 professionals. On average, each business is small, with 18 staff members. This is a male-dominated industry, with only 24% of employees identifying as female, and the median employee age is 44 years old.

The Taxis, Buses, and Subway Transit Industry Insurance Benefits Comparison

What percentage of transportation employers offer medical insurance?

• 84% offer access to medical insurance. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,219 for family coverage. This is in-line with the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $487 for individual coverage. This is just above the national average of $458.

What percentage of transportation employers offer short and/or long-term disability insurance?

50% of transportation employers offer short-term disability coverage, and 29% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of transportation employers offer life insurance?

73% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do transportation employers provide access to paid family leave?

• 10% provide access to paid family leave. The national average is 20%.
• 94% provide access to unpaid family leave. The national average is 88%.
• 24% offer consolidated leave plans. The national average is 44%.

Summary

Overall, the taxis, buses, and subway transit industry provides their employees with comprehensive employee benefits packages, as per the national industry standard.

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The social assistance services subsector provides a number of different social services directly to clients; community food and housing services, emergency relief services, rehabilitation services, and even child daycare services fall under this vital umbrella.

Employees in this industry serve so many people on a regular basis that capable, caring employees will always be needed. Only businesses offering protection in the form of comprehensive health coverage will be able to draw the best candidates. Higher employee turnover rates and percentage of part time workers can make benefit offering and administration somewhat more difficult than the average industry. The average employee demographic can range significantly from a high school senior to a retired senior citizen, each with different motivations for working.

Additionally, staffing approaches can have a significant influence on benefits and structure, with some part time shifts, becoming the norm. With both a higher rate of females in child-bearing age as well as a variety of older employees, disability plans are important as there can be a physical component to this role. To create a custom benefit package, you need to know your specific group of employees and decide what options will meet their needs.

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The Social Assistance Services Industry Employment Summary

There are around 76,000 social assistance services organizations nationwide, employing over 1.8 million professionals. On average, each business tends to be on the smaller side, with 25 staff members. This is a female-dominated industry, and the median employee age is 42 years old.

The Social Assistance Services Industry Insurance Benefits Comparison

What percentage of social assistance services employers offer medical insurance?

• 72% offer access to medical insurance. This is just above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,118 for family coverage. This is in-line with the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $484 for individual coverage. This is slightly above the national average of $458.

What percentage of social assistance services employers offer short and/or long-term disability insurance?

37% of employers offer short-term disability insurance, and 39% provide a long-term disability option. The national average is 42% and 34%, respectively.

What percentage of social assistance services employers offer life insurance?

60% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do social assistance services employers provide access to paid family leave?

• 26% provide access to paid family leave. The national average is 20%.
• 91% provide access to unpaid family leave. The national average is 88%.
• 67% offer consolidated leave plans. The national average is 44%.

Summary

In general, the social assistance services industry stands above the national industry standard of providing comprehensive benefits packages to their employees. While yes, there is some room for improvement, such as providing more disability coverage options, as a whole employers in this industry recognize the importance benefits packages can bring. Namely, all-inclusive social assistance employee benefits packages work hard to attract quality, experienced candidates, while retaining them for years to come.

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The scientific research and development services industry focuses on conducting research with the goal of developing new products or processes for a variety of fields. Life sciences, physical sciences, engineering, social sciences, and the humanities all benefit from the work done through this sector.

Employment is rising throughout this industry. Considering the expertise and experience required for this field, the best way to attract qualified candidates is through an extensive benefits package.As these employees are educated and skilled workers, competitive benefit packages can help to attract talented employees and lower turnover rates. Additionally, benefits can help to lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis. Some examples of this include student loan repayment, flexible work schedules are attractive and more creative mechanisms like FSAs, HSAs and similar products are likely to be used.

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The Scientific Research Industry Employment Summary

There are around 19,000 scientific research organizations nationwide, employing 751,000 professionals. On average, each business is mid-sized, with 40 staff members. This industry is split almost evenly between male and female employees, and the median employee age is 42 years old.

The Scientific Research Industry Insurance Benefits Comparison

What percentage of scientific research employers offer medical insurance?

• 87% of scientific research companies offer medical benefits to their employees. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,032 for family coverage. This is also above the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $433 for individual coverage. This is below the national average of $458.

What percentage of scientific research employers offer short and/or long-term disability insurance?

60% of employers offer both short-term and long-term disability protection. The national average is 42% and 34%, respectively.

What percent of scientific research employers offer life insurance?

75% of these companies offer life insurance, which is again above the national average of 56%.

Do scientific research employers provide access to paid family leave?

• 33% of scientific research companies provide access to paid family leave compared to the national average of 20%.
• Unpaid family leave is offered to 90% of these companies, compared to the slightly lower national average of 88%.
• Consolidated leave plans are used in 63% of these companies, compared to the national average of 44%.

