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The government services industry is made up of more than two million civilian workers employed by the U.S. federal government. This makes the federal government the nation’s largest employer, and as ninety percent of employees live and work outside of Washington D.C., this vast and multi-faceted industry is distributed across the entire country.
Food scientists, teachers, lawyers, web developers, translators, civil engineers, public transit operators, legislators, and epidemiologists are just a few of the hundreds of types of essential occupations to be found in the public sector. The civil servants working these jobs require reliable and comprehensive benefits so they can focus on keeping the country running smoothly and safely. Generally speaking, government entities traditionally offer very rich benefits, which come within a RFP situation for insurance carriers. Typically, these organizations have high requirements to participate for insurance carriers which usually leads to only several plans bidding.
30% of government service organizations offer short-term disability insurance, and 34% provide access to long-term disability insurance. The national average for these metrics is 42% and 34%, respectively.
84% of financial security and commodity firms offer life insurance coverage. This is well above the national average of 56%.
Generally, the government services industry is above the national average of providing comprehensive government service employee benefits. However, there is a large opportunity to “sweeten the pot” and add a type of retirement savings opportunity. Doing so will work in many employer’s favor when it comes to standing out as a differentiator to their competition while attracting and retaining top-quality candidates.
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