AIA Singapore, one of the largest insurance companies in the country, announced on June 17 that it is giving all of its more than 1,000 employees a S$1,000 (US$717) lump sum each to support them in developing their home office setup. The payment will be given to both permanent and contract staff.

In addition to this initiative, the company is also planning to extend flexible working arrangements to all its staff even after COVID-19 lockdowns end, suggesting that it is joining the growing number of companies that have found WFH not only viable but attractive enough, in Singapore's high-rent environment, to adopt on a permanent basis going forward.

AIA was profitable in 2019 and has apparently remained so this year—according to Patrick Teow, the CEO of AIA Singapore, the insurer is not going to embark on salary cuts. "It is even more so during these unprecedented times that we want to assure them of our emphasis to preserve jobs and commitment to invest in their continuous personal and professional development. There is currently no plan for any salary cuts," he said.

There have also been no hints of upcoming headcount reduction, and in fact AIA Singapore is also opening some 200 job opportunities in wealth management and insurance, as well as an unspecified number of trainee positions for digital roles—these last aimed at fresh and recent graduates. The trainee positions are covered under the government-supported SGUnited Traineeships programme, which aims to provide this year's batch of graduates with employment experience in preparation for the economic recovery.