The voluntary benefits gaining the most traction with Gen Z and Millennial employees include mental health support, student loan assistance, financial wellness tools, pet insurance, identity theft protection, and family-building benefits.
What are voluntary benefits?
Voluntary benefits are optional perks and coverages employees can elect, often at their own cost or partially subsidized by the employer, on top of core health insurance. They're a common way for employers to round out a benefits package without significantly increasing the cost of core medical coverage.
Why does this matter more for Gen Z and Millennial employees specifically?
Younger employees are, on average, earlier in their careers and lives, which shapes what benefits feel most relevant to them. Many are managing student debt, saving for a first home, or just starting to build financial habits, priorities that look different from an employee closer to retirement. Employers who only offer traditional benefits (medical, dental, vision, a retirement plan) risk missing what this part of the workforce actually values day to day.
What voluntary benefits are gaining traction?
Mental health support. Access to therapy, coaching, or wellness apps, often through an Employee Assistance Program (EAP) or a dedicated mental health benefit, is consistently one of the most requested additions.
Student loan assistance. Employer contributions toward student loan repayment, or tools that help employees manage and refinance existing debt.
Financial wellness tools. Budgeting apps, financial coaching, or access to a financial advisor, helping employees build habits beyond just a retirement account.
Pet insurance. A relatively low-cost voluntary benefit that's become popular given how many younger employees have pets and treat them as part of the family.
Identity theft and cybersecurity protection. As more of daily life happens online, protection against identity theft has become a valued, low-cost addition.
Flexible or expanded PTO policies. While not always a formal "voluntary benefit" in the traditional sense, flexible time off policies are frequently cited by younger employees as a top factor in job satisfaction.
Family-building benefits. Coverage or reimbursement support for fertility treatment, adoption, or surrogacy, which matters to employees at various life stages, not only those with children already.
How should employers decide what to add?
Rather than adding every trending benefit, it's worth asking employees directly what they'd actually use through a survey, and looking at what's realistic given your budget and how it complements your core plan. A benefit only helps retention if people actually know about it and use it, so pairing any new addition with clear communication matters as much as the benefit itself. Some employers address this by centralizing everything, core benefits, voluntary options, and education, into a single app or portal (Bennie's app is one example) so employees have one place to see and use what's available, rather than a benefit getting buried in a PDF nobody opens.
Building a Benefits Package That Resonates
Voluntary benefits are one of the more cost-effective ways to make a benefits package feel modern and relevant to a younger workforce, but the right mix depends on what your specific employees actually want, not what's trending industry-wide.
About Bennie
Bennie is a modern employee benefits firm dedicated to transforming how employers design, manage, and deliver benefits. By combining world-class brokerage services with user-friendly technology, Bennie helps organizations lower costs and streamline administration while giving employees a centralized platform to navigate their healthcare. Headquartered in New York City, Bennie is licensed in all 50 states.
