Industry Benefits Summary

Administrative and Support Services Field-Employee Benefits Summary

The Administrative and Support Services industry is expected to grow a whopping 20% by 2022. This is due in part to the rapid globalization of businesses and the introduction of new product offerings and advanced technologies into the workforce. This shows that there will be more of a demand for traditional administrative and support services in businesses of all sizes, no matter their industry.

A growing market like this requires a comprehensive set of employee benefits to both attract and retain the best administrative talent. Any business owner will need to provide medical, dental, and vision insurance, with disability, life insurance, and paid time off to appeal to top candidates.

Typically skilled workers, competitive benefit packages can help to attract talented employees; lower turnover rates, and 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 FSA's, HSA's and similar products are likely to be used.

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The Administrative and Support Services Employment Summary

There are more than 32,000 administrative and support service companies in the United States. Of this number, there are 811,249 employees, with an average of 25 employees per business. The administrative industry is predominantly female, and the median age of each employee is 42 years.


Administrative and Support Services Insurance Benefits Comparison

50%

What percent of administrative and support services companies offer medical insurance?

  • 50% of administrative companies offer medical benefits to their employees. This is well below the national average of 69%.
  • The average flat monthly employer premium for family coverage is $955. The national average is $1,121.
  • The average flat monthly employer premium for single coverage is $406, with the national average being $458.

21%

What percent of administrative and support services companies offer short and/or long-term disability insurance?

21% of administrative companies offer access to short-term disability plans, well under the national average of 42%. Additionally, 14% provide long-term disability insurance, when the national average is 34%.

30%

What percent of administrative and support services companies offer life insurance?

30% of administrative companies offer life insurance, which is again below the national average of 56%.

8%

Do administrative and support services companies provide access to paid family leave?

  • 8% of administrative services companies provide access to paid family leave compared to the national average of 20%.
  • Unpaid family leave is offered at 79% of administrative services companies, compared to the national average of 88%.
  • Consolidated leave plans are used in 36% of administrative services companies, compared to the national average of 44%.

Summary

The administrative and support services industry falls well below the national average when it comes to providing their employees with an up-to-date and comprehensive benefits package. Employee benefits are a huge factor in retaining valuable talent, so all administrative and accounting companies need to take some time to evaluate their offerings and invest in competitive insurance administrative services employees can count on.

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