More than just accolades, LAWA presents an important way to promote workplace excellence and employee well-being, because it serves to shape the future of work.
THIS year presents the right time for Talent Corporation Malaysia Bhd (TalentCorp) to continue its Life at Work Awards (LAWA).
The award was one of TalentCorp’s key transformative initiatives that made an impact on the business world from 2013 to 2019, before going on hiatus due to the Covid-19 pandemic.
The event now reopens to recognise companies that excel in incorporating diversity, equity and inclusion (DEI) in their workplace, and aligns with the evolving demands of the future of work, the workplace and the workforce.
It recognises organisations that exemplify outstanding practices and achieve notable milestones, by celebrating organisations that are committed to:
> Advancing work opportunities in alignment with the Fourth Industrial Revolution for their employees.
> Creating a more conducive and progressive workplace.
> Ensuring the long-term relevance of their workforce by equipping them with digital knowledge and skills.
Submissions were open since June 12 this year to organisations of all sizes from a variety of industries in Malaysia, with 30 winners from eight categories, and closed on Aug 31.
Judging concluded on Oct 6 and the gala dinner and award ceremony will soon commence.
The winners serve as inspirational benchmarks for organisations seeking to enhance their dedication to their employees and the broader community.
Winning or being nominated confers companies the recognition, prestige and external validation for their efforts, as well as bestows credibility and respect within their industry and peers.
Awardees can also display the Life at Work brandmark – an emblem that attests that their DEI practices are innovative workplace strategies.
More than just accolades, LAWA presents an important way to promote workplace excellence and employee well-being, because it serves to shape the future of work.
‘A positive environment can have a significant impact on how employees perceive their roles, interact with co-workers and approach their tasks,’ says Mathew.
Such work-life practices (WLP) are not trends but blueprints for how work is done in today’s dynamic landscape.
The pandemic has transformed traditional work environments.
It highlighted the significance of remote work as a global necessity, as well as a new perspective on work arrangements.
Since then, the adoption of WLP and flexible work arrangements (FWA) has gained traction among Malaysian organisations.
These practices proved to be instrumental in adapting to the changing work landscape.
The awards encourage businesses to exchange best practices and learn from one another – setting the bar for efficient WLP strategies that improve talent attraction, retention and long-term talent sustainability.
Gender inclusion
According to TalentCorp group chief executive officer Thomas Mathew, having a healthy workplace is critical for the overall well-being of employees and plays an important role in contributing to Malaysia Madani’s economic growth and development.
A diverse workforce, with a wide range of backgrounds and experiences, encourages creativity and innovation.
Organisations benefit by promoting diversity, as it not only attracts a larger talent pool, but also enhances their reputation as inclusive and forward-thinking employers.
To attract the best professionals, companies should establish a strong employer brand that highlights a positive work environment, career growth opportunities, and a commitment to innovation.
Utilising digital platforms and social media is essential for showcasing this brand and engaging with potential employees.
In today’s knowledge-driven economy, embracing diversity and inclusivity is crucial to attract top talent.
A diverse workforce promotes creativity and innovation, expanding the talent pool and enhancing the organisation’s image as an inclusive and forward-thinking employer.
The recent analysis from McKinsey confirms that having diverse gender and ethnic backgrounds in corporate leadership is not only beneficial for businesses, but is also increasingly so.
Companies with the most diversity are now more likely than ever to perform better financially.
In 2019, McKinsey discovered that companies with the highest gender diversity in their executive teams were 25% more likely to achieve above-average profitability, compared to companies in the lowest quartile.
This is an increase from 21% in 2017 and 15% in 2014.
Furthermore, the research found that the greater the representation of women in executive roles, the higher the chances of financial success.
Companies with over 30% women in executive positions are much more likely to outperform those with 10 to 30% women, and these, in turn, outperform those with fewer or no women in executive roles.
As a result, there is a significant performance gap of 48% between the most and least gender-diverse companies.
TalentCorp plays a vital role in promoting Malaysia and attracting top talent, including Malaysians living abroad.
The organisation also supports women in the workforce, in line with the Madani Economy’s goal of achieving a 60% Female Labour Force Participation Rate, as announced in the 2024 budget.
“A positive environment can have a significant impact on how employees perceive their roles, interact with co-workers and approach their tasks,” said Mathew.
A contented workforce is more likely to excel in their roles, leading to career advancement opportunities.
The mood and attitude of individuals within a workplace can influence their team members.
Positive reinforcement from employers can make the workers feel valued and encourage them to consistently contribute to the company’s success – potentially leading to raises and promotions.
The promotion of healthy work environments and workplaces not only addresses the pressing issue of mental health, but also plays a pivotal role in the development of the Madani Economy.
By prioritising employee well-being and job satisfaction, organisations can contribute to increased productivity, enhanced employee success and a prosperous economic landscape for all rakyat.
THIS year presents the right time for Talent Corporation Malaysia Bhd (TalentCorp) to continue its Life at Work Awards (LAWA).
Being a tech-savvy generation, Gen Z is poised to bring significant changes and disruptions to the workplace.
Their presence will compel leaders to prioritise mental health and adapt to their digital-native nature.
As Gen Zers have grown up communicating online, their interpersonal or soft skills may have suffered, which was further exacerbated by the impact of Covid-19.
This shift in their needs necessitates a different approach to how we engage with them in a professional setting.
A new Upwork survey reveals that 90% of Gen Z are inclined to reshape work towards remote options as a critical factor in their job choices.
In comparison, this trend is observed in only 71% of Gen Xers and 59% of Baby Boomers.
This research emphasises the increasing influence of Gen Z in the workforce and serves as a reminder to business leaders that they need to address the unique challenges and concerns specific to this generation in the job market.
To effectively work with Gen Z, companies should refine their strategies. Utilising tech tools like ChatGPT and social media platforms can contribute to their success.
Additionally, mentorship programmes and a supportive organisational culture will play a pivotal role in accommodating this emerging workforce.
TalentCorp collaborates with ministries, agencies, training institutions and industry partners to enhance local talent development initiatives, with the aim of building a talent pool prepared for the future.
This is why TalentCorp is actively engaging with universities and schools, to ensure that the upcoming generation, Gen Zers, can effectively prepare for the evolving demands of the workforce.
The development of a dynamic national skills framework is a proactive measure to address skills mismatches in the labour market and complement the Critical Occupations List.
“Our vision for the Life at Work Award is for it to become a driving force behind positive workplace transformation in Malaysia.
“I believe that by recognising and celebrating organisations that prioritise their employees’ well-being and by inspiring others to follow suit, we can create a more inclusive, productive and thriving Malaysian workforce for years to come,” says Mathew.
To learn more about the Life at Work Awards, go to lifeatwork.my
