share on
Employees value both physical and financial wellness, yet financial programmes remain the least offered.
As Singapore faces an uncertain macroeconomic climate, an ageing population, and rising life expectancy, the demand for financial wellness and literacy support is growing rapidly. These factors underscore the urgent need for effective financial planning — both short- and long-term — for today’s workforce.
This rising demand is highlighted in AIA Singapore’s recent Corporate Wellness Study, which revealed critical gaps in workplace wellness.
Financial wellness programmes often overlooked by employers
The research finds that employees value both physical wellness activities — such as complimentary health screenings, discounts or vouchers for fitness and nutrition, and fitness challenges to earn rewards — and financial wellness offerings, including rewards for financial milestones.
While 92% of employers meet employee demand for physical wellness offerings, only 51% offer financial wellness programmes, making it the least common type of wellness initiative. Despite strong employee interest, employers consistently rank financial wellness programmes lower than employees do.
Further, with 70% of residents beginning their retirement planning, many remain unprepared. Therefore, the need for financial education and support is especially urgent among single individuals and those aged 40–49, who display the most negative outlook and greatest financial vulnerability.
This disconnect presents an opportunity for organisations to refine their suite of offerings to better support employee needs.
Mental health continues to be highly valued yet underutilised
Mental health remains a top priority for both employers and employees — yet it continues to see the lowest engagement across wellness offerings, with 44% of employees and 33% of employers saying it’s the most important area to focus on. Despite this shared recognition, engagement remains low.
The majority of organisations (83%) offer mental wellness programmes, yet only 67% of employees make use of them — a lower rate than participation in physical, social, and financial wellness initiatives. This gap reflects that while availability is improving, it doesn’t always translate into meaningful impact.
Interestingly, employees who do engage in mental wellness activities find them highly effective — more so than other wellness pillars, suggesting that when programmes are relevant and accessible, they can significantly enhance wellbeing.
Still, with four in five workers in Singapore facing moderate to high mental health risks, current efforts may not be going far enough.
To improve engagement, the researchers cited that employers must look beyond availability and tackle barriers such as time constraints, limited relevance, poor accessibility, and insufficient communication. Making programmes more appealing — through earned incentives, subsidised access, or integration with insurance benefits — could help bridge the gap between intention and participation.
The next phase of workplace wellness
Over the next 12 months, employee demand for corporate wellness solutions is expected to grow. In response, many companies are planning to introduce new programmes or expand existing ones. However, awareness remains a critical challenge — with fewer than 30% of employees aware of the wellness programmes available to them.
This low visibility may be one reason for the overall low uptake seen across wellness offerings, suggesting that improved communication and accessibility could enhance uptake.
"A healthy workplace is the foundation of a thriving society, and employers and businesses are uniquely positioned to drive this positive change. With Singaporeans living and working longer than ever, businesses have a unique opportunity and responsibility to support employee wellbeing and help make those extra years meaningful," said Kenneth Tan, Chief Corporate Solutions Officer, AIA Singapore.
"Workplace wellness starts with recognising that more than programmes and benefits – it's about understanding people, their needs, and the challenges they face, and meeting their needs with meaningful solutions," he added.
share on
