The demands on employees today are higher than ever, particularly in Singapore’s fast-paced culture. It’s no longer enough for companies to focus solely on output and business performance. To attract and retain top talent, employers need to invest in comprehensive wellness strategies that support all facets of an employee’s wellbeing.

Our article explores the essential elements of workplace wellness, from the types of wellness benefits employers can offer to the strategic wellness programs that build lasting change. We’ll also dive into real-world examples of how organisations are putting wellness into action — and learn how your company can do the same to create a supportive workplace.

Understanding wellness benefits

Wellness benefits are initiatives and programs aimed at supporting employees’ overall wellbeing. They address the key dimensions of employee wellbeing, including mental, physical, emotional, social, and occupational wellness.

When integrated into a broader wellness strategy, these benefits help foster a culture of wellbeing across the organisation — delivering positive outcomes not only for employees, but also for employers and the business as a whole.

Are wellness benefits taxable?

The tax treatment of wellness benefits can vary depending on the benefit and how it is provided.

Understanding benefits-in-kind (BIK)

Wellness benefits typically fall under the category of benefits-in-kind (BIK). Also known as employee perks or fringe benefits, BIK refers to non-cash benefits provided to employees in addition to their salary. Examples include gym memberships, access to recreational facilities, health screenings, complimentary meals, and wellness coaching.

Are BIKs taxable?

In Singapore, most BIKs are taxable and must be included as part of the employee’s taxable income. Employers are required to report the value of these benefits to the Inland Revenue Authority of Singapore (IRAS), and employees may need to pay tax on the value of the benefits received.

However, some BIKs may qualify for administrative concessions or be exempt from tax, depending on their nature and how they are provided. For example, certain medical or dental benefits may be exempt, and some staff welfare benefits (such as occasional team meals or simple recreational facilities) may fall under tax-exempt categories if they meet IRAS guidelines.

It’s also important to consider the context in which the benefits are provided. Certain benefits may only be tax-exempt if they are offered to all employees, rather than to a select group of individuals such as the management team.

You may refer to the IRAS resources listed below, or consult tax professionals to ensure you understand the specific tax implications of wellness benefits provided at your organisation.

IRAS resources:

• Understanding the tax treatment
• List of benefits-in-kind granted administrative concession or exempt from income tax
• Four things to note when reporting employees' income to IRAS

And if you’re looking to implement scalable wellness programs, partners like ThoughtFull can help you navigate both employee impact and compliance clarity. 

What are the key considerations for employers?

Here are some important factors Singapore employers should keep in mind:

• Know your reporting obligations: While employers don’t directly pay tax on wellness benefits, you are responsible for accurately reporting taxable BIKs to IRAS.
  
  
• Understand the tax impact of your wellness strategy: Being clear on the tax treatment of various wellness benefits helps ensure compliance and allows you to design initiatives that are both attractive and cost-effective.
  
  
• Communicate taxability to employees: Proactively informing employees about the tax implications of wellness benefits helps them make informed decisions and better manage their personal finances.

• Regularly review your wellness offerings for tax efficiency: Periodically assess the types of wellness benefits you provide to ensure they remain compliant with IRAS guidelines, and are structured in a way that maximises value for both the organisation and employees.

As you build out your employee wellness strategy, consider how personalised, evidence-based digital mental health support can transform employee engagement and outcomes for your organisation. Partners like ThoughtFull offer solutions that are tailored specifically to your needs, so you can create a program that works for your people and business. 

Insights into the wellness needs of employees in Singapore

To design wellness initiatives that make an impact, it’s essential to understand evolving challenges facing today’s workforce. 

In Singapore, physical and mental health concerns, along with financial pressures continue to impact wellbeing. Understanding these trends can help employers design benefits that are relevant, timely, and impactful.

