New data from Brand Finance reveals top considerations in Malaysia when joining or leaving an employer, and what brands are rated the best place to work.

In Malaysia, the allure of competitive salaries and enjoyable work draws in job seekers, but retaining employees hinges significantly on the company’s ability to continuously attract top talent from within the industry, according to new data from Brand Finance, the world’s leading brand valuation consultancy.

According to the Brand Finance 2024 Employer Brand Index (EBI), Malaysian job seekers prioritise competitive salaries, enjoyable work experiences, and a company’s inspiring vision when evaluating potential employers. However, in order to retain employees over the long term, attraction of top talent from within the industry becomes critical, holding the most significance in the decision-making process. This shift suggests that the initial appeal of a company may be based on tangible benefits, but long-term loyalty depends on the perceived quality of the employer’s total workforce and the company’s reputation within the industry.

Maybank emerges as Malaysia’s top employer brand, boasting a commanding EBI score of 92.2 of 100. Particularly noteworthy are its scores for employing top talent and offering great salaries and remuneration, both ranking at 9.2 and 9.3 respectively. These factors have proven to be paramount for retaining its talent pool.

Alex Haigh, Managing Director, Asia Pacific, Brand Finance commented:

“In addition to providing valuable data for talent strategies, the Brand Finance 2024 Employer Brand Index reveals Malaysian employee and candidate perceptions of specific sectors and brands as places to work.

“Maybank stands out as the sole Malaysian brand to break into the global top 10, securing the 10th position. Driven by its strong reputation and high-quality workforce, it tops the charts with scores that are no less than 7.8 on most of the key drivers that job seekers take into consideration when applying for jobs in the Malaysian market.”

Other highlights from the Malaysia perceptions data:

  • PETRONAS ranks 2nd among Malaysian employers with a score of 78.8. They excel with a perfect 10 for their inspiring vision, 9.9 for outstanding company culture, and 9.8 for commitment to environmental sustainability.
  • Telecommunications brands dominate the upper echelons of Malaysia’s EBI, with Maxis, Digi, Celcom, Unifi, and Telekom Malaysia capturing the 4th through 8th positions respectively.
  • The Malaysian workforce highly values flexibility in the workplace, whether through hybrid models or fully remote options. This preference is evident as flexible work arrangements consistently rank 5th in importance for both job seekers and employees retaining their roles with an existing employer.
  • In the 2024 edition of Brand Finance’s Global Soft Power Index, Malaysia advanced to the 35th position among 193 countries, compared to its 39th placement in 2023. Among other factors, this ascent signifies a notable boost in Malaysia’s appeal as a workplace

The Brand Finance 2024 Employer Brand Index is the result of a survey of part-time or full- time employees in 16 countries, responding about brands within the sector of their current employer headquartered in the country they live in. The focus was to discover which employer brands within their own markets are rated the highest, and what are the considerations prospective employees have when considering whether to apply for a new role. The study covered a total of 64 brands in Malaysia.