Msian workers motivated to work for share in employer’s equity
August 18, 2010 by admin
Filed under News Bites
A recent survey revealed that more than three-quarters of the Malaysian workforce believe they will be more productive if they have some form of ownership in their employers’ business. Workforce solution firm Kelly Services, in their Kelly Global Workforce Index (KGWI), found that 85 per cent of respondents felt that profit-sharing or an ownership stake would motivate them to perform better.
The survey also revealed that slightly less than two-thirds of the respondents’ pay is tied to performance targets. Generation (Gen) Y (aged 18-29) and Gen X (aged 30-47) employees are much more likely to be on some form of performance-based pay than those in the Baby Boomer generation (aged 48-65).
Kelly Malaysia managing director, Melissa Norman, stated:
Many employees are actually quite comfortable about some element of their compensation being tied to their individual or group performance… This indicates that many are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity.
The KGWI study covered views from about 134,000 people, including almost 2,000 in Malaysia.
The annual survey found that of those not receiving performance pay in Malaysia, more than two-thirds said they would be more productive if they had their earnings linked to performance outcome.
It was found that industries with the highest rates of performance-based pay were government, travel/leisure and financial services.
The survey also found strong support for employers to take a greater role in improving their workers’ health, with almost three-quarters of respondents saying employers should provide incentives to encourage a healthier lifestyle such as quitting smoking, losing weight or taking up exercise.
Besides salary, the benefit that rated most highly was training, followed by health benefits, flexible hours and retirement benefits. Some 95 per cent of those surveyed said that health initiatives should be part of their employment package.
About 134,000 people from North America, Europe and Asia Pacific responded to the 2010 KGWI survey, with results published on a quarterly basis.
