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The utility sector deals with establishments that provide utility services such as electric power, natural gas, steam supply, water supply, and sewage removal. The activities that each of these services are associated with depends on the utility itself. For example, sewage removal involves the collection, treatment, and disposal of waste through a sewer system while natural gas focuses primarily on distribution.
The main occupations within the utility industry are technically-based; electrical engineers, powerline installers, and control and valve repairers all require a level of training and education that is uncommon in most people. Businesses that want to stay ahead of the competition will need to provide an extensive benefits package to meet their employee’s needs. For example, a higher amount of physical labor in this industry can result in an increased number of workers comp claims and higher overall medical expenses, making access to quality short and long term disability plans important. Additionally, there’s a higher percentage of males in the industry who place importance on access to employer sponsored healthcare and a 401K match.
There are about 19,000 utility facilities nationwide, employing 645,000 professionals. On average, each business is mid-sized with 34 staff members. This is a male-dominated industry, with only 21% of employees identifying as female, and the median employee age is 45 years old.
59% of utility employers offer short-term disability coverage, and 91% offer long-term disability insurance. The national average is 42% and 34%, respectively.
96% offer access to a life insurance plan. Comparatively, the national average is 56%.
The Utilities industry does extremely well in providing their employees comprehensive benefits plans, compared to the national industry standard. There is one metric, offering consolidated leave plans, that has some room for improvement, but as a whole, employers in this industry provide benefits that meet all of their employee’s basic needs.
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