Industry Benefits Summary

Data Processing and Hosting Services Industry- Employee Benefits Summary

The data hosting and processing service industry is a subsector of the larger Information sector. These organizations are responsible for producing and distributing different channels of communication, as well as accurately handling and preparing data.

Businesses in the data hosting and processing service industry include software publishing services, broadcasting, telecommunications, web search portals, and information services. With more and more businesses choosing to run their operations online, this industry is expected to grow on an average of 3.5% year over year for the next 5 years. As a result, there is a need for quality employees to commit to this expansion with experience and ease.

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.

How do your benefits compare to other Data Hosting and Processing companies?
Download Your Custom Benefits Report Now

The Data Hosting and Processing Industry Employment Summary

There are about 30,000 data hosting companies across the nation, employing 828,000 individuals. Businesses in this industry tend to be mid-sized, with an average of 28 employees each. 44% of their employees identify as female, and the median age of each worker is 40 years old.

Data Hosting and Processing Service Industry Benefits Comparison

86%

What percent of data hosting companies offer medical insurance?

  • A full 86% of data hosting 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.

75%

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

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

79%

What percent of data hosting companies offer life insurance?

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

47%

Do data hosting 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

Overall, the data processing and hosting services industry offers extremely competitive benefits, that are well above the general industry standard nationwide. There is only one metric, retirement benefits, that companies in this industry can improve upon. But even still, they currently stand right under the national average, so they don’t have much to improve upon. But when they do, business owners can expect an influx of quality, experienced employees ready to add value and expertise to their teams.

Next Up

How Does Your 401k Offering Stack Up To Other Employers?
Given their prominent position that 401ks hold in the context of modern workforce management, a closer look at some of the surrounding issues can help ensure that your organization’s offerings remain viable relative to the other employers with which you are competing for talent.
The CFO Role: Less Accounting & More Strategy - Including People Strategy
A look at the state of finance departments across US companies over the last few years reveals an interesting mix of stability and change.
The Market Employment Summary for February 2024
Each month, Mployer Advisor breaks down the Bureau of Labor Statistics’ most recent State Employment and Unemployment Summary to highlight some employment trends across various markets. This is an overview of February’s report.