Industry Benefits Summary

Scientific Research Industry- Employee Benefits Summary

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

87%

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.

60%

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.

75%

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%.

33%

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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