May 27, 2009

Survey: Cash bonus is most valuable job benefit

Generation-Y employees rate cash bonuses, job flexibility and mobility as their top wants in their line of work.

A PricewaterhouseCoopers (PWC) survey titled "Malaysia's Gen Y unplugged", found that 49 per cent of those polled said cash bonuses was the most valuable job benefit.

About 91 per cent said they would work across geographic borders while 58 per cent desired flexible working hours.

The survey polled Gen Y employees on their career expectations now and in 2020. Gen-Y refer to individuals born from 1980 onwards and entered the workforce after July 1 2000.

Gen-Y, who are sometimes misunderstood, may be difficult to manage.

"However, they make up a sizeable portion of today's workforce and have the potential to help organisations take on the upswing fully prepared," PWC said in a statement issued yesterday on its survey.

PWC advisory service Malaysia executive director Lim Chin Han said the talent war was alive and thriving in Malaysia.

"Due to the downturn, employers have an opportunity to bring in new talent which previously might not have been available to them and try out different hiring strategies," he said.

The survey found that Gen-Y employees also value coaching and mentoring and on-the-job training over formal training mechanisms.

This indicates a departure from traditional reward and development methodologies.

Meanwhile, corporate responsibility is high on Gen-Y's agenda as 86 per cent of the respondents look for employers with social responsibility values that reflect their own.

Roughly 77 per cent would consider leaving an employer whose values no longer reflect their own.

Gen-Y is also big on gender diversity, as 66 per cent feel future income streams would come equally from themselves and their partners.

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