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