For leading consulting firms, stellar employee benefits are nothing new. It has quickly become an industry standard to offer competitive compensation, comprehensive total rewards, and exciting opportunities for career advancement.
As an HR or benefits professional, you might be wondering - how can I continue to build my employer brand, and make my world-class benefits program stand out from the crowd?
Consulting firms are now offering increasingly generous benefits to attract the best employees and keep them loyal, too.
Here are the top 5 benefits every consulting firm can offer this year to stay competitive.
1. Financial Wellbeing
If one benefit could promote employee health, lower turnover, reduce absenteeism and presenteeism, all while raising employee satisfaction and elevating your brand as an employer, it would be a no-brainer, right?
Offering an modern financial wellbeing benefit has these proven results - especially for consulting firms where many employees are incredibly educated and have high earning potential, yet often struggle when it comes to their personal finances and paying down debt.
Top consulting firms are partnering with financial wellbeing programs that blend digital education, interactive tools and access to Financial Advisors to offer trustworthy guidance at scale.
Financial wellbeing programs like LearnLux can help employees:
- Make a strategy for paying down student debt
- Financially plan for big life events like starting a family or buying a home
- Prepare for the future with retirement readiness and estate planning tools
- And so much more
Programs that blend interactive digital tools with access to unbiased Certified Financial Planner™️ professionals are the gold standard. Rolling out these benefits will also be a breeze. Modern programs are fast to set up and drive employee engagement right out of the gate. This allows benefits managers to easily start promoting the benefit to current employees and to prospective hires as a part of their total rewards package.
2. Fertility Benefits
Fertility benefits are incredibly powerful when it comes to attracting and retaining employees that plan to start or grow their families. Offering competitive fertility benefits can support team members' health finances on their journey to parenthood. With a long-term talent acquisition and retention strategy in mind, fertility benefits are becoming the gold standard at consulting firms today.
3. Generous Vacation Time
Consulting firms know that their industry requires hard work and long hours. Employees consistently rate vacation time as the best benefit at their workplace, so savvy employers are looking to time off as a key program to differentiate. Many entry-level consulting firm employees start with as much as five weeks of paid time off, which is well above the average for employees nationwide. Consulting firms are looking to generous PTO as a way to attract and retain the best talent in their space.
4. Mental Health
Mental health perks help employees manage stress, develop new mental skills, provide health support & counseling, and deliver personal development programs for everyone ranging from couples, teams, and executives. In our increasingly stressful world today, top consulting firms are bringing on powerful mental health benefits to support their workforce both on and off the clock.
5. Caregiving benefits
Planning and affording caregiving services like dependent care can be one of the biggest challenges your employees face during their workdays, and that’s saying a lot when you work at a consulting firm. Making work-life balance a little bit easier for caregivers is an impactful way to show your support and build your employer brand. Whether you offer on-site childcare centers or programs to help offset the costs for working caregivers, offering a caregiving benefit shows that you understand and appreciate your employees’ ongoing balancing act.
Adding new, impactful benefits programs will help take consulting firms like yours into the future. Beyond short-term competitive advantage, these benefits will strengthen your employer brand and promote health and happiness in your team.