Singapore’s workforce spans multiple generations, from Baby Boomers to Generation Z, each with distinct professional aspirations.

While seasoned professionals value stability and structured environments, younger workers seek flexibility, career growth, and purposeful work. The traditional one-size-fits-all approach to employment is no longer sustainable.

Business leaders must rethink talent strategies to cater to these diverse needs. Despite generational differences, one common thread remains – employees place significant value on workplace benefits.

According to Howden’s B to Z Guide to Singapore’s Most Wanted Employee Benefits, 85% of Singaporean employees [pdf] regard high-quality, relevant benefits as a key factor in retention. However, different generations prioritise different perks, making a personalised approach essential.

The most sought-after benefit? Flexibility

Across generations, flexible work arrangements top the list of desired benefits. The guide reports that 93% of Singaporean employees favour a hybrid or remote work model, exceeding global averages. Notably, 2 in every 5 workers would turn down a job offer without flexible options, and 38% would even accept a pay cut to maintain remote work privileges.

The preference for flexibility is particularly strong among younger employees: 60% of those aged 18 to 24 would resign if required to work full-time on-site. Even among older employees (55+), 35% share the same sentiment. Recognising this demand, the Singaporean government now mandates employers to formally assess flexible work requests. However, implementation remains a challenge in sectors where physical presence is indispensable.

Prioritising health at every stage of life

Health benefits rank as the second most in-demand workplace perk. Comprehensive wellness initiatives not only improve employee wellbeing but also reduce absenteeism and healthcare costs. Despite this, 43% of Singaporeans do not engage in regular physical activity, and 60% of employees in their first job gain an average of three kilos annually. These figures underscore the importance of corporate wellness programmes.

To support employees of all ages, companies are increasingly offering holistic healthcare options, including preventive care, medical benefits, and digital health solutions. The growing reliance on telemedicine is evident: 43% of Singaporeans used such services at least once in 2023, with platforms like MediHub gaining traction.

Mental wellbeing is a growing priority

Mental health has emerged as a critical workplace concern. Currently, 17% of Singaporeans aged 18 to 70 experience poor mental health, while burnout is widespread: 61% of employees reported feeling exhausted in 2024.

Burnout disproportionately affects younger workers, with 68% of Gen Z and 65% of Millennials experiencing high levels of stress, compared to 56% of Generation X and 36% of Baby Boomers.

However, corporate support remains lacking. Only 45% of organisations provide confidential counselling, and 58% of employees believe their employers are not addressing financial stress effectively.

To counteract these pressures, businesses must cultivate a supportive work culture, implement Employee Assistance Programmes, and offer financial wellness initiatives to help ease monetary concerns.

Supporting employees through life’s transitions

Work-life balance remains a priority for all generations, with 74% of Generation Z, 78% of Millennials, 66% of Generation X, and 50% of Baby Boomers willing to change jobs to improve it.

Flexible benefits plans allow employees to tailor perks to their personal needs.

Singapore’s statutory leave policies may not fully address diverse employee needs. Expanding leave options – such as caregiver leave and mental health days – can help employees manage personal responsibilities while maintaining productivity.

Purpose-driven careers for long-term fulfilment

While younger employees gravitate towards meaningful work and work-life balance, older workers prioritise job security, skill enhancement, and protection against age-related bias.

Research indicates that senior employees’ concerns include age discrimination (63%), rigid schedules (60%), health constraints (54%), and limited career progression (53%).

Companies can bridge these gaps by fostering lifelong learning, implementing sustainability initiatives, and ensuring workplace accessibility for older employees and individuals with disabilities.

A workplace that champions inclusivity and career longevity enhances employee loyalty and engagement.

Notably, 86% of Gen Z and 89% of Millennials believe that finding purpose in their work is crucial for job satisfaction and overall wellbeing.

Charting the future with personalised benefits strategies

To build an engaged and resilient workforce, businesses in Singapore must adopt a dynamic, employee-centric benefits strategy. Three key approaches can drive success:

1. Conduct regular employee surveys to gauge evolving needs.

2. Forge strong partnerships with benefits providers to ensure diverse offerings.

3. Continuously review and update benefits to remain competitive.

As organisations tailor benefits and meet the unique expectations of a multigenerational workforce, they foster a workplace culture that supports both business success and employee wellbeing.