KUALA LUMPUR (March 6): More Malaysian employees are expecting a bonus this year (77%) compared to last year (66%), according to the 2018's Randstad Malaysia Bonus Survey.  ​

Randstad specialises in the human resource services industry and solutions in the field of flexible work and human resources services.

In a statement today, Randstad said 37% will likely start looking for new job opportunities, if they do not receive a bonus payout this year.

It said the increasing expectation towards bonuses from employees indicates a positive sentiment around economic and organisational performances.

However, 62% of respondents said while getting a bonus is important, it is not the most important factor for their overall engagement within an organisation, Randstad said.

This means a bonus payout will not determine their decisions on changing jobs this year, it added.

Randstad said bonuses and other incentives, such as salary increment and flexible benefits, used to be key factors in helping organisations retain employees but this trend is slowly changing.

It said there is an evident narrowing gap between expectations of salary and work-life balance.

Randstad said employees are prioritising other aspects of the job such as work-life balance, sense of purpose and proper career progression to fulfill their personal career aspirations.

This is especially true for the millennials between the ages of 18 and 35, it said.

Randstad Malaysia country manager Ryan Carroll said Malaysians are starting to place a greater value on what were previously considered “softer” factors.

“Good work-life balance was the second most important employer brand factor in 2017, a two-rank increase from 2016.

“It is important for employers to understand what contributes to an engaged, productive workforce to attract talent and retain its employees,” said Carroll.

Other results from the bonus survey showed that construction, property & engineering (CPE) reported the highest number of employees who expect at least a one-month bonus, followed by employees from manufacturing, banking & financial services (BFSI) and Information Technology.

Randstad said out of the 26% of respondents who said that they expect a bonus between three and five months, employees within the CPE sector stood at 47% and BFSI at 26%.

Carroll added that the construction industry as a whole is performing well and undergoing substantial growth as a result of an increasing number of major infrastructure projects across key cities in Malaysia.

“Therefore, it comes as no surprise that the employees’ expectations for financial remunerations are higher, as they understand the value and demand within the sector,” he said.

According to Randstad's latest global Workmonitor report, the confidence level of Malaysian employees on securing a bonus and pay raise is much higher compared with the global average (51.3%), the statement said.

“Highest across the region and aligned with the local bonus survey, eight out of 10 Malaysians expect a bonus at the end of this fiscal year,” Randstad added.

Randstad Malaysia surveyed more than 700 professionals who are based locally, across various disciplines, in January 2018.