Withum is a medium-sized public accounting and consulting firm with offices across the Eastern seaboard and with 108 employees in New York City. The NYC staff ranges in age from 21 to 81.
This firm does many things right when it comes to retaining their multigenerational workforce.
They offer great benefits, including a shadow stock program, a budget for personal technology, a hardship relief fund, and a wellness program that reduces their premium expense if they take enough preventative actions for their health.
Several monetary awards are available to employees for high performance, from Withum Bucks, which give instant recognition to everyone except partners for a job well done, to the Gotcha Award, a $250 prize that a partner can give to an employee for exceptional work.
In 2017, Withum instituted a seven-day flextime arrangement for the whole firm. Employees must put in 40 hours a week, but where and when they work those hours is up to them. Senior managers and prinicipals also receive unlimited paid time off.
Withum has a career-coaching program and a structured and clear path to advancement, with specific criteria outlined to achieve each level, such as number of billable hours, amount of business garnered, and mentorship abilities. The firm also invests heavily in staff development, with training on leadership skills, business development and becoming a trusted advisor. A continuing education program lets employees get credit toward their CPA licensure, and the company also pays for the license exam and review classes. Tuition reimbursement of up to $15,000 over a lifetime is offered for coursework related to accounting, as well.