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Malaysians seek work-life balance after higher pay, says Randstad Malaysia
PETALING JAYA: Seventy-two per cent of Malaysians ranked attractive salary and benefits as the most important employee value proposition (EVP) they seek in an ideal employer.
Work-life balance comes in a close second at 69%, according to Randstad, the world’s leading human resources solutions agency.
The agency yesterday released the results of its annual Employer Brand Research survey in Malaysia.
Commissioned by Randstad and independently conducted by Kantar TNS, the research explores the top EVP factors that influence employees and job seekers in their search for a new career.
Randstad Malaysia head of operations Fahad Naeem said, “The issue of unmatched salary expectation is not new, yet it’s the most complex to resolve.
“There are many factors that come into play when it comes to salary calculation, such as salary legacy, cost of the rising standard of living, mismatch in skills and experience, gender disparity and more.
“Employers need to conduct regular audits to ensure salary equality and competitiveness, and find out if their investment in skills development of their workforce is adequate enough to retain their high performing talent.”
The top five employee value propositions that Malaysian respondents seek in an ideal employer in 2021 are: attractive salary and benefits (72%), work-life balance (69%), strong management (64%), Covid-19 safe work environment (63%) and financially healthy (62%).
Naeem in a statement added: “Employees and job seekers are increasingly looking to their employers to tide them through the pandemic, particularly to protect their income and ensure job stability.
“A strong management has a critical role to play in ensuring good corporate financial performance and a Covid-19 safe work environment to keep their employees safe.
“This means being able to take actions quickly to protect the business and their workforce, even if they have limited information to work with.”
The survey revealed that 73% of female respondents value work-life balance in their search for an ideal employer.
In comparison, 65% of male respondents see work-life balance as an important EVP factor.
Women are also more attracted to “softer EVP factors, ranking Covid-19 safe work environment, pleasant work atmosphere, location and possibility to work remotely higher than men.
“As more and more women join the workforce, it is essential for employers to create a safe working environment.
“As female employees tend to seek different factors than men, it is therefore critical for human resource (HR) professionals to develop fair and equal HR policies and benefits that address the needs and aspirations of both genders, ” he noted.
The 2021 Randstad Employer Brand Research provides employers with a unique opportunity to uncover new insights and validate their assumptions of employees and job seekers.
This independent research is the most representative employer brand study in the world.
It reaches out to more than 190, 000 respondents across 34 markets, including 2, 523 who are based in Malaysia in January 2021.
Source: https://www.thestar.com.my/business/business-news/2021/06/15/malaysians-seek-work-life-balance-after-higher-pay-says-randstad-malaysia