Editor’s Note: This story originally appeared on Smartest Dollar.
The COVID-19 pandemic brought a number of abrupt changes to the U.S. economy, but some of the most lasting impacts could be in the future of work. From the rise of hybrid and remote work to the Great Resignation and “quiet quitting,” workers have been renegotiating how they work and what they look for in a job over the last 2½ years.
And amid continued tightness in the labor market, employers have been forced to respond and make jobs more appealing to current and potential employees. The Great Resignation is perhaps the most significant trend demonstrating workers’ increased power and mobility since the COVID-19 pandemic began.
While the Great Resignation has affected all industries and income levels, turnover has been most concentrated in low-wage sectors. Fields like retail and hospitality have seen a disproportionate share of the country’s job turnover in the last two years, with workers frequently citing difficult working conditions and low, stagnant wages as a reason for moving on to new roles. These fields are also least likely to offer key benefits like health insurance, paid time off, and flexible work arrangements — all of which took on new importance during the pandemic.
Workers seeking out benefits in their hunt for better jobs and working conditions may need to look in certain industries to find the employers who are most likely to offer benefits.
To determine which industries offer the best employee benefits, researchers at Smartest Dollar — an organization that reviews commercial insurance and other business products — calculated a composite score that equally weighted the percentage of private industry workers with access to paid holidays and paid vacation, life insurance, health insurance, retirement plans, paid family leave, and flexible hours. In the event of a tie, the industry with the greater percentage of private industry workers with access to paid holidays and paid vacation was ranked higher.
The data used in this analysis is from the U.S. Bureau of Labor Statistics.
Here are the U.S. industries offering the best employee benefits.
14. Leisure and hospitality
- Composite score: 5.1
- Paid holidays and vacation: 29%
- Life insurance: 17%
- Health insurance: 32%
- Retirement plans: 31%
- Paid family leave: 10%
- Flexible hours: 10%
13. Administrative and support and waste management and remediation services
- Composite score: 16.7
- Paid holidays and vacation: 65%
- Life insurance: 31%
- Health insurance: 54%
- Retirement plans: 43%
- Paid family leave: 13%
- Flexible hours: 10%
12. Retail trade
- Composite score: 23.1
- Paid holidays and vacation: 64%
- Life insurance: 41%
- Health insurance: 53%
- Retirement plans: 73%
- Paid family leave: 24%
- Flexible hours: 6%
11. Construction
- Composite score: 23.1
- Paid holidays and vacation: 75%
- Life insurance: 49%
- Health insurance: 75%
- Retirement plans: 63%
- Paid family leave: 12%
- Flexible hours: 5%
10. Real estate and rental and leasing
- Composite score: 33.4
- Paid holidays and vacation: 84%
- Life insurance: 60%
- Health insurance: 72%
- Retirement plans: 61%
- Paid family leave: 17%
- Flexible hours: 14%
9. Transportation and warehousing
- Composite score: 35.9
- Paid holidays and vacation: 86%
- Life insurance: 69%
- Health insurance: 85%
- Retirement plans: 80%
- Paid family leave: 9%
- Flexible hours: 4%
8. Educational services
- Composite score: 37.2
- Paid holidays and vacation: 55%
- Life insurance: 69%
- Health insurance: 73%
- Retirement plans: 72%
- Paid family leave: 30%
- Flexible hours: 11%
7. Health care and social assistance
- Composite score: 51.3
- Paid holidays and vacation: 84%
- Life insurance: 63%
- Health insurance: 78%
- Retirement plans: 74%
- Paid family leave: 29%
- Flexible hours: 15%
6. Wholesale trade
- Composite score: 62.8
- Paid holidays and vacation: 93%
- Life insurance: 69%
- Health insurance: 89%
- Retirement plans: 83%
- Paid family leave: 25%
- Flexible hours: 14%
5. Manufacturing
- Composite score: 68.0
- Paid holidays and vacation: 94%
- Life insurance: 80%
- Health insurance: 90%
- Retirement plans: 84%
- Paid family leave: 23%
- Flexible hours: 11%
4. Information
- Composite score: 73.1
- Paid holidays and vacation: 89%
- Life insurance: 78%
- Health insurance: 87%
- Retirement plans: 78%
- Paid family leave: 51%
- Flexible hours: 34%
3. Professional, scientific, and technical services
- Composite score: 78.2
- Paid holidays and vacation: 91%
- Life insurance: 74%
- Health insurance: 89%
- Retirement plans: 85%
- Paid family leave: 41%
- Flexible hours: 46%
2. Utilities
- Composite score: 87.2
- Paid holidays and vacation: 99%
- Life insurance: 98%
- Health insurance: 99%
- Retirement plans: 98%
- Paid family leave: 49%
- Flexible hours: 11%
1. Finance and insurance
- Composite score: 92.3
- Paid holidays and vacation: 97%
- Life insurance: 90%
- Health insurance: 94%
- Retirement plans: 93%
- Paid family leave: 50%
- Flexible hours: 38%
Methodology
The data used in this analysis is from the U.S. Bureau of Labor Statistics’ 2022 Employee Benefits Survey and Job Openings and Labor Turnover Survey. To determine which industries offer the best employee benefits, researchers at Smartest Dollar calculated a composite score that equally weighted the percentage of private industry workers with access to:
- Paid holidays and paid vacation
- Life insurance
- Health insurance
- Retirement plans
- Paid family leave
- Flexible hours
In the event of a tie, the industry with the greater percentage of private industry workers with access to paid holidays and paid vacation was ranked higher.
