Malaysian workers aren’t just looking for more money from their employers. They are seeking organisations where work-life balance is made a priority.
By Zee Johnson
Work-life balance is essential for Malaysian workers, so much so, that half said they would leave their jobs to pursue a healthier balance.
Randstad’s 2023 Employer Brand Research in Malaysia report highlighted the talent sentiments that have recently changed in the region, along with the top five reasons workers would consider leaving their jobs, which included the following.
- Improved work-life balance (50%)
- Lack of career growth opportunities (36%)
- Low compensation as the cost of living increases (35%)
- A new job offer (32%)
- Poor leadership from employer (27%)
In the report, Country Director for Randstand Malaysia, Fahad Naeem, said the country’s economy has played a major role in the evolution of workers’ requirements. “Over the past three years, Malaysia’s economy and labour markets have been faced with unprecedented challenges which have transformed the way Malaysians view and approach work,” he says. “Whilst competitive salaries and benefits continue to be a top priority for talent, today’s employees are actively seeking employers that can offer a more holistic work experience that supports a healthy work life.”
The research also revealed that one in three Malaysians are planning to switch jobs in 2023, and of that group, 42% are millennials, 37% are Gen Z workers, and 29% are Gen X employees.
But organisations could consider a proven way to hold onto top talent—by increasing wages.
In fact, Malaysia’s Human Resource Minister V. Sivakumar said in an address to the country that increasing wages would be the best way to retain the local workforce and reduce dependence on foreign workers.
“Employers here have to look at this as a sign that we are not lacking workers, but due to issues such as wages and benefits being offered elsewhere that have led to them preferring to work overseas,” he said. “We can increase the wage scheme for the long term and should not always be bound to the government’s national minimum wage of RM1,500.”
Increased wages aren’t the only thing that will keep Malaysians satisfied at work. The survey also found that 87% of Malaysians find non-monetary benefits important, too, like intangible perks that improve employees’ job satisfaction and work-life balance.
Top five non-monetary benefits for Malaysians include the following.
- Good relationship with my manager (96%)
- Flexible work arrangements (96%)
- Convenient location (96%)
- Good relationship with my colleagues (96%)
- More autonomy to perform my role (93%)