Critical Factors that have Positive Impact on Competitiveness

Transcription

1 Critical Factors that have Positive Impact on Competitiveness Lower cost of inputs 20.6% Improved product and process innovation 18.6% More efficient labor market including labor laws & regulations 10.8% Better infrastructure 10.8% Better business organization 9.8% Better macroeconomic environment 8.8% Better education and training system 6.9% Improved instituitional and legal environment 6.9% Availability of new technology Improved goods and financial market efficiency 0% 4.9% 2.0% 5% 10% 15% 20% 25% (n = 102) 1

2 Recruitment Newly recruited employees constituted 15.5% of workforce of which 6.2% are recruited abroad shortage or unavailability of special skills 70.3% respondent companies faced difficulties in recruiting right employees with appropriate skills key to driving companies competitive advantage Skills mismatch call for greater collaborative efforts between industry and academia and compulsory industrial attachment 2

3 Recruitment Important Factors in Recruiting Employees Respondent companies reported average of 9.2% of total positions currently unfilled 3

4 Wages and Benefits No. of Resp. Co Minimum (RM) Mean (RM) Maximum (RM) Management 48 2,000 9,015 30,944 Administration Support Staff ,591 6,500 Technical/Professional ,903 10,500 Skilled Production/Operation ,946 8,000 Semiskilled Production/Operation ,298 2,800 Unskilled Production/Operation ,800 Average Salary Increase (%) No. of Resp. Co Average Management Administration Support Staff Technical/Professional Skilled Production/Operation Semiskilled Production/Operation Unskilled Production/Operation

5 Performance Related Payment 57.8% implemented performance related payment system for non executive employees 16.7% of total earnings of non executive employees based on performance Variable component of performance based pay system comprised of: bonus incentive payments merit pay 5

6 Facilities & Benefits No. of Resp. Co. Average % of Workforce Paid annual leave Paid maternity leave Retirement pension (Employees Provident Fund) Injury/accident insurance Health insurance Medical center (Consultation and Hospitalisation) Retrenchment/termination benefits Cafeteria/canteen Transport or transportation allowance Housing or housing allowance Educational allowance for worker's children Child care center

7 Working Hours Alternative work Time Arrangement Average Weekly Working Hours No. of Resp. Co Minimum Mean Maximum Management Administration Support Staff Technical/Professional Skilled Production/Operation Semiskilled Production/Operation Unskilled Production/Operation

8 Alternative forms of Work Arrangement Multitasking and multiskilling (76.6%) allow for greater flexibility in management of business and ability to respond quickly to changing circumstances Teamwork (74.5%) introduced at workplace by respondent companies to: improve productivity reduce cycle time generate innovative solutions Job rotation implemented by 52% of respondent companies to: increase interest improve motivation facilitate multi-skilling 8