Employee benefits are any kind of perks or compensation that go beyond an employee’s base salary. These might come in the form of insurance, leave entitlements, or even wellness programmes. In Singapore's fast-paced job market, offering the right mix of benefits isn't just good practice—it's crucial to attracting and retaining the right talent.
If you’re reviewing or building a benefits package, this guide breaks down the essentials. You’ll find examples of what’s commonly offered in Singapore, why it matters, and how to make sure your benefits actually support your people.
What are employee benefits?
Employee benefits are non-wage compensations provided to staff. These can be legally required or offered voluntarily by your business. Some of the most common include health insurance, retirement contributions, paid leave, and flexible work options. Benefits can help you compete for talent, improve employee morale, and shape a strong company culture.
Why employee benefits matter to your business
- Improved employee morale and job satisfaction: When people feel taken care of, they tend to feel more satisfied with their job. Offering benefits that meet your employees’ real needs shows that you care—something that goes a long way in keeping them motivated.
- Attraction of top employees: In a competitive hiring environment, benefits can tip the scales. Candidates often compare offers based on perks like annual leave, flexibility, or healthcare. Having strong employee perks and incentives can help you stand out.
- Increased productivity and engagement: Employee benefits that support physical and mental wellbeing—like sick leave or wellness days—help employees stay healthy, focused, and engaged. The result? Fewer sick days and stronger day-to-day performance.
- Enhanced company culture and employer branding: Your benefits also say a lot about your brand. Whether you want to be seen as innovative, supportive, or people-first, the perks you offer help bring those values to life in a practical way.
What are some of the best employee benefits to offer?
To attract and retain top talent, companies in Singapore are moving beyond basic compliance and offering benefits that meaningfully support employee wellbeing and career growth. Here are some of the most valuable and sought-after employee benefits to consider:
Health and Medical Insurance
A solid healthcare package remains a cornerstone of any competitive benefits programme.
- Comprehensive health coverage: Go beyond basic GP visits and hospitalisation. Consider coverage for specialist consultations, outpatient treatments, and chronic care management.
- Dental and optical coverage: Often overlooked, these are high-value add-ons—especially important for roles that involve long screen time or client-facing responsibilities.
- Disability and life insurance: Offering protection in case of unexpected illness, injury, or loss, these benefits show long-term care and are especially appreciated by employees with families.
Tip: Offering tiered healthcare plans can help cater to employees at different life stages or seniority levels.
Retirement and Financial Planning
All employers in Singapore contribute to the Central Provident Fund (CPF), but the most forward-thinking companies go further.
- Supplementary retirement schemes: Options like the Supplementary Retirement Scheme (SRS) or matching contributions to private investment plans can enhance long-term financial security.
- Financial wellness programmes: Budgeting tools, access to financial advisors, and investment education empower employees to make informed choices about their future.
Paid Leave That Supports Real Life
While statutory leave is the baseline, companies that want to support holistic wellbeing offer more generous and personalised options.
- Annual leave: Start with a baseline of at least 14–18 days and increase with tenure. Consider additional leave for mental wellness.
- Sick leave: Offering more days than the legal minimum helps reduce presenteeism and supports recovery.
- Parental and caregiver leave: Extending maternity, paternity, or family care leave shows that your organisation values family and life outside of work.
- Other leave types: Compassionate, marriage, study, or birthday leave—these small gestures go a long way in showing empathy and care.
Flexible Work Arrangements
Work flexibility has become a key differentiator in today’s talent market.
- Remote and hybrid work options: Enabling autonomy improves trust and work–life balance.
- Flexible start and end times: Particularly useful for working parents, caregivers, or those with long commutes.
- Work-from-anywhere days: Giving employees location flexibility, even a few times a month, can boost satisfaction and loyalty.
Wellness and lifestyle benefits
Supporting the physical and mental health of your team is no longer optional—it’s expected.
- Gym memberships or wellness allowances: Offer monthly stipends or access to on-site fitness classes.
