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Survey: Malaysian businesses say flexible working to become norm

Survey: Malaysian businesses say flexible working to become norm

12 Nov 2020

With the COVID-19 pandemic still raging like wildfire, it has changed the way businesses are conducted worldwide to one that needs greater agility and new thinking.

In Malaysia, more than three-quarters or 79% of businesses have identified some form of flexible working arrangement, adapting to new standards for their business in this trying times.

This is evident as 62% of companies are now conducting virtual meetings, external and internal, while 45% have adopted the working-from-home system, according to a HSBC survey.

“The COVID-19 crisis is accelerating change at a rate we have not witnessed before. To remain competitive, businesses need to adapt quickly to new ways of working,” said HSBC Malaysia chief executive officer Stuart Milne.

Moving forward, Malaysian business also see technology as key enabler to the new norms.

About 79% of them think technology will increase the incidence of flexible working arrangement while 62% foresee increase in virtual meetings over the next two years.

Commenting on this, Milne said: “It is good to see that innovation and the adoption of the latest technology being top priorities for Malaysian businesses as they are the major enablers of future success.”

“More businesses in Malaysia are turning to technology to allow work flexibility among employees. Our survey shows that 95% of businesses agree or strongly agree that in times of adversity, application of technology can enhance how they work,” he added.

The HSBC Navigator “Resilience: Building Back Better” report, surveyed 2,604 companies across 14 markets globally, including 200 firms from Malaysia.

The study measures the pulse of businesses as they adapt to current challenges, and highlights steps taken to be resilient in the future.

The survey has also highlighted that more Malaysian companies are now giving importance to workers’ issue, with 32% recognising the importance of an employee’s morale for better business prospects.

“Malaysian businesses should also prioritise employee’s mental and physical well-being, and equip them with the ability to adapt to their new working environment.

“They must quickly bring employees up to speed on new ways of working as Malaysia makes this transition,” remarked Milne.

Source: Focus Malaysia Posted on : 12 November 2020

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