• High levels of burnout are prevalent:

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Dayforce’s 14th annual Pulse of Talent report indicates that 92% of Singapore employees reported experiencing burnout in the past year, compared to the global average of 81%. Stressors contributing to burnout include organisational changes, aggressive performance goals, and layoffs.¹

• Employees face rising mental health risks:

According to The Straits Times, four in ten employees in Singapore report facing high mental health risks, with nearly half experiencing moderate risk.² 

• Individuals are placing greater importance on their mental health:

AIA’s 2024 Live Better Study found that 51% of Singaporeans now place greater importance on their mental health compared to before the pandemic.³

•  Financial wellness is a top priority among employees:

Over half of employees (51%) surveyed by WTW say that financial wellbeing support is their top area of concern.⁴

• Office workers face a rising risk of chronic diseases due to sedentary lifestyles:

The Saw Swee Hock School of Public Health found that office workers in Singapore spend almost 75% of their working hours deskbound. This has significant health implications, including increased risks of high blood pressure, high cholesterol, and diabetes.⁵

Implications for employers in Singapore: 

These trends highlight the focal points employers should prioritise when shaping their employee wellness strategies. In the next section, we’ll explore the key wellness dimensions to focus on, in order to effectively address the needs and expectations of your workforce.

What are examples of wellness benefits a company might offer? 

A well-designed employee wellness strategy addresses the diverse needs of your workforce. In Singapore, where employees face rising mental and physical health risks and financial pressures, organisations can create a meaningful impact by offering benefits across four key dimensions of wellbeing.

Mental wellness benefits

Mental wellness benefits are designed to support the psychological, emotional, and social wellbeing of employees. These initiatives provide individuals with tools and resources to manage workplace stress, handle challenges, and maintain mental balance.

Beyond improving employees’ mental health, these benefits deliver positive outcomes for employers as well. According to the Harvard Business Review, employers who have supported employees with their mental health saw better mental health and engagement outcomes.

• Workers who felt supported were 26% less likely to report at least one symptom of a mental health condition in the past year. As a result, they were less likely to miss work and underperform.
• They also reported higher job satisfaction, had stronger intentions to remain at their company, and held more positive views of their company and its leaders.⁶

‍Examples of mental wellness benefits employers may implement:

• Subscriptions to mental health platforms, such as ThoughtFull’s employee assistance program (EAP).
  
  • Our program drives measurable outcomes for employees and organisations, including: 
    
    • A 4.4/5 rating for user satisfaction
    • 68% reduction in costs compared to traditional EAPs
    • 67% increase in employee wellbeing
• Sabbatical leave options
• Peer support systems
• Meditation sessions
• Insurance coverage for mental health services
• Designated mental health days
• Mental health awareness and training workshops

Physical wellness benefits

Physical wellness focuses on an employee’s health and vitality, covering areas like fitness, nutrition, sleep, and energy. Physical wellness benefits encourage healthy habits and provide access to preventive care, helping employees identify and manage health risks early.

A scientific review of 28 studies on physical activity in the workplace found that multicomponent wellness programs involving physical wellness initiatives resulted in: 

• Significant improvements in health outcomes
• Reduced absenteeism 
• Reduced sick leave
• Positive returns on investments⁷

‍Examples of physical wellness benefits employers may implement:

• Fitness programs and gym memberships
• Onsite fitness classes or virtual wellness activities
• Wellness challenges, including team competitions
• Healthy snacks, meals, and beverages
• Nutrition education workshops to encourage healthy eating habits
• Smoking cessation programs
• Health screenings and checkups
• Comprehensive medical insurance coverage

Emotional wellness benefits

Emotional wellness relates to how employees manage emotions, communicate effectively, and navigate everyday challenges. It also connects to achieving a healthy work-life balance, where employees feel they can meet job demands without negatively affecting other aspects of their lives.

A Gympass’ State of Work-Life Wellness 2024 study underlines the importance of emotional wellness benefits. In a survey of 5,000 workers worldwide, a third of respondents indicated that emotional wellness was the most important dimension of wellbeing. Furthermore, the majority (95%) indicated that emotional wellness impacted their productivity — a higher response relative to other dimensions of wellbeing.⁸ 

When it comes to implementing emotional wellness benefits, it is vital that employers consider:  

• Incorporating physical activity as part of their broader wellness program: According to the US Department of Health and Human Services, physical activity is one of the most powerful ways to improve emotional and cognitive wellbeing.⁹

• Paying attention to “soft features of the work environment”, such as work-life balance, social interactions, and the level of control employees have over their work day. Research suggests that these elements play a significant role in emotional wellbeing.¹⁰ 

‍Examples of emotional wellness benefits employers may implement:

• Providing access to comprehensive mental health platforms like ThoughtFull. 
  
