74% of Malaysians Want to Work for Employers that Offer Attractive Salaries and Benefits: Randstad

55% of respondents want companies to provide healthcare benefits to maintain good work-life balance

Top employee value propositions Malaysia 2022

“Attractive salary and benefits” is the most important employee value proposition (EVP) Malaysian respondents look for in an ideal employer, increasing by 2% year-on-year to 74% in 2022. “Good work-life balance” ranked a close second at 70%, increasing by 1% from the year before.

Randstad, the global HR solutions leader, today announced the survey results of the 2022 Randstad Employer Brand Research Survey in Malaysia. The online survey was conducted in January 2022 with more than 2,500 respondents in Malaysia. Commenting on the survey results, Fahad Naeem, Country Director at Randstad Malaysia said, “As the labour market makes a speedy post-COVID recovery, businesses are hiring new talent to quickly ramp up their operations and growth projects. The intense demand for skilled talent across industries has presented job seekers with the opportunity to negotiate for higher salaries and better
benefits, so that they can improve their work-life balance and have a higher standard of living in Malaysia.”

“It is critical for business and HR leaders to keep up with the evolving talent expectations. Many Malaysians are concerned about the rising inflation and cost of living. If their salaries don’t match their needs, employees will look for a job with another company that is able to meet their expectations to sustain their quality of life.

Work-life balance has also become more important to Malaysian workers, with 70% of
respondents ranking it the second most important EVP they seek in an ideal employer. Nine in 10 respondents in Malaysia took matters into their own hands to improve their work-life
balance. Two in five respondents (44%) said that they worked flexible time slots and 33% said that they worked at home or remotely more frequently. About one in four respondents (23%) said that they worked less overtime hours so that they can have better work-life balance.

Naeem shared, “Many Malaysians had the opportunity to reassess how work fits into their life and their career purpose these last couple of years. When working flexibly, employees don’t need to worry about commuting during peak hours, which saves a lot of time for workers who have to travel into the city. Hybrid work doesn’t just alleviate stress levels, it can also reduce absenteeism at work as employees are less likely to call in sick to avoid being late for work or dealing with heavy traffic.”

74% of Malaysians Want to Work for Employers that Offer Attractive Salaries and Benefits: Randstad

However, the number of respondents who work remotely has dropped by a staggering 18%
year-on-year to 51% in 2022. At the same time, 54% of respondents said that they 74% of Malaysians want to work for employers that offer attractive salaries and benefits.

Employees want their employers to offer “flexible work arrangements” to help improve their work-life balance.

“Malaysians are prioritising work flexibility more than ever. They want to be able to choose where and when they work so that they can schedule personal activities around their working hours. This is especially helpful for working parents, who need to travel during peak hours to send their kids to and from school. If their employer doesn’t offer the work flexibility they desire, it is very likely for them to search for a company that offers hybrid or flexible work,” Naeem said.

Top 5 benefits Malaysians seek from their employers to maintain a good work-life balance

74% of Malaysians Want to Work for Employers that Offer Attractive Salaries and Benefits: Randstad

Healthcare benefits and wellness resources

“Employees want greater support from employers in terms of healthcare and mental health benefits so they can better cope with their changing work-life expectations. The pandemic has spotlighted the importance of good health. However, the rising cost of healthcare is a big barrier for many Malaysians who want to seek professional help in time for better patient outcomes. Companies should review their corporate insurance to ensure that it is robust enough to attract and retain talent.”

Fair compensation beyond salary

“Companies that want to attract talent should pay their employees fairly in exchange for their skill experience and work contributions. If the employee has exceeded expectations, they’ll also be expecting bonuses for project completion and for helping drive more business revenue.”

85% of respondents said that it’s important for their employers to offer them
upskilling opportunities

A whopping 85% of Malaysian workers said that their employer should offer them
opportunities to upskill for professional and personal growth. However, only 59% said that
their employers offer them enough development opportunities. According to Naeem, “One of the challenges both employers and talent face in Malaysia is the widening skills gap. However, if employers hesitate to invest in training and development for their employees, the workforce will never be able to catch up with what is expected of them in the future. Employers who support their workforce’s desire to upskill are not only helping them feel more fulfilled in their present careers, but they’re retaining talent with actively evolving skill sets for a future-proof workforce.”

Three quarters of respondents said they are more likely to stay with their employer if they receive reskilling and upskilling opportunities. In line with wanting adequate learning and development opportunities, nearly six in ten (57%) of respondents said that “good training” is an important EVP factor they look for in ideal employers. “Personal career growth is a big priority for Malaysian workers. As technological advancements evolve beyond existing human skills, employees are feeling increased pressure to upgrade their skills in order to stay relevant in their industries and maintain their job security,” Naeem noted.

The Randstad Malaysia Employer Brand Research provides business leaders and HR professionals with the latest data and insights to inform their workforce strategies in the new normal. Commissioned by Randstad and conducted independently by Kantar TNS, the Employer Brand Research is the world’s most representative employer brand study. In 2022, Randstad surveyed 163,000 respondents across 31 markets, including 2,524 who are based in Malaysia in January.