Companies spend more on benefits but few believe these are highly valued by staff

SINGAPORE employers spend a neat sum on staff benefits but those efforts may not be recognised by their employees.

A recent survey by consulting firm Towers Watson found that 36 per cent of Singapore companies are spending more than 20 per cent of total payroll on benefits.

However, only 16 per cent of Singapore employers believe their benefits are highly valued by staff.

These findings mirror Asia's numbers, where 40 per cent of organisations in Asia spend more than 20 per cent of their payroll on benefits, and only 15 per cent believe that their benefits are highly valued.