  • Our app offers self-guided tools, including a daily mood tracker and journal. These features encourage employees to track their moods, feelings, and daily experiences, which can be helpful in validating their emotions and reframing negative thought patterns. This leads to greater self-awareness, and improved emotional and mental wellbeing. 
• Team building activities 
• Community engagement opportunities
• Scheduled recovery time off
• Employee resource groups 
• Employee recognition and appreciation programs

Financial wellness benefits

Financial wellness refers to an employee’s ability to manage their personal finances confidently and securely. To support this, financial wellness benefits aim to reduce money-related stress, improve financial literacy, and promote long-term financial security.

Financial stress can adversely impact key drivers of employee health and wellbeing. According to a financial wellness survey by PwC, monetary worries negatively affect sleep (56%), mental health (55%), self-esteem (50%), physical health (44%), and home relationships (40%).

In contrast, employees who are not financially stressed tend to demonstrate stronger engagement at work — as reflected in the PwC survey findings¹¹:

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Examples of financial wellness benefits employers may implement:

• Financial literacy workshops
• One-on-one financial coaching
• Employee financial assistance funds
• Retirement savings schemes
• Access to financial wellness apps or tools
• Subsidies for personal expenses (education, childcare, medical costs)
• Employee share or stock option programs

Benefits that encourage greater work-life balance

Work-life balance benefits are designed to help employees balance professional and personal responsibilities, creating a healthier, more sustainable work environment. This includes not only flexibility but also strong leadership practices that promote empathy, inclusion, and respect.

A 2024 HR review article highlighted the outcomes of successful work-life balance initiatives for employers and employees:

• Improves job satisfaction among employees, leading to increased engagement and commitment to organisational goals.
• Lowers the risk of burnout among workers by addressing factors that contribute to prolonged stress and an imbalance between work and personal lives.
• Increases employee retention, and reduces the costs associated with recruitment, onboarding, and training.¹²

Examples of work-life balance initiatives employers may implement:

• Flexible work arrangements, such as remote work or flexible hours
• Leadership and line manager training to improve workplace communication and empathy
• Programs focused on boosting employee engagement and morale
• Regular check-ins to monitor workload and avoid burnout

By understanding the diverse wellness needs of employees in Singapore and addressing them through targeted interventions, organisations can build healthier and more resilient teams. 

In the next section, we'll explore how to implement comprehensive wellness programs effectively; supported by platforms like ThoughtFull that are designed to simplify mental health for your growth.

Employee wellness programs at the workplace

What are employee wellness programs?

Wellness programs are structured, long-term initiatives designed to support the holistic wellbeing of employees. Unlike wellness benefits — which refer to specific perks such as gym subsidies, wellness app access, or one-off workshops — wellness programs are strategic and engagement-driven. They are designed to embed wellbeing into the workplace culture, encouraging ongoing participation and long-term behavioural change.

How do wellness programs differ from wellness benefits?

Wellness programs differ from wellness benefits in several key ways:

• Scope: While wellness benefits offer targeted support, wellness programs take a broader approach, combining multiple initiatives under one cohesive strategy.

• Implementation: Benefits are often delivered as one-off or ad-hoc offerings, whereas programs are designed to run continuously, with structured wellness activities, milestones, and touch points over time.

• Employee Impact: Wellness benefits provide immediate relief or short-term value, but wellness programs aim to drive deeper, longer-lasting change by reshaping habits, attitudes, and organisational culture.

Together, both approaches play an important role. However, it’s the sustained, proactive nature of wellness programs that helps employers create a workplace where employees feel consistently supported.

What are examples of employee wellness programs that can be implemented in the workplace?

