By Ryan Carroll, Country Director, Randstad Malaysia
It's been a fascinating few months for the team at Randstad Malaysia as we shared our very first edition of the Randstad Award employer brand research with our clients - companies of varying sizes, reach and ambitions. Despite the differences, all these organisations seem to have one key concern in common: how can they acquire, engage and retain the best talent for their business?
Today’s job seekers are looking for more than a tagline; you need to show them who you are. If you do it right, your employer brand will draw great people to your organisation like a magnet, right past your competitors.
Randstad Award Malaysia research
In line with our mission on shaping the world of work, we run the world’s largest employer branding research - the Randstad Award. Now in its 16th year globally, the Randstad Award polls over 200,000 people in 25 countries. In Malaysia, we surveyed more than 4,500 respondents across different industries and demographics. The research aims to measure employees’ key motivations and the attractiveness of an employer brand, and by virtue connect employers to what job seekers are really looking for and help them to refocus their employer brand to better engage with their talent.
From the ranking of these desired attributes job seekers want in their employers, we identified the most attractive companies Malaysian candidates would love to work for. Here are the results from our 2016 research:
Malaysian Millennials prefer job security over work flexibility
One of the most interesting findings from the study is that a third of Malaysian employees aged 18 to 24 actually preferred job security over flexible working schedules. We think it might have to do with the slowing economy - and that the younger workforce who’re entering the workforce for the very first time might be feeling nervous about their jobs. Many of them are actually more concerned about who they would be working for, salaries, career prospects as well as opportunities for training and learning. The question of working hours almost never came up.
Besides such insights, our Randstad Award research also uncovers what job seekers value in an employer, and how employer branding can be used to drive competitive advantage. The good news is that many of our clients have already recognized the value in having a strong employer brand - and how it can be a powerful talent attraction and retention tool.
Key takeaways for organisations
What has also been truly interesting for our clients through this study was realizing what the public perception of their employer brand is. This has led to a number of fruitful conversations around:
- how to attract specific demographics of the working population
- how to highlight the hard work being done by HR to other potential talent - beyond their current employees, as well as
- how they can align their employer value propositions with the 'hard factors' such as salary and benefits, financial health and long-term job security
According to the research, salary and benefits, financial health and job security are currently some of the most sought-after attributes for Malaysians when they’re looking for a new job / employer.
Other key insights from the research:
- The proliferation of social media platforms and their use was a significant theme this year, particularly with employers trying to figure out how best to leverage the various channels available to build and engage with their talent community.
- What do Millennials, the newest entrants into the workforce, really want and why?
- How can companies measure the return on investment for an employer branding campaign and how long will this investment last?
I’m proud to say that the first edition of Randstad Award Malaysia has been extremely well-received, and the insights from this research will continue to provide our clients with a solid roadmap on developing their employer brand promise.
If you would like a copy of this inaugural employer branding research for Malaysia, please submit a request at http://www.randstad.com.my/about-randstad/request-report
Meanwhile, you might like to check out a recent interview I did with BFM Radio - which touched on some of the Randstad Award research, as well as my take on why Malaysian Millennials are choosing job security over flexibility.
BFM Radio Interview: Malaysian Millennials Prefer Security
If finding exceptional leaders and senior professionals remains a key challenge for your business, I'd be happy to offer some insights on how other companies in your space have been successful in attracting and retaining key talent. Let us know how we can help.
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Posted: Thursday, 15 September 2016 - 6:21 PM