Employment Hero Survey Reveals Malaysians Are More Concerned With Financial Stability Than Their Health

Employment Hero recent Global Report 2021, “The impact of Covid-19 on Business Owners and Employees” revealed that the Malaysian workforce are mostly concerned of their financial wellbeing more than physical health and mental health.

The report which gathered the perspective of more than 1,000 Malaysian employers and businesses alike found that 71 percent of Malaysian employees are worried about their financial well-being over concerns for their physical health (66 percent) and mental health (62 percent). 

According to the survey, Malaysians representing the 62 percent, are concerned about their mental health compared to workforce in other countries such as Singapore (50 percent), the United Kingdom (49 percent), New Zealand (46 percent), and Australia (46 percent) indicating lower levels of concern. There is a significant increase between demand for mental health support and what employers alternatively giving to the workers.

Meanwhile, many companies believe they are supportive of their employees’ mental health (74 percent), while just 56 percent of employees agree. When it comes to measurement, 59 percent of employers stated they have the resources to track mental health issues in the workplace, while just 48 percent of employees agreed.

Ben Thompson, Chief Executive Officer and Co-founder of Employment Hero said, “Companies who intend to continue working remotely or flexibly post-Covid will need to make work-life balance, mental health and overall employee wellness initiatives a priority in the organisation. Lack of clear structures, workflows and internal open communications is adding unnecessary stress on employees that are already struggling to cope with general pandemic-related anxiety.”

Additionally, when Malaysian employees were asked what employers could do to support their mental health, 70 percent identified a healthy work-life balance as their preferred initiative, followed by company-provided counselling services (57 percent) and increased health and wellness benefits (55 percent).

The survey also discovered that 59 percent of employees who have been working from home since before the pandemic reported being stressed, compared to 64 percent of employees who reported being upset after being forced to work remotely because of the pandemic. This data highlights the significance of well-managed communications and employer transitions to remote employment.

“We can see that employees who worked remotely prior to the pandemic are faring considerably better due to the proper design and execution of remote working structures. With remote working is here to stay globally and maybe in the future, companies must take action and set proper procedures and communication channels to safeguard the well-being of their employees,” Ben added. 

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