According to a new report from Aon, Malaysia is slowly improving in terms of employee engagement, increasing by four points to 63% this year. However, the country still ranks among the lowest in the region, falling behind their neighbouring countries like Indonesia and Philippines.
The study also revealed, the top five engagement opportunities in Malaysia were work-life balance, career development, diversity and inclusion, rewards and recognition, and employee value proposition.
To stand out from the competition, Malaysian companies should focus on engaging Millennial talent. Only 46% of them felt there is someone in their organisation who provides them with valuable guidance and only 57% thought they have a viable future in their organisation. As millennials reveal these shortcomings, it highlights the engagement opportunities companies can leverage on when looking to attract this generation.
Apart from attracting and retaining the Millennial workforce, the research also pointed out improving engagement pays dividends. A five point increase in employee engagement is linked to a three point increase in revenue growth in the subsequent year.
Vernon Goh, engagement practice leader, Malaysia, talent, reward and performance, Aon, explained: “Increasing engagement is a shared responsibility – senior leadership must encourage their team members to own their engagement levels, by creating an environment where employees are empowered to develop new skills, chart their career journeys, and maximise their potential.”