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Employers prioritise skills and financial well-being more than regional and global counterparts

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Study reveals 63% offer flexible working

Mercer’s research shows that Malaysian employers are placing a greater emphasis on skills and financial well-being compared to their regional and global counterparts. The study found that 63% of companies in Malaysia offer flexible working options for all employees, which is significantly higher than the Asia average of 50% and the global average of 56%. In addition, 35% of Malaysian employers are adjusting pay or providing cost-of-living adjustments to those earning below the market median, compared to the Asia average of 20%.

However, when it comes to total well-being initiatives for all employees, companies in Malaysia are slightly lagging behind. Only 35% of Malaysian employers are redesigning work with well-being in mind, while just 21% have provided on-demand access to virtual mental healthcare. On the other hand, Malaysia is doing better than Asia in investing in financial wellness programs, with 18% of companies offering such initiatives compared to 14% in Asia.

The study also found that more needs to be done to provide job security for gig/freelance workers, as 71% of Malaysian employers do not have such initiatives compared to an Asia average of 46%. However, Malaysian companies outperform their Asian counterparts in understanding talent development needs, with 61% of companies in Malaysia compared to 56% of Asian firms. Finally, the study found that 47% of Malaysian employers reported that their upskilling and reskilling programs were effective at preparing talent to move into new areas, compared to an Asia average of 33%.

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