Public-sector benefits rule, according to employees.
A Gallup poll asked both public- and private-sector workers how satisfied they are with 13 different aspects of their jobs. And according to data from the last five years of Gallup’s annual “Work and Education” poll, there’s a measurable difference when it comes to satisfaction with retirement plans and other benefits.
They’re pretty much on a par with each other when asked how satisfied they are with a number of job aspects, with percentages varying only slightly. For instance, 91 percent of workers in each category — both public and private — said they were either completely or somewhat satisfied with the physical safety of their workplace.
Sixty-nine percent of public-sector workers said they were completely or somewhat satisfied with chances for promotion, compared with 66 percent of private-sector workers, while the public sector actually did worse in such areas as flexibility of hours (85 percent of public-sector employees, compared with 87 percent of private-sector), recognition of work accomplishments (76 percent of public-sector employees vs. 79 percent of private-sector) and the amount of on-the-job stress (64 percent of public-sector employees, vs. 67 percent of private-sector).
But when it comes to benefits, especially retirement plans, all that changes. Eighty-two percent of government employees are happy with their retirement plans, compared with just 57 percent of private-sector workers — a difference of 25 percentage points. Health insurance benefits are similarly highly rated by the public-sector folks, at 80 percent, compared with, again, 57 percent of private-sector workers. And vacation time pleases them more, too, with 91 percent of public-sector workers saying they’re happy with it compared with 74 percent of the private sector.
Gallup said in the study that “a federal advisory body found last year that, on average, federal government employees earn more than a third less than their private-sector counterparts, but these data show that government employees are just as satisfied, on average, with their pay as are private sector workers.”
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