89% Of Malaysians With Poor Financial Well Being Look To Change Job 

The launch of AKPK's research report on Employee Financial Well-Being and Productivity. Pictured (L-R): Azaddin Ngah Tasir (CEO of AKPK), Dato Lukanisman Awang Sauni (Deputy Health Minister), and Datuk Wira Shahul Dawood (CEO of HRD Corp)

Agensi Kaunseling dan Pengurusan Kredit (AKPK) kicked off its inaugural Financial Well-Being Conference today at Bank Negara Malaysia’s Sasana Kijang, aimed at empowering HR practitioners from agencies and corporations across Malaysia. Themed “Level Up! Your Mind, Your Body, and Your Money,” the two-day event gathered industry leaders to delve into the integral link between physical, mental, and financial health in enhancing workplace productivity.

Deputy Health Minister, YB Dato Lukanisman Awang Sauni, honoured the occasion with his presence and underscored the pivotal role of employee well-being in driving organisational success. He emphasised that mental wellness and financial stability are critical pillars contributing to a conducive work environment, ultimately influencing job performance positively.

In his welcome address, AKPK’s CEO, Azaddin Ngah Tasir, highlighted findings from AKPK’s Financial Education Wellbeing Research Centre (FEWRC) report titled ‘From Nine to Five: Navigating Employees’ Financial Well-Being at the Workplace’. The report revealed that a staggering 26% of Malaysian Working Adults experience financial stress, with 65% reporting its adverse impact on job performance, demonstrating a clear need for enhanced financial literacy and management skills.

The FEWRC report further illustrated that 70% of Malaysian Working Adults with lower financial well-being tend to underperform, contrasting sharply with 78% of those with higher financial well-being who exceed productivity expectations. Azaddin stressed, “Improving financial well-being not only enhances productivity but also fosters employee loyalty. Our research shows that 91% of MWAs with high financial well-being are loyal to their companies, underlining the profound connection between financial security and workplace commitment.”

Despite the evident benefits, there remains a significant gap in the provision of financial education. While 74% of Malaysian working adults expressed interest in financial courses, only 48% of companies surveyed offered such programmes. Azaddin advocated for organisations to prioritise integrating financial well-being initiatives into their corporate strategies to bolster productivity and staff retention.

 Discourse on ‘Developing a Culture of Continuous Learning and Growth’, moderated by Shabana M. Hassan, with Datuk Wira Shahul Dawood, Chief Executive of HRD Corp, and Zainubiah Abd Aziz, Head of Talent Development at the Petronas Leadership Centre

The conference featured insights from industry stalwarts including Datuk Wira Shahul Dawood, CEO of HRD Corp, who shared strategies on fostering holistic employee health and career advancement. Public figures such as Datuk Shalin Zulkifli, fitness expert Kevin Zahri, and comedian Douglas Lim also contributed to the discussions on personal growth and professional development.

The event concluded with a poignant video presentation by AKPK’s CEO, set amidst the serene backdrop of a forest, reaffirming AKPK’s commitment to promoting financial resilience and well-being among Malaysians. The conference marks a significant step towards cultivating a financially empowered workforce capable of driving sustainable growth in the nation’s corporate landscape.

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