{"id":7699,"date":"2022-07-29T09:03:09","date_gmt":"2022-07-29T09:03:09","guid":{"rendered":"https:\/\/www.boardroomlimited.com\/my\/?p=7699"},"modified":"2023-11-22T12:04:58","modified_gmt":"2023-11-22T04:04:58","slug":"the-importance-of-employee-engagement-in-a-hybrid-world","status":"publish","type":"post","link":"https:\/\/stg.boardroomlimited.com\/my\/2022\/07\/29\/the-importance-of-employee-engagement-in-a-hybrid-world\/","title":{"rendered":"Never Underestimate the Importance of Employee Engagement in a Hybrid Working Malaysia"},"content":{"rendered":"

[vc_row full_width=”stretch_row” css_animation=”fadeInLeft” el_class=”business-insights-content”][vc_column][vc_row_inner][vc_column_inner][vc_column_text el_class=”m-b-50″]In the wake of the global shift brought about by the COVID-19 pandemic, the dynamics of the workforce have evolved significantly. Understanding the changing landscape, particularly in Malaysia, is crucial for businesses striving to foster employee engagement in this post-COVID era.<\/p>\n

The “Great Resignation” phenomenon, as highlighted by Microsoft\u2019s 2022 Work Trend Index, remains a noteworthy factor. It emphasises the need for businesses to adapt and prioritise employee engagement, as 41% of the global workforce<\/a> is likely to consider leaving their current employer within the next year, with workers looking for better c<\/span>onditions, more engaged teams and a greater sense of purpose.<\/p>\n

At the same time, the cost of hiring is rising. The latest research has found the average cost of recruiting has doubled<\/a><\/span> in some parts of the world. And it takes at least a week longer to recruit someone than it did 12 months ago.<\/p>\n

In many cases, it has become harder \u2013 and more expensive \u2013 to find and hire new people than it is to retain your current employees.<\/span><\/p>\n

With these figures in mind, the importance of employee engagement in a hybrid working Malaysia simply cannot be underestimated.<\/span>[\/vc_column_text][vc_custom_heading text=”The hybrid working Malaysia engagement juggle” use_theme_fonts=”yes” el_class=”m-b-20″][vc_separator color=”custom” align=”align_left” border_width=”3″ el_width=”10″ accent_color=”#4f9e45″ el_class=”m-b-20″][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=”1\/2″][vc_column_text el_class=”m-t-20 m-b-50″]Remote and hybrid work has become the preferred way of working in Malaysia, with 77% of workers<\/a> indicating they want flexible remote work options to stay. In response, 62% of business leaders<\/a> are considering restructuring their offices to suit a hybrid working Malaysian team.<\/span><\/p>\n

Employers are under pressure to provide an exceptional experience for their people, wherever they may be: in the office, at home, or working from the local cafe. Achieving this is becoming increasingly hard when people are not physically together or even working the same 9 to 5 schedule.<\/span>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_single_image image=”7710″ img_size=”full” alignment=”center” alt=”AGM Logistics” css=”.vc_custom_1658816221221{padding-bottom: 30px !important;padding-left: 30px !important;}”][\/vc_column_inner][\/vc_row_inner][vc_custom_heading text=”5 ways to encourage employee engagement in the hybrid world of work” use_theme_fonts=”yes” el_class=”m-b-20 m-t-20″][vc_separator color=”custom” align=”align_left” border_width=”3″ el_width=”10″ accent_color=”#4f9e45″ el_class=”m-b-20″][vc_column_text el_class=”m-b-20″]When we\u2019re not physically together, many leaders are left wondering\u00a0how to increase employee engagement.<\/p>\n

Here are five ways how to increase employee engagement to keep employees connected and engaged wherever they may be.<\/span>[\/vc_column_text][vc_custom_heading text=”1. Bridge the physical and digital worlds with technology” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b-20″ css=”.vc_custom_1658805070413{padding-top: 20px !important;}”][vc_column_text el_class=”m-b-50″]Having reliable technology in place to enable collaboration and efficient work processes is fundamental to creating an efficient and frictionless employee experience. The last thing you want is for your people to be dealing with frustrating technology issues when they could be making progress on real work.<\/span>\u00a0<\/span><\/p>\n

Automating repetitive tasks and introducing self-service portals empower people to take control of simple tasks, like booking their own leave, accessing payslips and updating contact details. By optimising the user experience with easy-to-use applications, simplified central logins and cloud-based systems, your employees will be able to immediately access and update their data from anywhere, at any time.<\/span><\/p>\n

Consider streamlining your core functions like payroll<\/a>, finance and HR to free up your people to focus on collaboration and employee engagement strategies. <\/span>\u00a0<\/span><\/p>\n

