Industry Benefits Summary

Postal Service Industry- Employee Benefits Summary

The postal service industry differs from the couriers and messengers sub-sector due to its expansive infrastructure and universal service obligation to provide mail delivery services. Employees include first-line supervisors, clerks, mail carriers, sorters, machine operators, and postmasters.

Unfortunately, the novel coronavirus has negatively impacted this vital industry; employment rates are expected to drop a staggering 14% in the next eight years. Businesses will need to offer excellent postal service employee benefits to workers handling the nation’s letters and packages.This usually includes access to medical, dental, and vision insurance, disability coverage, paid time off, a life insurance plan, and a retirement savings account.

As a whole, government entities traditionally offer very rich benefits and comes within a RFP situation for carriers. They have high requirements to participate for insurance carriers which usually leads only several plans bidding.

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The Postal Service Industry Employment Summary

The Postal Service Industry Insurance Benefits Comparison

84%

What percentage of postal service 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.

50%

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

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

73%

What percentage of postal service employers offer life insurance?

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

10%

Do postal service 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

As a whole, the postal service industry provides its employees extensive employee benefits, comparable to the national standard. However, there still is some room for improvement, such as providing more long-term disability coverage and paid family leave options to meet their employee’s needs. Once these upgrades are made, employers will recognize how employee benefits packages are key to attracting and retaining top-quality and experienced candidates to their teams.

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