Employers in Malaysia are prioritising skills and financial well-being more than regional and global counterparts, according to research by Mercer.

In Malaysia, 63% of companies surveyed provide flexible working options for all their employees, significantly higher than in Asia, 50%, and globally, 56%.

Also, 35% of Malaysian employers are adjusting pay or offering cost-of-living adjustments to those earning below the market median, compared to the Asia average of 20%. In addition, 30% of Malaysian employers are providing wage increases for employees most impact by markets, compared to 22% in Asia.

However, companies in Malaysia lagged slightly when delivering total well-being initiatives for all their employees. For example, 35% of employers in Malaysia are redesigning work with well-being in mind, such as introducing no-meeting days (versus an Asia average of 39%), and only 21% of Malaysian companies (versus an Asia average of 26%) have provided on-demand access to virtual mental healthcare. On the flip side, Malaysia (18%) fared better than Asia (14%) in investing in financial wellness programmes that boost long-term financial security for their employees.

More could also be done to provide job security for gig/freelance workers, according to Mercer. It found 71% of Malaysian employers indicated they do not have such initiatives versus an Asia average of 46%.

Companies in Malaysia (61%) also outperform Asian firms in general (56%) in understanding the talent development needs across the organization. Mercer found that 47% of employers reported that their upskilling and reskilling programs were effective at preparing talent to move into new areas (versus an Asia average of 33%).