Summary

All in all, the scientific research industry is above the national industry standard of providing comprehensive benefits packages to their employees. Employers in this field recognize that providing all-inclusive scientific research employee benefits is key to standing out as a differentiator to their competition, while also attracting top-notch and experienced candidates to their team. And as a result of these candidates getting their needs met, the employers will be able to retain them for years to come.

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The scenic and sightseeing transportation sub-sector provides entertainment and recreation via transportation equipment over both water and land. Common forms of scenic and sightseeing transportation include buses, cable cars, carriages, railways, steam trains, and trolleys.

This industry is all about the user experience; highly educated and trained staff are required to ensure that every aspect of that experience runs smoothly, from the engineer that operates the steam train to the landscaper that perfects the view. Companies looking to hire the best possible candidates will need to provide a benefits package to stand out as a differentiator from their competitors. Generally speaking, sightseeing tours employee benefits packages include access to health, vision, and dental insurance, paid time off, life insurance plans, disability coverage, and retirement savings.

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The Scenic and Sightseeing Tours Industry Employment Summary

There are only 3,000 scenic and sightseeing tour organizations nationwide, employing 30,000 professionals. On average, each business is small, with 10 staff members, and the median employee age is 44 years old.

The Scenic and Sightseeing Tours Industry Insurance Benefits Comparison

What percentage of scenic and sightseeing tour employers offer medical insurance?

• 84% offer access to medical insurance. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,219 for family coverage. This is in-line with the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $487 for individual coverage. This is just above the national average of $458.

What percentage of scenic and sightseeing tour employers offer short and/or long-term disability insurance?

50% of scenic and sightseeing tour employers offer short-term disability coverage, and 29% offer long-term disability insurance. The national average is 42% and 34%, respectively.

What percentage of scenic and sightseeing tour employers offer life insurance?

73% offer access to a life insurance plan. Comparatively, the national average is 56%.

Do scenic and sightseeing tour employers provide access to paid family leave?

• 10% provide access to paid family leave. The national average is 20%.
• 94% provide access to unpaid family leave. The national average is 88%.
• 24% offer consolidated leave plans. The national average is 44%.

Summary

All things considered, the scenic and sightseeing tours industry provides their employees with ample and all-inclusive employee benefits packages, as per the national industry standard. However, there is still some room for improvement, such as providing more long-term disability and paid family leave options to meet their employee’s needs. As soon as employers make these changes, they will see how comprehensive scenic and sightseeing tours employee benefits packages are key to standing out among a sea of competitors while attracting and retaining quality talent to their team.

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The software and technology development industry deals with the creation of applications that run on devices and systems; this can include computers, tablets, cell phones, smart systems, and everything in between.

As a direct result of our technologically-focused society, the need for talented and educated software developers is expected to increase an astounding 22% within the next eight years. This significant demand will place companies in a race to secure the best candidates for themselves rather than risk them going to the competition. With a complete benefits package, the ideal employees will come right to their door.

Since these employees are educated and skilled workers, competitive benefit packages can help to attract talented employees and lower turnover rates. Additionally, benefits can help to lower major healthcare utilization and therefore could see lower than average rates on a PM/PM basis. Some examples of this include student loan repayment, flexible work schedules are attractive and more creative mechanisms like FSAs, HSAs and similar products are likely to be used.

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The Software and Technology Development Industry Employment Summary

There are about 144,000 software and technology development organizations nationwide, employing over 1.8 million professionals. On average, each business tends to be on the smaller side, with 25 staff members. This is a male-dominated industry, with only 27% of employees identifying as female, and the median employee age is 42 years old.

The Software and Technology Development Industry Insurance Benefits Comparison

What percentage of software and technology development employers offer medical insurance?

• 87% of software and technology development companies offer medical benefits to their employees. This is well above the national average of 69%.
• These businesses provide an average monthly employer premium of $1,032 for family coverage. This is also above the national average of $1,121.
• Additionally, they provide an average monthly employer premium of $433 for individual coverage. This is below the national average of $458.

What percentage of software and technology development employers offer short and/or long-term disability insurance?

60% of employers offer both short-term and long-term disability protection. The national average is 42% and 34%, respectively.

What percent of software and technology development employers offer life insurance?

75% of software and technology development companies offer life insurance, which is again above the national average of 56%.

Do software and technology development employers provide access to paid family leave?

• 33% of software and technology development companies provide access to paid family leave compared to the national average of 20%.
• Unpaid family leave is offered to 90% of software and technology development companies, compared to the slightly lower national average of 88%.
• Consolidated leave plans are used in 63% of software and technology development companies, compared to the national average of 44%.

Summary

As a whole, the software and technology development industry stands above the national industry standard for providing comprehensive benefits packages to their employees. There is some room for improvement, such as providing higher employer premiums for individual and family coverage, which employers can change to meet national guidelines. Once these changes are made, employers in this industry will realize how important all-inclusive employee benefits for software and technology development professionals are for attracting and retaining top talent for years to come.

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