The Malaysian Employment Act and the Top 5 Reasons Why the Flexible Benefits Model is Critical

With effect from the 1st of January 2023, Datuk Seri Saravanan Murugan, introduced the updated Employment (Amendment) Act 2022 during his tenure as the Minister of Human Resources in 2022. The amended Employment Act was established with the goal of helping Malaysians lead a more balanced lifestyle with greater emphasis placed on employee welfare and benefits, including a decrease in the maximum number of working hours and increased paid maternity and paternity leave for all Malaysian employees. How then can organisations ensure their relevancy and competitiveness in the changing talent scene?

The future of the talent scene in Malaysia

As the country gravitates towards an employee-first era, organisations should aggressively adapt to these changing demands to remain relevant and competitive when attracting talent. With the Malaysian Employment Act marking the start of a new era in the talent scene, employee benefits such as flexible work arrangements, health benefits and welfare benefits are now at the crux of employee attraction and retention.

Though providing employee benefits is not a new term for many organisations, the implementation of the right employee benefits model has improved over the years leading to the development of the flexible employee benefits model - a highly personalised yet cost-effective model. Organisations that have adopted the model have observed greater company culture and increased employee productivity, placing them at the forefront of the talent scene in Malaysia.

Download this ebook to explore how organisations can future-proof their workforce by adopting the flexible employee benefits model.