03 Nov 2016 09:13:00 AM

Better LIFE@WORK with The Winning Formula

If greater Diversity and Inclusion (D&I) in the workplace drive better performance and productivity, why haven't more companies offered support structures such as Flexible Work Arrangements (FWAs) in order to enhance D&I in their businesses?

This question was posed by TalentCorp Malaysia's CEO Shareen Shariza Dato’ Abdul Ghani earlier this year, referencing the PwC-TalentCorp Diversity in the Workplace Survey 2015*, where less than 35% of Malaysian public listed organisations surveyed offered FWA practices, and only 10% planned to enhance or implement FWAs within the following year.
Aligned with the objective of inclusiveness in the 11th Malaysia Plan, which emphasises Malaysia’s diversity as a source of strength, the LIFE@WORK Awards 2016 recognise the progress made by Corporate Malaysia in championing FWAs to create a Diverse and Inclusive workforce. 

Far from being a passing trend, FWAs represent the future of how work is done and what the workforce of the future expects. Organisations benefit from FWAs through higher engagement and satisfaction rates from their employees, which are reflected too in their bottom lines. A study by EY found that the increased adoption of FWAs in companies in Australia could have resulted in the creation of USD1.4 billion of value in increased productivity**. 

At the LIFE@WORK Awards 2016 ceremony held on 24 October, Maybank Group walked away with the Platinum Award, a category reserved for an organisation that has won a LIFE@WORK award for three consecutive years. Fellow winners include:
  • Digi Telecommunications (Best Malaysian Organisation)
  • Intel Malaysia (Best International Organisation)
  • Johnson & Johnson (Best Lean Organisation)
  • Gamuda Bhd (Best Initiative)
  • Telekom Malaysia (Best Initiative), and 
  • Chong Chye Neo of IBM Malaysia (CEO Champion
Meanwhile Sunway Group and Berjaya Starbucks Coffee Company received special mentions for their initiatives on gender diversity and people with disabilities (PWD) respectively.

LIFE@WORK 2016 also received a record participation of 29 companies – an increase from 21 companies in 2015 – across 13 different sectors. These companies, inducted as LIFE@WORK Honourees, are Accenture Malaysia, AXA Affin General Insurance, Chevron Malaysia, Dell Global Business Centre, DKSH Malaysia, Eco World Development Group, First Solar Malaysia, General Electric, GlaxoSmithKline Consumer Healthcare, Group M, Hewlett Packard Enterprise, IHS Markit, IJM Corporation, KPMG, Nestle Malaysia, Proctor & Gamble (Malaysia), PwC Malaysia, RHB Banking Group, Shell Business Operations Kuala Lumpur and Unilever Malaysia.

In his keynote address, Minister in the Prime Minister’s Department, YB Datuk Abdul Rahman Dahlan encouraged LIFE@WORK winners and honourees to be firm advocates of FWAs, especially to other employers who are not on board as yet.
The LIFE@WORK 2016 showcases the commitment of Malaysian employers in helping Malaysia move closer to its high-income status whilst creating an environment that maximises the potential of all employees.”
Lauding these companies for their “investment of time, effort and resources in championing FWA and other work-life strategies”, Datuk Abdul Rahman also launched the MY Work, MY Future: Embracing The Winning Formula for Flexible Work Arrangements report. The report, draws on TalentCorp’s work with leading employers since 2013, highlights the five steps that have helped Malaysian employers achieve improved employee engagement and business productivity through FWAs. 

He went on to call for more Malaysian companies to join the circle of LIFE@WORK employers, and continue to innovate to include other under-represented groups in the workforce so they too will benefit from our country’s growth.  
If Malaysia’s strength lies in our diversity, then it’s time that we harness this strength together.”

Read more about The Winning Formula at our website here.
* Data sourced from Diversity in the Workplace Survey 2015, PwC-TalentCorp.
** Data sourced from Untapped Opportunity – The Role of Women in Unlocking Australia’s Productivity Potential, 2013, EY.