Why Employees Stays in a Company
Companies in Malaysia are facing a major shortage of skilled workers that affects business target and performance. Actions taken today by leaders of organisations can make or break the engagement trend in Malaysia. Organisations that have focused on engagement need to step up their efforts to stay on course, and others need to start looking seriously into the activities that can motivate their employees to stay and strive in their jobs, as well as how to attract the best talent from inside or outside Malaysia.
TOP 5 REASONS WHY EMPLOYEES STAYS IN A COMPANY:
- Base Pay/Salary
- Career Progression
- Learning & Development
- Job Security
- Relationship With Superior
#1 BASE PAY/SALARY
Research shows that 42% Malaysians stays in a company they work is because of the salary and benefit package.
Salary is the most important aspect of everyone’s working life, even beyond career advancement opportunities. Cost of living is rapidly increasing and it is more costly than ever to maintain a lifestyle and household especially in Kuala Lumpur. Offering a competitive salary combined with benefits and perks proved to be a good combination in promoting better working habits and reducing employee turnover. Benefits tend to drive employes engagement while providing a sense of security and at the same time can encourage workers to stay on the job.
#2 CAREER PROGRESSION
34% of Malaysians desire career progression in the organisation that they work.
While employees also desire job security and stability, study shows that the availability of career advancement opportunities are one of the most important factors influencing their decision to stay in an organisation. Professionals throughout Malaysia are seeking more option for career progression when considering a new job as financial incentives are not really favourable nowadays. This indicates that financial incentives alone are not enough for employers to retain their top talent. Rather than offering an increased salary, Malaysian employers should be focusing more on learning and development and more on targeted retention strategies to avoid high turnover.
#3 LEARNING & DEVELOPMENT
Research shows that 24% of employees in Malaysia values learning and development opportunities in their workplace.
In this competitive world, training plays an important role in the competent and challenging format of business. Even though employee performance is one of the main crucial measures emphasised by the top management, employees are more concerned about their own productivity and are increasingly aware of the obsoleteness of their knowledge and skills in an ever changing environment. By effectively training and developing employees, they will become more aligned for career growth as career potential enhances personal motivation.
#4 JOB SECURITY
24% of Malaysians place importance on job security.
In general, Malaysian employees rank job security and stability as one of their most important employment criteria. More than half of the Malaysian workforce prefers to work for three or more organisations throughout their career. They may be inclined to leave their organisation for a better job stability and security, career advancement and whether effective leadership are available. The challenge then lies in employers retaining their top talent and keeping them engaged. Research suggest that job security provides employee with high motivation and it affects other motivation levels. Lack of job security has been found to be the reason for high turnover of employees.
#5 RELATIONSHIP WITH SUPERIOR
Maintaining a strong employer and employee relationship can be the key to the ultimate success of an organisation.
It is known that if a strong relationship is in place, employees will create less conflict and become more productive, efficient and loyal. A good relationship with the superior is critical for employees as most of their work time is spent interacting and carrying out their superior’s requirements. Strong employment relations create a pleasant atmosphere within the work environment as it increases employee motivation and can also improve employees morale. Companies that have invested into employee relations programs have experienced increases in their productivity, and therefore the increased productivity leads to increases in profits for the business.
They say that “retention is the new acquisition”. To keep people working for your organisation, be sure you and other members of your management team proactively keep an eye out for signs your employees are disengaged, and make changes to improve employee retention rates where needed. While talent attraction is still vital, retention has become the new focus. It is far less costly to retain than to acquire, and it is worth the effort to keep good employees around.
Our programmes revolve around 3 elements that are Culture, Goals and Leadership. We work closely with you to develop programme framework that provide the right dose of interactions and impact that help develop the right skills and behaviour for people to perform at their best. What’s more important is that we emphasise on the 50% of follow up and coaching session to make it last.