And, of course, having platforms in place to enable collaboration is crucial. Make sure you are set up for what Google refers to as \u201ccollaboration equity<\/a>\u201c. That is, ensuring everyone can contribute and communicate equally, regardless of location, role, experience level, language, or device preference.<\/span>[\/vc_column_text][vc_custom_heading text=”2. Prioritise wellness” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b–20″][vc_row_inner el_class=”m-t-50″][vc_column_inner width=”1\/2″][vc_single_image image=”7714″ img_size=”full” alignment=”center” alt=”AGM Logistics” css=”.vc_custom_1658817072333{padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 0px !important;}”][\/vc_column_inner][vc_column_inner width=”1\/2″][vc_column_text el_class=”m-b-50″]While hybrid working undoubtedly has its benefits, it also comes with some downsides.<\/p>\n

We’re seeing a blurring of boundaries between work and life, a weakening of social bonds with colleagues and a greater push for productivity from employers. And this is causing high levels of burnout, which has an impact on not only employees but businesses as well.<\/p>\n

Analyst firm Gallup estimates employee burnout costs USD $322 billion<\/a> in turnover and lost productivity globally.<\/p>\n

The good news is that companies that prioritise employee wellbeing are being rewarded with more productive and engaged employees.<\/p>\n

Companies that adopted key wellness initiatives such as stress management initiatives, adapted workplace design and financial education saw employee loyalty improve by 79%<\/a>.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_custom_heading text=”3. Acknowledge and Show Employee Appreciation” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b-20″][vc_column_text el_class=”m-b-50″]Publicly celebrating accomplishments might involve regular team shout-outs in virtual meetings, spotlighting achievements in company newsletters, or hosting virtual events to honour milestones. Establishing a culture of peer-to-peer recognition could involve platforms or channels where team members can acknowledge and commend each other’s efforts.<\/p>\n

For instance, a dedicated Slack channel for shout-outs or a monthly newsletter highlighting peer recognition contributes to a positive and appreciative work environment. These measures collectively foster engagement, which is particularly crucial for those managing the dynamics of hybrid roles.[\/vc_column_text][vc_custom_heading text=”4. Promote Employee Development and Growth” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b-20″][vc_column_text el_class=”m-b-50″]To promote continuous learning and growth, organisations can offer diverse training opportunities. This might include workshops on effective virtual collaboration, seminars on time management in a hybrid setting, or access to specialised online courses related to industry trends. Encouraging professional development could involve supporting employees in obtaining relevant certifications or sponsoring attendance at virtual conferences. Utilising feedback surveys and performance metrics allows organisations to gather insights on the effectiveness of these initiatives.<\/p>\n

For instance, a post-training survey could assess the perceived impact on job performance and satisfaction. Organisations can then tailor future programs based on this valuable feedback, ensuring that employee development remains aligned with their evolving needs and aspirations.[\/vc_column_text][vc_custom_heading text=”5. Reward your team” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b-20″][vc_column_text el_class=”m-b-50″]Being paid on time is vital. And people\u2019s experience with pay directly impacts how they feel about working with an organisation.<\/p>\n

If people have continual issues with your current systems \u2014 for example, difficulty accessing payslips or being unable to update important details \u2014 you might want to look into how to fix this problem. Having a system in place to make sure your people get paid accurately and on time will ensure they are motivated and engaged. And that\u2019s whether you choose to implement a payroll solution or outsource your payroll to professionals<\/a>.<\/p>\n

Optimising your software applications to benefit your employees and simplify their day-to-day operations, will ultimately give them more control and empowerment in their role.<\/p>\n

Mechanics aside, how much you pay people also matters.<\/p>\n

The cost of living is rising steadily, and employers need to keep pace with rising costs of food, petrol and living expenses to make sure their people are taken care of.<\/p>\n

If you have limited funds to pay bonuses or increase salaries, an alternative is offering employees a stake in the company in the form of shares or stock options.<\/p>\n

Offering equity in the company means employees start seeing the business in a different light. Rather than simply clocking in and out and completing tasks, they begin to think of how to move the business forward in a meaningful way and increase revenue.<\/p>\n

Equity can come in many forms, but leading companies in Malaysia are adopting employee stock option plans (ESOP)<\/a>.[\/vc_column_text][vc_row_inner el_class=”m-t-50″][vc_column_inner][vc_custom_heading text=”What is an employee stock option plan?” use_theme_fonts=”yes” el_class=”m-b-20″][vc_separator color=”custom” align=”align_left” border_width=”3″ el_width=”10″ accent_color=”#4f9e45″ el_class=”m-b-20″][vc_column_text el_class=”m-b-50″]An employee stock option plan (ESOP) gives employees the opportunity to purchase company shares at a future date for an agreed price. An ESOP differs from an employee share award plan in that it gives employees the option to buy shares instead of simply enabling them to purchase those shares outright.<\/p>\n

Because ESOPs give employees financial benefits when the company performs well, they are more likely to be invested in the long-term success of the company.<\/p>\n

There are many benefits of offering an ESOP for both employees and business leaders.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=”1\/2″][vc_column_text el_class=”m-b-50 m-t–20″]ESOPs help employees:<\/strong><\/p>\n