The latest survey from Randstad Malaysia, the world’s leading talent company, discloses a notable trend – half of the respondents are contemplating leaving their current roles for better work-life balance.
Growing Value of Work-Life Balance in the Evolving Job Market
The 2023 Employer Brand Research, the 8th iteration of the report, aims to unravel the shifting paradigms of Malaysia’s workforce amidst an evolving economy and labour market. According to Fahad Naeem, Country Director at Randstad Malaysia, “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.”
Employee Turnover Factors: Why Malaysians Are Willing to Switch Jobs
The research offers an in-depth look into why Malaysian employees might decide to leave their current employment. The key reasons include work-life balance (50%), career growth opportunities (36%), compensation concerns (35%), irresistible job offers (32%), and poor leadership (27%).
Naeem adds, “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.”
Post-Pandemic Work Arrangements and Employee Autonomy
Following the shift to hybrid work during the pandemic, the survey reveals a 16% rise in 2023 in employees returning to all-office work arrangements, compared to the previous year. Naeem emphasizes the growing demand among Malaysian workers for flexibility and autonomy to shape their work-life routine, and how it impacts job satisfaction and productivity.
Non-Monetary Benefits and Their Significance
Interestingly, 87% of respondents find non-monetary benefits significant, pointing towards the importance of cultivating positive relationships with managers and colleagues in the workplace. Naeem underscores the transformation in the perception of work-life balance, advocating for organisations to foster a supportive environment rooted in trust and clear communication.
“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,” concludes Naeem.
The research offers indispensable insights for employers to bridge the work-life balance disconnect and enhance their talent retention strategies. For more information, see www.randstad.com.