In today’s competitive job market, employers need to be willing to offer competitive benefits packages to both entice new employees and retain existing ones. In fact, according to one report, 78% of employees reported they are more likely to stay with an employer because of their benefits program.
To get a better understanding of which industries offer the best benefits, we looked at the latest data from the Bureau of Labor Statistics, focusing on 20 different benefits across 16 industries. Based on the percentage of companies within an industry that offer an individual benefit, we then assigned the industry a score between 1 and 5.
Based on a score out of 100 (up to five points per benefit), here’s how the different industries fared based on our calculations:
Industry | Total Score (100) |
Finance and Insurance | 92.33 |
Utilities | 85.87 |
Information | 79.98 |
Professional, Scientific, and Technology | 74.68 |
Manufacturing | 67.92 |
Elementary and Secondary School (Public) | 62.33 |
Wholesale Trade | 56.73 |
Elementary and Secondary School (Private) | 54.98 |
Healthcare | 54.09 |
Professional and Business Services | 51.16 |
Goods Producing | 44.98 |
Transportation and Warehousing | 44.10 |
Real Estate, Rental, and Leasing | 38.52 |
Retail Trade | 30.86 |
Construction | 23.22 |
Leisure and Hospitality | 19.73 |
Accommodation & Food Services | 18.24 |
Industries with the Best Benefits
Finance & Insurance
The finance and insurance industry has the best benefits overall, scoring 92.33 points out of 100. This industry scored highly for all 20 benefits, coming in either first or second for 14 of the 20 included. Some of the benefits offered by more companies in this industry than any other include access to wellness programs (79%), access to employee assistance programs (84%), and access to student loan repayment (12%).
Utilities
The utilities industry also scored well overall, earning 85.87 points out of 100. This industry, which includes providers of water, power, and gas services, scored highly for a number of benefits, coming in first for access to paid vacation (100%), access to paid sick leave (100%), and access to all retirement benefits (99%).
Information
The information industry, which includes publishing, broadcasting, motion pictures, and telecommunications, came in third, with a total of 79.98 points out of 100. The information industry came in first for access to childcare (32%), while also scoring highly for access to subsidized commuting (25%) and access to paid personal leave (76%).
Most Popular Benefits Across All Industries
Benefit | Average |
Access to Paid Sick Leave | 82.1% |
Access to Healthcare Benefits | 78.5% |
Access to Paid Holidays | 78.1% |
Access to All Retirement Benefits | 76% |
Access to Paid Vacation | 71.4% |
Access to Life Insurance Plans | 65.4% |
Access to Employee Assistance Programs | 58.6% |
Access to Paid Personal Leave | 53.2% |
Access to Nonproduction Bonuses | 47.6% |
Access to Wellness Programs | 46.4% |
Access to Financial Planning | 25.6% |
Access to Retiree Healthcare at 65 and Over | 21.8% |
Access to Flexible Work Schedule | 15.6% |
Access to Childcare | 11.6% |
Access to Felxible Workplace | 10% |
Access to Subsidized Commuting | 9.7% |
Access to Student Loan Repayment | 5.1% |
Benefit | Average Number of Days |
Paid Sick Leave | 30.3 |
Paid Holidays | 8.1 |
While some industries fared better than others, the overall popularity of benefits across all industries helps shed light on the current state of benefits packages. Unsurprisingly, benefits like paid sick leave (82.1%), access to healthcare benefits (78.5%), and access to paid holidays (78.1) lead the way, while niche benefits like access to childcare (11.6%), access to flexible workplace (10%), and access to student loan repayment (5.1%) remain somewhat low.
But will this have to change if businesses want to attract and keep new employees?
The answer is a resounding ‘yes,’ especially for businesses that are currently or will soon become reliant on Generation Z workers, who will represent 27% of the workforce by 2025.
Benefits Needed to Attract and Retain Younger Employees
According to studies, while benefits are still important for attracting and retaining Gen Z employees, many traditional benefits may not be enough. Gen Z, who has been found to value things like flexibility and work-life balance, may need more incentives from businesses if they are to be retained.
To get a better understanding of what businesses may need to do to attract younger employees, we spoke with Jon Morgan, CEO of Venture Smarter.
“Benefits have become a paramount factor not only in attracting top talent but also in retaining them for the long haul,” says Morgan. “While a good salary is important, employees are increasingly focused on the full benefits package. Offering things like robust healthcare, retirement plans, and flexible work arrangements is now expected. These perks show that the company values its employees beyond just their work output and is committed to their long-term well-being, which helps boost retention and morale.”
“While [younger generations] still care about traditional offerings like health insurance, they’re also seeking more modern, tailored benefits. Flexibility is a major priority—remote work options, flexible schedules, and wellness programs are particularly appealing. They also appreciate financial support that addresses their specific needs, such as student loan assistance or development stipends. Overall, they’re drawn to benefits that match their lifestyle and values, and companies that offer this kind of alignment are more likely to keep them engaged.”
No matter what industry you may be in, comprehensive benefits packages are beneficial to employers and employees alike. Not only do benefits enable employees to have more balance in their lives, but it also ensures businesses can retain their workers, preventing unneeded costs. Businesses should also consider providing their employees with tools to help them do their jobs more effectively, like our advanced features that enable customer service employees to connect and serve customers all over the world. Explore some of these features to learn more.
Methodology
We used data from the Bureau of Labor Statistics to learn the percentage of companies in individual industries offer 20 different benefits. Using these figures, we awarded each industry a score between 1 and 5 per benefit based on where it fell in the rankings. These scores were then tallied across all 20 benefits for total possible score out 100.
To determine the average number of businesses that offer a benefit across all industries, we averaged the individual industry scores per benefit.