KUALA LUMPUR (June 14): “Attractive salary and benefits” are 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.

In a statement on Tuesday (June 14), human resources (HR) services company Randstad said “good work-life balance” ranked a close second at 70%, increasing by 1% from the year before.

It said the 2022 Randstad Employer Brand Research survey in Malaysia was conducted online in January with more than 2,500 respondents in the country.

Randstad Malaysia country director Fahad Naeem said as the labour market makes a speedy post-Covid-19 recovery, businesses are hiring new talent to quickly ramp up their operations and growth projects.

“Intense demand for skilled talent across industries has presented jobseekers with an 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 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,” said Naeem.

Randstad said that 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.

It said the pandemic had 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.

Naeem said companies that want to attract talent should pay their employees fairly in exchange for their skills, 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,” he said.

Randstad said some 85% of Malaysian workers want employers to offer them opportunities to upskill for professional and personal growth.

However, only 59% said that their employers offer them enough development opportunities.

Naeem said 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,” he said.

Randstad said three quarters of respondents said they are more likely to stay with their employer if they receive reskilling and upskilling opportunities.

The firm said in line with wanting adequate learning and development opportunities, nearly six in 10 (57%) respondents said that “good training” is an important EVP factor they look for in an ideal employer.

Naeem said 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,” he said.