- Mental health support: Subsidised therapy sessions, Employee Assistance Programmes (EAPs), or mindfulness apps show a commitment to emotional wellbeing.
- Wellness days and health screenings: Encourage employees to take preventive action and prioritise their health.
Tip: Wellness initiatives are most effective when integrated into the culture—not just offered as perks.
Upskilling and career development
Employees today are growth-driven. Supporting learning signals that you’re invested in their future.
- Learning budgets or course sponsorships: Give staff the freedom to pursue training relevant to their role or interests.
- Time-off for learning: Set aside dedicated hours or days each quarter for self-improvement and development.
- Internal mentorship programmes: Pairing junior employees with senior staff supports knowledge transfer and leadership development.
How to build the best company employee benefits programme
Creating a benefits package that supports your employees starts with asking the right questions and knowing your business priorities.
- Understand what your employee needs: What do your employees really value? Conduct a survey or informal check-in. Entry-level staff may want education support, while mid-career professionals might prioritise healthcare or flexibility.
- Look at what others are doing: Benchmarking your package against industry standards gives you a clearer picture of where you stand. If competitors offer certain perks, consider matching or exceeding them to stay competitive.
- Work within your budget: Employee benefits don’t have to be expensive to be meaningful. Even cost-neutral policies, like compressed workweeks or flexible scheduling, can have a big impact.
- Align perks with your culture: If your company culture is fast-moving and innovation-driven, you might prioritise learning budgets, wellness support and attractive incentives. If it’s more traditional, extended healthcare or structured leave might resonate better.
- Communicate clearly: It’s not just what you offer—it’s how you present it. Use onboarding guides, your company intranet, and regular check-ins to make sure employees understand and use the benefits available.
- Reassess and improve: Make it easy for employees to give feedback and suggest improvements. Over time, review your benefits package to make sure it continues to reflect your people’s needs and your company’s growth stage.
Why an ideal work environment still matters
Even with generous employee benefits, the environment your team works in can significantly impact engagement, productivity, and wellbeing. A well-designed space reinforces everything you’re trying to build—whether it’s trust, performance, or a stronger team culture. That’s where The Work Project Singapore can help.
- Coworking and private office solutions: Whether your team works remotely, in-office, or on a hybrid model, our coworking spaces in Singapore offer the versatility to support your setup. From hot desk spaces for freelancers and growing teams to dedicated desks and shared offices for established setups, you’ll find room to scale without compromise.
- Private office rental options: Need more privacy or structure? Our office rental solutions in prime CBD locations give your business a professional footprint—ideal for leadership teams, client-facing roles, or departments that require focused environments.
- On-demand meeting rooms: Need a space for team huddles, client presentations, or hybrid meetings? Our on-demand meeting rooms for rent are equipped with the tools you need to collaborate professionally and seamlessly.
- Design-driven workspaces: With natural light, biophilic design, and calming breakout areas, our workspaces are crafted to support both focus and comfort. It’s a space your employees will want to come into.
- Community and events: Working at The Work Project means joining a network of like-minded professionals. From business talks to wellness activities, our members enjoy access to events that foster connection and professional growth.
Choosing the right workspace is about more than location—it's about creating a place where your people can thrive. By offering an inspiring, functional, and community-driven environment, you're strengthening your entire employee experience—from recruitment to retention.
Bringing employee benefits to life through better workspaces
A group of professionals having a meeting in a modern, well-lit boardroom with a large window overlooking the city.
Employee benefits aren’t just checkboxes—they're a reflection of how you value your people. From health insurance and paid leave to flexible work arrangements and learning support, every benefit you offer shapes the employee experience.
At The Work Project Singapore, we help companies create inspiring, productive spaces that complement their benefits strategy. Whether it’s a quiet hot desk space, a collaborative shared office, or a fully private suite in one of our premium coworking spaces in Singapore, your team gets more than just a place to work—they get a space that supports wellbeing, flexibility, and performance.
Ready to align your workspace with the way your people work best? Book a tour today and discover how our office rental solutions and community-driven coworking spaces can elevate your employee experience from the ground up.
