In a recent survey commissioned by Randstad Malaysia, 1 in 2 respondents said that they would leave their jobs to pursue healthier work-life balance. Randstad, the world’s largest talent company, released the 2023 Employer Brand Research in Malaysia Wednesday. In its 8th edition, the report aims to share the sentiments of Malaysia’s workforce to highlight how talent expectations have evolved alongside the economy and labour markets.
Fahad Naeem, Country Director at Randstad Malaysia said, “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. While competitive salaries and benefits continue to be a top priority for talent, today’s employees are actively seeking employers who can offer a more holistic work experience that supports a healthy work life.” “In an increasingly competitive labour market, employers must stay attuned with what job seekers look for in an ideal employer to build effective talent recruitment strategies. By aligning themselves with talent expectations, companies can better position themselves to attract and retain the best and brightest in Malaysia.”
Top 5 reasons Malaysians would decide to leave their employer
1. to improve work-life balance 50%
2. lack career growth opportunities 36%
3. low compensation and rising cost of living 35%
4. received an offer they could not refuse 32%
5. employer shows poor leadership 27%
Data from the 2023 Employer Brand Research also revealed that one in three Malaysians are planning to switch jobs in 2023. When broken down into generations, millennials (42 per cent) are the most likely to switch jobs, followed by Gen Z (37 per cent) and Gen X (29 per cent).
Following hybrid work during the pandemic, 53 per cent of respondents revealed that they were required to return to an all-office working arrangement in 2023. This is a 16 per cent increase compared to 2022, and 34 per cent more from 2021. Naeem shares, “Now more than ever, Malaysian workers want autonomy in shaping a work-life routine that works best for them, and flexible work options can help them realise that vision. On the other hand, employers are keen on returning to pre-pandemic work arrangements to increase productivity and create opportunities for employees to engage with one another to build a stronger company culture.” “Enforcing an all-office work arrangement can lead to resistance and disengagement among employees, especially if they are able to prove higher productivity when working remotely. Employers need to actively listen to what their employees want and consider how the benefits and drawbacks of different work arrangements would impact job satisfaction and productivity, as well as the company’s talent recruitment strategies.” =
The survey also revealed that 87 per cent of Malaysians find non-monetary benefits important. Non-monetary benefits refer to initiatives that do not provide direct financial compensation to employees. Rather, they offer intangible benefits that improve employees’ job satisfaction and work-life balance. On top of flexible work arrangements, Malaysian workers attach equal importance in cultivating positive relationships with their managers and colleagues.
Top 5 non-monetary benefits for Malaysians (out of 87 per cent of respondents)
1. good relationship with my manager 96%
2. flexible work arrangements 96%
3. convenient location 96%
4. good relationship with my colleagues 96%
5. more autonomy to perform my role 93%
“Work-life balance is no longer about rigidly dividing 24 hours a day between work and personal life. The advancements in technology and increasing demands of work have only further blurred our work boundaries. With hybrid work, job responsibilities have merged into various aspects of our lives, which is redefining how people view work in their lives. Talent are looking for organisations that can support this integration so that work can be a source of fulfilment and enjoyment. “Building a strong support system at work that is rooted in trust, understanding and clear communication can alleviate work-related stress and make work more enjoyable and meaningful. Organisations are encouraged to invest in fostering a supportive environment that allows employees to develop and be themselves, so that they can attract talent who share the same values,” shared Naeem.
The 2023 Randstad Employer Brand Research reached out to over 163,000 respondents across 32 markets, including 2,529 individuals based in Malaysia. This independent research is the world’s most comprehensive employer brand study that provides employers with a unique opportunity to discover new talent insights and measure their brand perception to improve their workforce strategies.
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