To understand how employee wellness programs can be put into practice, let’s look at how leading organisations design and implement initiatives that address the full spectrum of employee wellbeing.

• Hiscox: Implementing Wellness Programs That Address Diverse Employee Needs

Hiscox’s multifaceted employee wellness program addresses the different dimensions of wellbeing. The organisation offers a wide range of wellness benefits for employees, including:

• A paid four-week sabbatical for every five years of service.
• WeMind employee resource group, an employee network dedicated to promoting mental health awareness.
• A hybrid working model to encourage greater flexibility and work-life balance.
• Educational resources, such as in-person and virtual courses to help employees gain financial literacy.
• Mentoring and ambassador programs that help employees achieve their personal and professional goals.¹³

• SAS: Building a Culture Code That Supports Employee Wellbeing

SAS takes a holistic approach to employee wellbeing, and this is evident from the way the organisation has cultivated a culture that consistently ranks among the best places to work. 

The company’s comprehensive wellbeing strategy addresses a broad range of employee wellness needs:

• Physical wellness: 
  
  • Employees have access to a full-service onsite healthcare centre and pharmacy, along with an onsite fitness centre that features amenities such as fitness classes, an indoor swimming pool, tennis court, walking trails, and more. Healthy eating is also made easier at work, with a variety of onsite cafés offering nutritious food.
• Emotional and social wellness:
  
  • Initiatives like employee inclusion groups and volunteer time off help employees build stronger connections with their colleagues while fostering a sense of purpose that extends beyond their day-to-day work.
• Financial wellness:
  
  • Employees have access to financial wellbeing resources, including a generous retirement savings plan, and consultations on retirement and investment planning.
• Occupational wellness:
  
  • The organisation fosters continuous learning and growth through programs for skills development, mentoring, and leadership training.¹⁴ 

• PDAX: End-to-end Mental Health Support

The leadership team at digital asset exchange PDAX sought a solution to help employees manage stress, burnout, and other mental health challenges.

They wanted a provider that could deliver a discreet, secure, and easy-to-use mental health platform — while also offering a wide range of comprehensive services. ThoughtFull’s employee wellness program proved to be the right fit.

Within just four months of implementation, PDAX saw measurable improvements across its workforce, including a 39% average reduction in depression, anxiety, and stress levels, alongside a 43% program utilisation rate.

Conclusion

Investing in employee wellness isn’t just about offering perks — it’s about creating a workplace where people feel supported, valued, and equipped to succeed. With ThoughtFull’s corporate mental health program, your organisation can access personalised, end-to-end solutions that meet the evolving needs of your workforce.

Get in touch with the ThoughtFull team today to explore how we can help you build a healthier, more resilient workplace.

Sources:

1. hrmasia, Balancing Employer and Employee Needs in the Ever-Changing Workplace, March 2024
2. The Straits Times, Turn Mental Health Into Wealth at Workplaces, February 2025
3. AIA, 1 in 2 Believe That More Needs to Be Done to Boost Mental Health in Singapore: AIA Live Better Study 2024, September 2024
4. WTW, Singapore Employers Prioritise Wellbeing but Miss the Market With Employees, August 2024
5. Saw Swee Hock School of Public Health, Sitting for Extended Periods of Time Can Be Harmful for Health, April 2016
6. Harvard Business Review, It’s a New Era for Mental Health at Work, October 2021
7. PubMed, Physical Activity Promotion in Business and Industry: Evidence, Context, and Recommendations for a National Plan, 2009
8. Wellhub, The State of Work-Life Wellness 2024, 2025
9. OASH, Physical Activity is Good for the Mind and the Body, December 2021
10. Sage Journals, Emotional Well-being Among Public Employees: A Comparative Perspective, July 2020
11. PwC, PwC's 2023 Employee Financial Wellness Survey, 2025
12. World Journal of Advanced Research and Reviews, Work-Life Balance and Its Impact in Modern Organizations: An HR Review, January 2024
13. HRO Today, Case Study: Hiscox’s Multifaceted Approach to Wellness, October 2024
14. SAS, Our Culture Code: Employee Well-being, January 2024

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