The 2021 Randstad Malaysia’s Employer Brand Research revealed that 72% of Malaysians ranked ‘attractive salary & benefits’ as the most important employee value proposition (EVP) they seek in an ideal employer. ‘Work-life balance’ comes in a close second at 69%.
Commissioned by Randstad and independently conducted by Kantar TNS, the Randstad Employer Brand Research explores the top EVP factors that influence employees and job seekers in their search for a new career.
The issue of unmatched salary expectation is not new, yet it’s the most complex to resolve. There are many factors that come into play when it comes to salary calculation, such as salary legacy, cost of the rising standard of living, mismatch in skills and experience, gender disparity and more. Employers need to conduct regular audits to ensure salary equality and competitiveness, and find out if their investment in skills development of their workforce is adequate enough to retain their high performing talent.
top 5 employee value propositions in 2021
Employees and job seekers are increasingly looking to their employers to tide them through the COVID-19 pandemic, particularly to protect their income and ensure job stability. A strong management has a critical role to play in ensuring good corporate financial performance and a COVID-19 safe work environment to keep their employees safe. This means being able to take actions quickly to protect the business and their workforce, even if they have limited information to work with.
work-life balance remains the most unmet candidate expectation
The survey revealed that 73% of female respondents value work-life balance in their search for an ideal employer. In comparison, 65% of male respondents see work-life balance as an important EVP factor.
Women are also more attracted to ‘softer’ EVP factors, ranking ‘COVID-19 safe work environment’, ‘pleasant work atmosphere’, ‘location’ and ‘possibility to work remotely’ higher than men.
“As more and more women join the workforce, it is essential for employers to create a safe working environment. As female employees tend to seek different factors than men, it is therefore critical for HR professionals to develop fair and equal HR policies and benefits that address the needs and aspirations of both genders,” Naeem shared.
1 in 4 gen-Zers and millennials intend to switch employers in 2021
Prior to the COVID-19 pandemic, 17% of respondents switched employers. Between July and December of 2020, only 11% of respondents switched employers.
The study also found that 23% of respondents have plans to switch employers in 2021. Millennials are the most likely to switch employers with 28% of them looking to do so. This is followed by 24% of Generation-Z workers.
Naeem explains, “Many of our Millennials and Gen-Z workers are self-taught digital natives. They know the latest social media trends, how to work their way around new technologies and are excited by the idea of being able to try new things. As companies bring their digital transformation strategies forward, it creates the perfect moment for Millennials and Gen-Zers to explore new job opportunities. Companies that are lagging behind their digital initiatives will need to step up quickly in order to attract and engage the younger generation of workers.”
2021 randstad malaysia employer brand research report is now available
The 2021 Randstad Employer Brand Research provides employers with a unique opportunity to uncover new insights and validate their assumptions of employees and job seekers. This independent research is the most representative employer brand study in the world, reaching out to more than 190,000 respondents across 34 markets, including 2,523 who are based in Malaysia in January 2021.
Fill in the form on the right to download the complimentary digital report.