6 Strategies for Creating Employee Benefits That Stand Out

Andrea Wright, CPA Partner, Johnson Lambert LLP
Trends in Accounting, Auditing, and Consulting

In an increasingly competitive talent market, a firm’s benefits package can make or break its recruitment efforts. As today’s workforce continues to evolve, so do employee expectations, and the role of employee benefits has taken on new significance in a candidate’s job search. According to recent data from Indeed’s Hiring Lab, more than 59% of the postings on the job search engine’s website now advertise at least one employer-provided benefit, up from less than 40% in early 2020.

Employers who understand this shift are leading the charge, not just in pay, but in creating comprehensive benefits that offer far more than traditional health, retirement, and leave packages and instead reflect a more holistic view of employee well-being.

Here are six employee benefit strategies that are helping firms attract and retain top-tier accounting talent.

1. THINKING OUTSIDE THE BOX

As candidates place greater emphasis on the benefits component of total compensation, firms who want to stand out are thinking outside the box, offering unique and uncommon benefits. For instance, employers offering student loan assistance, caregiving resources, and grandparent leave are finding themselves more attractive to job seekers. It’s been reported that companies that offer more innovative benefits also enjoy lower turnover rates and higher profit margins, demonstrating the financial and cultural advantages of leading with a strong benefits package.

2. MEETING THE NEEDS OF A MULTIGENERATIONAL WORKFORCE

Employers are also adapting their benefits strategies to meet the unique needs of different generations. By offering more personalized and customizable options to different age groups, firms can attract specific talent and cultivate a workforce that feels supported on multiple levels.

For example, millennials, now well into their careers, are seeking benefits that support family planning and work-life balance (e.g., parental leave, student loan repayment programs, and financial planning resources). Meanwhile, Gen Z is redefining the workplace with a focus on diversity, equity, and inclusion, as well as alternative health benefits. This younger generation values benefits that support a holistic well-being, including mental health services, nutrition programs, and even naturopathic medicine.

3. PRIORITIZING HEALTH AND WELLNESS

A healthy workforce is a productive workforce, and companies are increasingly aware of this reality. As such, there’s a growing emphasis on maintaining employees’ health through a combination of chronic condition management, mental health resources, and wellness incentives. These initiatives go beyond basic healthcare, reflecting a broader understanding of employee needs. From wellness stipends to mental health programs and even naturopathic treatments, employers are responding to the rising demand for benefits that support physical, mental, and emotional well-being. In addition, benefits that support sleep health and alternative therapies are on the rise, which are especially valued among younger employees. These offerings have also become a popular way to encourage healthy habits, including fitness, nutrition, and mindfulness.

4. PROVIDING VOLUNTARY BENEFITS FOR PERSONAL AND FINANCIAL SECURITY

Offering a diverse array of voluntary benefits has also become a key differentiator for firms looking to stand out. These include services like ID theft protection, legal assistance, and discount purchase programs—benefits that are particularly attractive to a well-paid, financially savvy workforce.

Additionally, companies are strengthening their offerings in life and disability insurance, sometimes extending voluntary individual disability options to enhance existing coverage. These moves align with employees’ growing interest in securing their financial future through employer-sponsored benefits.

5. RETHINKING RETIREMENT PLANNING

Retirement savings remain a cornerstone of benefits packages, with most employers offering 401(k) plans, often with competitive employer matches. According to SHRM’s 2024 Employee Benefits Survey, 6.6% and 6.5% were the average employer matches on traditional 401(k) and Roth 401(k) contributions in 2024, respectively. While the prevalence of these plans has stabilized, there’s a clear shift in expectations of them as employees are increasingly looking for flexibility and security in their retirement planning. For example, more companies are offering Roth 401(k) options, which is up 10 percentage points since 2020.

However, while employers continue to provide formal retirement savings programs, fewer are offering retirement planning or investment advice. This decline points to an opportunity for firms to rethink their financial wellness offerings, potentially enhancing their benefits packages with educational resources that guide employees toward long-term financial success.

6. FOCUSING ON FLEXIBILITY AND FAMILY CARE BENEFITS

Workplace flexibility is no longer a perk—it’s an expectation. Employees are increasingly seeking work arrangements that allow them to balance their personal and professional lives, and employers who meet these demands are seeing improved retention and employee satisfaction. Notably, SHRM’s survey finds 70% of employers are prioritizing flexible work policies for the third consecutive year, with 63% offering hybrid work models.

Beyond flexibility, family care benefits are gaining traction as companies recognize their role in supporting employees’ work-life balance. Companies are also introducing innovative benefits like grandparent leave, caregiving resources, and other family-focused offerings that go beyond the traditional Family and Medical Leave Act requirements.

As the world of work continues to evolve, so too will the expectations of employees. Benefits have become more than a mere checkbox for job seekers; they’re a reflection of a firm’s values and its commitment to supporting its employees—not just in their professional roles, but in their personal lives as well. Firms who anticipate and meet these changing needs will find themselves well-positioned to succeed in this highly competitive talent market.

Related Content:

• Why CPA Firms Should Prioritize Employees’ Mental Health: Promoting mental health services as an employee benefit provides CPA firms with an abundance of positive benefits, including talent retention.
• How Organizations Can Embrace Workplace Wellness: The pandemic has highlighted the importance of mental health, physical health, and healthy boundaries—here’s what organizations can do to promote wellness in the workplace.